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 | Washington | District of Columbia Avg | US Average |
|---|---|---|---|
| Median Household Income | $107,225 | $107,226 | $78,145 |
| Median Personal Income | $103,139 | $103,141 | $61,726 |
| Average income growth | 5.6% | 5.6% | 5.1% |
| Six-Figure Earners | 31.6% | 31.6% | 13.2% |
The median household income in Washington is about the same as in District of Columbia. Income has been growing slower in Washington (5.6%/yr) than in District of Columbia (5.6%/yr).
About 32% of adults in Washington earn six figures ($100,000 or more) a year, about the same as the District of Columbia average of 32%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Washington, District of Columbia grew by 88.0% from 2009 to 2023, reaching $107,225 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Washington | Gender Pay Gap | Gini Coefficient
| Metric | Washington | District of Columbia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.549 | 0.549 | 0.570 |
| Male Median Income | $111,166 | $111,168 | $67,746 |
| Female Median Income | $95,961 | $95,962 | $54,793 |
| Gender Pay Gap | 13.7% | 13.7% | 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 Washington, it is 0.549, about the same as District of Columbia's 0.549, 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 16% more than women's income in Washington, District of Columbia. Over a 35-year career, a 16% wage gap accumulates to roughly $532,175 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Washington, District of Columbia has widened from about 11% to 14% in 2023. In dollar terms, the gap has widened by $8,591 since 2009.
Employment
| Metric | Washington | District of Columbia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 6.4% | 5.2% |
| Working from Home | 29.4% | 29.4% | 13.4% |
| Commute time (minutes) | 30 | 30 | 22 |
Approximately 25,715 people are unemployed in Washington, District of Columbia.
The average commute time in Washington is 30 minutes, about the same as in District of Columbia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Washington, District of Columbia has fallen from 9.9% to 6.4% in 2023.
Conclusion
Considering all these factors, Washington, District of Columbia has an overall wealth index grade of A, making it about on par with District of Columbia, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Washington, District of Columbia.
How Rich Is Washington, District of Columbia?
Washington 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 $107,225, close to the District of Columbia average of $107,226.
What is the current median household income in Washington, District of Columbia?
As of 2023, the median household income in Washington, District of Columbia is $107,225.
What was the median household income in Washington in 2023?
In 2023, the median household income in Washington, District of Columbia was $107,225.
What was the median household income in Washington in 2020?
In 2020, the median household income in Washington, District of Columbia was $91,678.
What is the Gini coefficient in Washington, District of Columbia?
The Gini coefficient in Washington is 0.549. 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 Washington, District of Columbia?
Since 2009, the income gap between men and women in Washington, District of Columbia has widened from about 11% to 14% in 2023. In dollar terms, the gap has widened by $8,591 since 2009.