Wealth Index
Wealthiest county in Delaware
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 | New Castle County | Delaware Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,930 | $83,492 | $78,145 |
| Median Personal Income | $68,817 | $63,426 | $61,726 |
| Average income growth | 4.4% | 4.6% | 5.1% |
| Six-Figure Earners | 15.5% | 13.2% | 13.2% |
The median household income in New Castle County is about 8% higher than in Delaware. Income has been growing slower in New Castle County (4.4%/yr) than in Delaware (4.6%/yr).
About 15% of adults in New Castle County earn six figures ($100,000 or more) a year, higher than the Delaware average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in New Castle County, Delaware grew by 41.6% from 2009 to 2023, reaching $89,930 in 2023. That's an average of about 4.4% per year.
Economic Inequality in New Castle County | Gender Pay Gap | Gini Coefficient
| Metric | New Castle County | Delaware Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.546 | 0.570 |
| Male Median Income | $74,786 | $69,033 | $67,746 |
| Female Median Income | $62,528 | $57,805 | $54,793 |
| Gender Pay Gap | 16.4% | 16.3% | 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 New Castle County, it is 0.556, higher than Delaware's 0.546, so income is less 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 20% more than women's income in New Castle County, Delaware. Over a 35-year career, a 20% wage gap accumulates to roughly $429,030 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New Castle County, Delaware has narrowed from about 21% to 16% in 2023. In dollar terms, the gap has widened by $717 since 2009.
Employment
| Metric | New Castle County | Delaware Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.0% | 5.2% |
| Working from Home | 15.5% | 13.3% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 15,020 people are unemployed in New Castle County, Delaware.
The average commute time in New Castle County is 21 minutes, shorter than the 22 minutes in Delaware.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New Castle County, Delaware has fallen from 7.6% to 4.9% in 2023.
Conclusion
Considering all these factors, New Castle County, Delaware has an overall wealth index grade of B, making it somewhat better than Delaware, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New Castle County, Delaware.
How Rich Is New Castle County, Delaware?
New Castle County 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 $89,930, about 8% higher than the Delaware average of $83,492.
What is the current median household income in New Castle County, Delaware?
As of 2023, the median household income in New Castle County, Delaware is $89,930.
What was the median household income in New Castle County in 2023?
In 2023, the median household income in New Castle County, Delaware was $89,930.
What was the median household income in New Castle County in 2020?
In 2020, the median household income in New Castle County, Delaware was $75,288.
What is the Gini coefficient in New Castle County, Delaware?
The Gini coefficient in New Castle County 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 New Castle County, Delaware?
Since 2009, the income gap between men and women in New Castle County, Delaware has narrowed from about 21% to 16% in 2023. In dollar terms, the gap has widened by $717 since 2009.