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 Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,956 | $95,363 | $78,145 |
| Median Personal Income | $60,593 | $76,086 | $61,726 |
| Average income growth | 5.3% | 4.1% | 5.1% |
| Six-Figure Earners | 9.1% | 18.1% | 13.2% |
The median household income in West Haven is about 23% lower than in Connecticut. Income has been growing faster in West Haven (5.3%/yr) than in Connecticut (4.1%/yr).
About 9% of adults in West Haven earn six figures ($100,000 or more) a year, lower than the Connecticut average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in West Haven, Connecticut grew by 38.2% from 2009 to 2023, reaching $72,956 in 2023. That's an average of about 5.3% per year.
Economic Inequality in West Haven | Gender Pay Gap | Gini Coefficient
| Metric | West Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.546 | 0.555 | 0.570 |
| Male Median Income | $63,122 | $83,962 | $67,746 |
| Female Median Income | $56,898 | $68,602 | $54,793 |
| Gender Pay Gap | 9.9% | 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 Haven, it is 0.546, 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 11% more than women's income in West Haven, Connecticut. Over a 35-year career, a 11% wage gap accumulates to roughly $217,840 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 Haven, Connecticut has narrowed from about 19% to 10% in 2023. In dollar terms, the gap has narrowed by $2,532 since 2009.
Employment
| Metric | West Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 5.6% | 5.2% |
| Working from Home | 8.8% | 14.5% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 762 people are unemployed in West Haven, Connecticut.
The average commute time in West Haven is 20 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Haven, Connecticut has fallen from 10.2% to 6.7% in 2023.
Conclusion
Considering all these factors, West Haven, Connecticut has an overall wealth index grade of C, making it somewhat worse than Connecticut, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in West Haven, Connecticut.
How Rich Is West Haven, Connecticut?
West Haven has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $72,956, about 23% lower than the Connecticut average of $95,363.
What is the current median household income in West Haven, Connecticut?
As of 2023, the median household income in West Haven, Connecticut is $72,956.
What was the median household income in West Haven in 2023?
In 2023, the median household income in West Haven, Connecticut was $72,956.
What was the median household income in West Haven in 2020?
In 2020, the median household income in West Haven, Connecticut was $63,676.
What is the Gini coefficient in West Haven, Connecticut?
The Gini coefficient in West Haven is 0.546. 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 Haven, Connecticut?
Since 2009, the income gap between men and women in West Haven, Connecticut has narrowed from about 19% to 10% in 2023. In dollar terms, the gap has narrowed by $2,532 since 2009.