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 | Hyattsville | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $90,066 | $101,971 | $78,145 |
| Median Personal Income | $60,690 | $75,680 | $61,726 |
| Average income growth | 5.2% | 4.3% | 5.1% |
| Six-Figure Earners | 14.4% | 19.8% | 13.2% |
The median household income in Hyattsville is about 12% lower than in Maryland. Income has been growing faster in Hyattsville (5.2%/yr) than in Maryland (4.3%/yr).
About 14% of adults in Hyattsville 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 Hyattsville, Maryland grew by 78.6% from 2009 to 2023, reaching $90,066 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Hyattsville | Gender Pay Gap | Gini Coefficient
| Metric | Hyattsville | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.553 | 0.570 |
| Male Median Income | $59,522 | $81,929 | $67,746 |
| Female Median Income | $63,719 | $70,143 | $54,793 |
| Gender Pay Gap | -7.0% | 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 Hyattsville, 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.
Women's income is about 7% more than men's income in Hyattsville, Maryland. Over a 35-year career, a 7% wage gap accumulates to roughly $146,895 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hyattsville, Maryland has narrowed from about 20% to -7% in 2023. In dollar terms, the gap has narrowed by $11,989 since 2009.
Employment
| Metric | Hyattsville | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 4.9% | 5.2% |
| Working from Home | 19.5% | 17.2% | 13.4% |
| Commute time (minutes) | 32 | 28 | 22 |
Approximately 668 people are unemployed in Hyattsville, Maryland.
The average commute time in Hyattsville is 32 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hyattsville, Maryland has fallen from 7.3% to 4.7% in 2023.
Conclusion
Considering all these factors, Hyattsville, 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 Hyattsville, Maryland.
How Rich Is Hyattsville, Maryland?
Hyattsville 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 $90,066, about 12% lower than the Maryland average of $101,971.
What is the current median household income in Hyattsville, Maryland?
As of 2023, the median household income in Hyattsville, Maryland is $90,066.
What was the median household income in Hyattsville in 2023?
In 2023, the median household income in Hyattsville, Maryland was $90,066.
What was the median household income in Hyattsville in 2020?
In 2020, the median household income in Hyattsville, Maryland was $77,763.
What is the Gini coefficient in Hyattsville, Maryland?
The Gini coefficient in Hyattsville 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 Hyattsville, Maryland?
Since 2009, the income gap between men and women in Hyattsville, Maryland has narrowed from about 20% to -7% in 2023. In dollar terms, the gap has narrowed by $11,989 since 2009.