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 | West Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $123,354 | $95,363 | $78,145 |
| Median Personal Income | $94,648 | $76,086 | $61,726 |
| Average income growth | 4.4% | 4.1% | 5.1% |
| Six-Figure Earners | 26.7% | 18.1% | 13.2% |
The median household income in West Hartford is about 29% higher than in Connecticut. Income has been growing faster in West Hartford (4.4%/yr) than in Connecticut (4.1%/yr).
About 27% of adults in West Hartford 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 West Hartford, Connecticut grew by 52.2% from 2009 to 2023, reaching $123,354 in 2023. That's an average of about 4.4% per year.
Economic Inequality in West Hartford | Gender Pay Gap | Gini Coefficient
| Metric | West Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.532 | 0.555 | 0.570 |
| Male Median Income | $106,405 | $83,962 | $67,746 |
| Female Median Income | $82,380 | $68,602 | $54,793 |
| Gender Pay Gap | 22.6% | 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 West Hartford, it is 0.532, 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 29% more than women's income in West Hartford, Connecticut. Over a 35-year career, a 29% wage gap accumulates to roughly $840,875 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in West Hartford, Connecticut has narrowed from about 24% to 23% in 2023. In dollar terms, the gap has widened by $6,613 since 2009.
Employment
| Metric | West Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 5.6% | 5.2% |
| Working from Home | 19.9% | 14.5% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 1,221 people are unemployed in West Hartford, Connecticut.
The average commute time in West Hartford is 18 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Hartford, Connecticut has fallen from 6.2% to 3.6% in 2023.
Conclusion
Considering all these factors, West Hartford, Connecticut has an overall wealth index grade of A+, making it somewhat better than Connecticut, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in West Hartford, Connecticut.
How Rich Is West Hartford, Connecticut?
West Hartford 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 it is one of the most prosperous areas in the country. The median household income is $123,354, about 29% higher than the Connecticut average of $95,363.
What is the current median household income in West Hartford, Connecticut?
As of 2023, the median household income in West Hartford, Connecticut is $123,354.
What was the median household income in West Hartford in 2023?
In 2023, the median household income in West Hartford, Connecticut was $123,354.
What was the median household income in West Hartford in 2020?
In 2020, the median household income in West Hartford, Connecticut was $105,027.
What is the Gini coefficient in West Hartford, Connecticut?
The Gini coefficient in West Hartford is 0.532. 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 West Hartford, Connecticut?
Since 2009, the income gap between men and women in West Hartford, Connecticut has narrowed from about 24% to 23% in 2023. In dollar terms, the gap has widened by $6,613 since 2009.