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 | Stamford | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $110,188 | $95,363 | $78,145 |
| Median Personal Income | $86,825 | $76,086 | $61,726 |
| Average income growth | 4.1% | 4.1% | 5.1% |
| Six-Figure Earners | 24.2% | 18.1% | 13.2% |
The median household income in Stamford is about 16% higher than in Connecticut. Income has been growing faster in Stamford (4.1%/yr) than in Connecticut (4.1%/yr).
About 24% of adults in Stamford 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 Stamford, Connecticut grew by 43.8% from 2009 to 2023, reaching $110,188 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Stamford | Gender Pay Gap | Gini Coefficient
| Metric | Stamford | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.555 | 0.570 |
| Male Median Income | $91,474 | $83,962 | $67,746 |
| Female Median Income | $81,366 | $68,602 | $54,793 |
| Gender Pay Gap | 11.0% | 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 Stamford, it is 0.556, about the same as Connecticut's 0.555, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 12% more than women's income in Stamford, Connecticut. Over a 35-year career, a 12% wage gap accumulates to roughly $353,780 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Stamford, Connecticut has narrowed from about 15% to 11% in 2023. In dollar terms, the gap has widened by $246 since 2009.
Employment
| Metric | Stamford | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.6% | 5.2% |
| Working from Home | 17.5% | 14.5% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 2,510 people are unemployed in Stamford, Connecticut.
The average commute time in Stamford is 21 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Stamford, Connecticut has fallen from 10.0% to 4.7% in 2023.
Conclusion
Considering all these factors, Stamford, Connecticut has an overall wealth index grade of B, making it somewhat better than Connecticut, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Stamford, Connecticut.
How Rich Is Stamford, Connecticut?
Stamford has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $110,188, about 16% higher than the Connecticut average of $95,363.
What is the current median household income in Stamford, Connecticut?
As of 2023, the median household income in Stamford, Connecticut is $110,188.
What was the median household income in Stamford in 2023?
In 2023, the median household income in Stamford, Connecticut was $110,188.
What was the median household income in Stamford in 2020?
In 2020, the median household income in Stamford, Connecticut was $103,636.
What is the Gini coefficient in Stamford, Connecticut?
The Gini coefficient in Stamford is 0.556. 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 Stamford, Connecticut?
Since 2009, the income gap between men and women in Stamford, Connecticut has narrowed from about 15% to 11% in 2023. In dollar terms, the gap has widened by $246 since 2009.