Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Shelton | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $110,680 | $95,363 | $78,145 |
| Median Personal Income | $82,920 | $76,086 | $61,726 |
| Average income growth | 3.5% | 4.1% | 5.1% |
| Six-Figure Earners | 20.0% | 18.1% | 13.2% |
The median household income in Shelton is about 16% higher than in Connecticut. Income has been growing slower in Shelton (3.5%/yr) than in Connecticut (4.1%/yr).
About 20% of adults in Shelton earn six figures ($100,000 or more) a year, higher than the Connecticut average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Shelton, Connecticut grew by 38.0% from 2009 to 2023, reaching $110,680 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Shelton | Gender Pay Gap | Gini Coefficient
| Metric | Shelton | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.555 | 0.570 |
| Male Median Income | $88,455 | $83,962 | $67,746 |
| Female Median Income | $77,996 | $68,602 | $54,793 |
| Gender Pay Gap | 11.8% | 18.3% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Shelton, it is 0.529, lower than Connecticut's 0.555, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 13% more than women's income in Shelton, Connecticut. Over a 35-year career, a 13% wage gap accumulates to roughly $366,065 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Shelton, Connecticut has narrowed from about 28% to 12% in 2023. In dollar terms, the gap has narrowed by $8,647 since 2009.
Employment
| Metric | Shelton | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 5.6% | 5.2% |
| Working from Home | 13.4% | 14.5% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 811 people are unemployed in Shelton, Connecticut.
The average commute time in Shelton is 22 minutes, about the same as in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Shelton, Connecticut has fallen from 6.8% to 5.1% in 2023.
Conclusion
Considering all these factors, Shelton, Connecticut has an overall wealth index grade of A, making it somewhat better than Connecticut, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Shelton, Connecticut.
How Rich Is Shelton, Connecticut?
Shelton has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $110,680, about 16% higher than the Connecticut average of $95,363.
What is the current median household income in Shelton, Connecticut?
As of 2023, the median household income in Shelton, Connecticut is $110,680.
What was the median household income in Shelton in 2023?
In 2023, the median household income in Shelton, Connecticut was $110,680.
What was the median household income in Shelton in 2020?
In 2020, the median household income in Shelton, Connecticut was $97,083.
What is the Gini coefficient in Shelton, Connecticut?
The Gini coefficient in Shelton is 0.529. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Shelton, Connecticut?
Since 2009, the income gap between men and women in Shelton, Connecticut has narrowed from about 28% to 12% in 2023. In dollar terms, the gap has narrowed by $8,647 since 2009.