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 | Wethersfield | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $117,976 | $95,363 | $78,145 |
| Median Personal Income | $88,108 | $76,086 | $61,726 |
| Average income growth | 5.9% | 4.1% | 5.1% |
| Six-Figure Earners | 22.1% | 18.1% | 13.2% |
The median household income in Wethersfield is about 24% higher than in Connecticut. Income has been growing faster in Wethersfield (5.9%/yr) than in Connecticut (4.1%/yr).
About 22% of adults in Wethersfield 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 Wethersfield, Connecticut grew by 67.5% from 2009 to 2023, reaching $117,976 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Wethersfield | Gender Pay Gap | Gini Coefficient
| Metric | Wethersfield | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.505 | 0.555 | 0.570 |
| Male Median Income | $94,955 | $83,962 | $67,746 |
| Female Median Income | $80,524 | $68,602 | $54,793 |
| Gender Pay Gap | 15.2% | 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 Wethersfield, it is 0.505, 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 18% more than women's income in Wethersfield, Connecticut. Over a 35-year career, a 18% wage gap accumulates to roughly $505,085 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wethersfield, Connecticut has narrowed from about 19% to 15% in 2023. In dollar terms, the gap has widened by $2,772 since 2009.
Employment
| Metric | Wethersfield | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 5.6% | 5.2% |
| Working from Home | 15.8% | 14.5% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 411 people are unemployed in Wethersfield, Connecticut.
The average commute time in Wethersfield is 18 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wethersfield, Connecticut has fallen from 4.4% to 3.0% in 2023.
Conclusion
Considering all these factors, Wethersfield, 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 Wethersfield, Connecticut.
How Rich Is Wethersfield, Connecticut?
Wethersfield 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 $117,976, about 24% higher than the Connecticut average of $95,363.
What is the current median household income in Wethersfield, Connecticut?
As of 2023, the median household income in Wethersfield, Connecticut is $117,976.
What was the median household income in Wethersfield in 2023?
In 2023, the median household income in Wethersfield, Connecticut was $117,976.
What was the median household income in Wethersfield in 2020?
In 2020, the median household income in Wethersfield, Connecticut was $91,579.
What is the Gini coefficient in Wethersfield, Connecticut?
The Gini coefficient in Wethersfield is 0.505. 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 Wethersfield, Connecticut?
Since 2009, the income gap between men and women in Wethersfield, Connecticut has narrowed from about 19% to 15% in 2023. In dollar terms, the gap has widened by $2,772 since 2009.