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 | Harford County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $112,097 | $101,971 | $78,145 |
| Median Personal Income | $79,924 | $75,680 | $61,726 |
| Average income growth | 4.7% | 4.3% | 5.1% |
| Six-Figure Earners | 20.0% | 19.8% | 13.2% |
The median household income in Harford County is about 10% higher than in Maryland. Income has been growing faster in Harford County (4.7%/yr) than in Maryland (4.3%/yr).
About 20% of adults in Harford County earn six figures ($100,000 or more) a year, about the same as the Maryland average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Harford County, Maryland grew by 47.9% from 2009 to 2023, reaching $112,097 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Harford County | Gender Pay Gap | Gini Coefficient
| Metric | Harford County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.536 | 0.553 | 0.570 |
| Male Median Income | $89,077 | $81,929 | $67,746 |
| Female Median Income | $69,118 | $70,143 | $54,793 |
| Gender Pay Gap | 22.4% | 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 Harford County, it is 0.536, 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 29% more than women's income in Harford County, Maryland. Over a 35-year career, a 29% wage gap accumulates to roughly $698,565 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Harford County, Maryland has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $3,374 since 2009.
Employment
| Metric | Harford County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.9% | 5.2% |
| Working from Home | 13.4% | 17.2% | 13.4% |
| Commute time (minutes) | 30 | 28 | 22 |
Approximately 5,365 people are unemployed in Harford County, Maryland.
The average commute time in Harford County is 30 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Harford County, Maryland has fallen from 6.2% to 3.8% in 2023.
Conclusion
Considering all these factors, Harford County, Maryland has an overall wealth index grade of A, making it somewhat better than Maryland, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Harford County, Maryland.
How Rich Is Harford County, Maryland?
Harford 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 residents are much better off than the U.S. average. The median household income is $112,097, about 10% higher than the Maryland average of $101,971.
What is the current median household income in Harford County, Maryland?
As of 2023, the median household income in Harford County, Maryland is $112,097.
What was the median household income in Harford County in 2023?
In 2023, the median household income in Harford County, Maryland was $112,097.
What was the median household income in Harford County in 2020?
In 2020, the median household income in Harford County, Maryland was $94,538.
What is the Gini coefficient in Harford County, Maryland?
The Gini coefficient in Harford County is 0.536. 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 Harford County, Maryland?
Since 2009, the income gap between men and women in Harford County, Maryland has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $3,374 since 2009.