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 | Baltimore County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $91,930 | $101,971 | $78,145 |
| Median Personal Income | $70,583 | $75,680 | $61,726 |
| Average income growth | 4.1% | 4.3% | 5.1% |
| Six-Figure Earners | 16.7% | 19.8% | 13.2% |
The median household income in Baltimore County is about 10% lower than in Maryland. Income has been growing slower in Baltimore County (4.1%/yr) than in Maryland (4.3%/yr).
About 17% of adults in Baltimore County earn six figures ($100,000 or more) a year, lower than the Maryland average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Baltimore County, Maryland grew by 45.4% from 2009 to 2023, reaching $91,930 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Baltimore County | Gender Pay Gap | Gini Coefficient
| Metric | Baltimore County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.553 | 0.570 |
| Male Median Income | $76,393 | $81,929 | $67,746 |
| Female Median Income | $64,767 | $70,143 | $54,793 |
| Gender Pay Gap | 15.2% | 14.4% | 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 Baltimore County, it is 0.540, lower than Maryland's 0.553, 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 Baltimore County, Maryland. Over a 35-year career, a 18% wage gap accumulates to roughly $406,910 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Baltimore County, Maryland has narrowed from about 19% to 15% in 2023. In dollar terms, the gap has widened by $1,497 since 2009.
Employment
| Metric | Baltimore County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 4.9% | 5.2% |
| Working from Home | 14.2% | 17.2% | 13.4% |
| Commute time (minutes) | 26 | 28 | 22 |
Approximately 22,608 people are unemployed in Baltimore County, Maryland.
The average commute time in Baltimore County is 26 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Baltimore County, Maryland has fallen from 6.8% to 5.0% in 2023.
Conclusion
Considering all these factors, Baltimore County, Maryland has an overall wealth index grade of B, making it about on par with Maryland, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Baltimore County, Maryland.
How Rich Is Baltimore County, Maryland?
Baltimore 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 $91,930, about 10% lower than the Maryland average of $101,971.
What is the current median household income in Baltimore County, Maryland?
As of 2023, the median household income in Baltimore County, Maryland is $91,930.
What was the median household income in Baltimore County in 2023?
In 2023, the median household income in Baltimore County, Maryland was $91,930.
What was the median household income in Baltimore County in 2020?
In 2020, the median household income in Baltimore County, Maryland was $78,981.
What is the Gini coefficient in Baltimore County, Maryland?
The Gini coefficient in Baltimore County is 0.540. 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 Baltimore County, Maryland?
Since 2009, the income gap between men and women in Baltimore County, Maryland has narrowed from about 19% to 15% in 2023. In dollar terms, the gap has widened by $1,497 since 2009.