Wealth Index
Among the top 3 wealthiest counties in Maryland
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 | Calvert County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $133,034 | $101,971 | $78,145 |
| Median Personal Income | $88,241 | $75,680 | $61,726 |
| Average income growth | 4.6% | 4.3% | 5.1% |
| Six-Figure Earners | 24.7% | 19.8% | 13.2% |
The median household income in Calvert County is about 30% higher than in Maryland. Income has been growing faster in Calvert County (4.6%/yr) than in Maryland (4.3%/yr).
About 25% of adults in Calvert County earn six figures ($100,000 or more) a year, higher than the Maryland average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Calvert County, Maryland grew by 42.5% from 2009 to 2023, reaching $133,034 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Calvert County | Gender Pay Gap | Gini Coefficient
| Metric | Calvert County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.553 | 0.570 |
| Male Median Income | $97,778 | $81,929 | $67,746 |
| Female Median Income | $75,419 | $70,143 | $54,793 |
| Gender Pay Gap | 22.9% | 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 Calvert County, it is 0.529, 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 30% more than women's income in Calvert County, Maryland. Over a 35-year career, a 30% wage gap accumulates to roughly $782,565 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Calvert County, Maryland has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $4,071 since 2009.
Employment
| Metric | Calvert County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.9% | 5.2% |
| Working from Home | 16.4% | 17.2% | 13.4% |
| Commute time (minutes) | 35 | 28 | 22 |
Approximately 1,446 people are unemployed in Calvert County, Maryland.
The average commute time in Calvert County is 35 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Calvert County, Maryland has fallen from 5.2% to 2.9% in 2023.
Conclusion
Considering all these factors, Calvert County, Maryland has an overall wealth index grade of A+, making it somewhat better than Maryland, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Calvert County, Maryland.
How Rich Is Calvert County, Maryland?
Calvert County 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 it is one of the most prosperous areas in the country. The median household income is $133,034, about 30% higher than the Maryland average of $101,971.
What is the current median household income in Calvert County, Maryland?
As of 2023, the median household income in Calvert County, Maryland is $133,034.
What was the median household income in Calvert County in 2023?
In 2023, the median household income in Calvert County, Maryland was $133,034.
What was the median household income in Calvert County in 2020?
In 2020, the median household income in Calvert County, Maryland was $113,386.
What is the Gini coefficient in Calvert County, Maryland?
The Gini coefficient in Calvert County is 0.529. 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 Calvert County, Maryland?
Since 2009, the income gap between men and women in Calvert County, Maryland has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $4,071 since 2009.