Wealth Index
Least wealthy county in Massachusetts
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 | Hampden County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,197 | $101,501 | $78,145 |
| Median Personal Income | $64,144 | $81,429 | $61,726 |
| Average income growth | 4.6% | 5.2% | 5.1% |
| Six-Figure Earners | 9.9% | 19.8% | 13.2% |
The median household income in Hampden County is about 31% lower than in Massachusetts. Income has been growing slower in Hampden County (4.6%/yr) than in Massachusetts (5.2%/yr).
About 10% of adults in Hampden County earn six figures ($100,000 or more) a year, lower than the Massachusetts average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hampden County, Massachusetts grew by 47.2% from 2009 to 2023, reaching $70,197 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Hampden County | Gender Pay Gap | Gini Coefficient
| Metric | Hampden County | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.554 | 0.570 |
| Male Median Income | $68,835 | $89,016 | $67,746 |
| Female Median Income | $59,491 | $73,171 | $54,793 |
| Gender Pay Gap | 13.6% | 17.8% | 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 Hampden County, it is 0.555, about the same as Massachusetts's 0.554, 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 Hampden County, Massachusetts. Over a 35-year career, a 16% wage gap accumulates to roughly $327,040 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hampden County, Massachusetts has narrowed from about 25% to 14% in 2023. In dollar terms, the gap has narrowed by $3,139 since 2009.
Employment
| Metric | Hampden County | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 5.1% | 5.2% |
| Working from Home | 9.4% | 16.7% | 13.4% |
| Commute time (minutes) | 20 | 25 | 22 |
Approximately 13,776 people are unemployed in Hampden County, Massachusetts.
The average commute time in Hampden County is 20 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hampden County, Massachusetts has fallen from 10.1% to 6.0% in 2023.
Conclusion
Considering all these factors, Hampden County, Massachusetts has an overall wealth index grade of C, making it somewhat worse than Massachusetts, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hampden County, Massachusetts.
How Rich Is Hampden County, Massachusetts?
Hampden County 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 $70,197, about 31% lower than the Massachusetts average of $101,501.
What is the current median household income in Hampden County, Massachusetts?
As of 2023, the median household income in Hampden County, Massachusetts is $70,197.
What was the median household income in Hampden County in 2023?
In 2023, the median household income in Hampden County, Massachusetts was $70,197.
What was the median household income in Hampden County in 2020?
In 2020, the median household income in Hampden County, Massachusetts was $58,063.
What is the Gini coefficient in Hampden County, Massachusetts?
The Gini coefficient in Hampden County is 0.555. 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 Hampden County, Massachusetts?
Since 2009, the income gap between men and women in Hampden County, Massachusetts has narrowed from about 25% to 14% in 2023. In dollar terms, the gap has narrowed by $3,139 since 2009.