Frederick, Maryland Income Statistics
Frederick Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Frederick Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Frederick | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,684 | $103,916 | $80,455 |
| Median Personal Income | $69,753 | $75,715 | $60,758 |
| Average Yearly Income Growth | 4.8% | 4.0% | 4.8% |
| Six-Figure Earners | 18.9% | 20.7% | 13.9% |
| $200k+ Households | 17.0% | 20.3% | 13.2% |
The median household income in Frederick is about 7% lower than in Maryland. Income has been growing faster in Frederick (4.8%/yr) than in Maryland (4.0%/yr).
About 19% of adults in Frederick earn six figures ($100,000 or more) a year, lower than the Maryland average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Frederick, Maryland grew by 49.4% from 2009 to 2024, reaching $96,684 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in Frederick
| Metric | Frederick | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.511 | 0.534 | 0.552 |
| Male Median Income | $78,641 | $84,327 | $69,667 |
| Female Median Income | $71,576 | $72,201 | $56,850 |
| Gender Pay Gap | 9.0% | 14.4% | 18.4% |
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 Frederick, it is 0.511, lower than Maryland's 0.534, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 10% more than women's income in Frederick, Maryland. Over a 35-year career, a 10% wage gap accumulates to roughly $247,275 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Frederick, Maryland has narrowed from about 16% to 9% in 2024. Over that period the gap was widest at 22% in 2021. In dollar terms, the gap has narrowed by $1,057 since 2009.
Employment
| Metric | Frederick | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.8% | 5.2% |
| Working from Home | 17.6% | 19.3% | 15.0% |
| Commute time (minutes) | 21 | 28 | 22 |
Approximately 1,634 people are unemployed in Frederick, Maryland.
The average commute time in Frederick is 21 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Frederick, Maryland has fallen from 6.3% to 3.7% in 2024. Over that period the rate peaked at 7.6% in 2012 and fell as low as 3.6% in 2023.
Frederick, MD Wealth Compared With Nearby Cities
How Frederick, MD compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Frederick, MD | 76,727 | $96,684 #2/2 | 4.8%/yr #1/2 | 3.7% #2/2 | 0.511 #1/2 |
| Ballenger Creek, MD | 22,962 | $108,794 | 4.4%/yr | 3.1% | 0.522 |
Conclusion
Considering all these factors, Frederick, 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 Frederick, Maryland.
How Rich Is Frederick, Maryland?
Frederick 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 $96,684, about 7% lower than the Maryland average of $103,916.
How fast is household income rising in Frederick, Maryland?
Between 2009 and 2024, the median household income in Frederick, Maryland rose 49%, from $64,709 to $96,684. Over the same years, income here kept pace with Maryland as a whole: +49% against +49%.
What was the median household income in Frederick in 2023?
In 2023, the median household income in Frederick, Maryland was $96,207, up 7% from $90,309 in 2022. The Maryland median that year was $101,974.
What was the median household income in Frederick in 2020?
In 2020, the median household income in Frederick, Maryland was $78,211. By 2024 it had risen 24% to $96,684.
Is it hard to find a job in Frederick, Maryland?
Unemployment in Frederick, Maryland is only 3.7%, well below the Maryland rate of 4.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Frederick, Maryland?
The Gini coefficient in Frederick is 0.511. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Frederick, Maryland?
Since 2009, the income gap between men and women in Frederick, Maryland has narrowed from about 16% to 9% in 2024. Over that period the gap was widest at 22% in 2021. In dollar terms, the gap has narrowed by $1,057 since 2009.
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