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 | Cecil County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $92,842 | $101,971 | $78,145 |
| Median Personal Income | $70,857 | $75,680 | $61,726 |
| Average income growth | 4.6% | 4.3% | 5.1% |
| Six-Figure Earners | 13.3% | 19.8% | 13.2% |
The median household income in Cecil County is about 9% lower than in Maryland. Income has been growing faster in Cecil County (4.6%/yr) than in Maryland (4.3%/yr).
About 13% of adults in Cecil 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 Cecil County, Maryland grew by 43.2% from 2009 to 2023, reaching $92,842 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Cecil County | Gender Pay Gap | Gini Coefficient
| Metric | Cecil County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.553 | 0.570 |
| Male Median Income | $77,484 | $81,929 | $67,746 |
| Female Median Income | $60,577 | $70,143 | $54,793 |
| Gender Pay Gap | 21.8% | 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 Cecil County, it is 0.535, 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 28% more than women's income in Cecil County, Maryland. Over a 35-year career, a 28% wage gap accumulates to roughly $591,745 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cecil County, Maryland has narrowed from about 26% to 22% in 2023. In dollar terms, the gap has widened by $2,410 since 2009.
Employment
| Metric | Cecil County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.9% | 5.2% |
| Working from Home | 10.4% | 17.2% | 13.4% |
| Commute time (minutes) | 26 | 28 | 22 |
Approximately 2,385 people are unemployed in Cecil County, Maryland.
The average commute time in Cecil County is 26 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cecil County, Maryland has fallen from 7.7% to 4.6% in 2023.
Conclusion
Considering all these factors, Cecil 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 Cecil County, Maryland.
How Rich Is Cecil County, Maryland?
Cecil 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 $92,842, about 9% lower than the Maryland average of $101,971.
What is the current median household income in Cecil County, Maryland?
As of 2023, the median household income in Cecil County, Maryland is $92,842.
What was the median household income in Cecil County in 2023?
In 2023, the median household income in Cecil County, Maryland was $92,842.
What was the median household income in Cecil County in 2020?
In 2020, the median household income in Cecil County, Maryland was $79,541.
What is the Gini coefficient in Cecil County, Maryland?
The Gini coefficient in Cecil County is 0.535. 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 Cecil County, Maryland?
Since 2009, the income gap between men and women in Cecil County, Maryland has narrowed from about 26% to 22% in 2023. In dollar terms, the gap has widened by $2,410 since 2009.