Olney, Maryland Income Statistics
Olney 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.
-
A+
Olney Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $175,237 | $103,916 | $80,455 |
| Median Personal Income | $107,776 | $75,715 | $60,758 |
| Average Yearly Income Growth | 4.0% | 4.0% | 4.8% |
| Six-Figure Earners | 32.5% | 20.7% | 13.9% |
| $200k+ Households | 41.3% | 20.3% | 13.2% |
The median household income in Olney is about 69% higher than in Maryland. Income has been growing faster in Olney (4.0%/yr) than in Maryland (4.0%/yr).
About 33% of adults in Olney earn six figures ($100,000 or more) a year, higher than the Maryland average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Olney, Maryland grew by 47.2% from 2009 to 2024, reaching $175,237 in 2024. That's an average of about 4.0% per year.
Income Inequality and the Gender Pay Gap in Olney
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.512 | 0.534 | 0.552 |
| Male Median Income | $116,716 | $84,327 | $69,667 |
| Female Median Income | $103,589 | $72,201 | $56,850 |
| Gender Pay Gap | 11.2% | 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 Olney, it is 0.512, 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 13% more than women's income in Olney, Maryland. Over a 35-year career, a 13% wage gap accumulates to roughly $459,445 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Olney, Maryland has narrowed from about 33% to 11% in 2024. Over that period the gap was narrowest at 2% in 2020. In dollar terms, the gap has narrowed by $17,981 since 2009.
Employment
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.8% | 5.2% |
| Working from Home | 31.5% | 19.3% | 15.0% |
| Commute time (minutes) | 31 | 28 | 22 |
Approximately 653 people are unemployed in Olney, Maryland.
The average commute time in Olney is 31 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Olney, Maryland has fallen from 5.0% to 3.8% in 2024. Over that period the rate peaked at 6.1% in 2012 and fell as low as 2.2% in 2017.
Olney, MD Wealth Compared With Nearby Cities
How Olney, 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. |
|---|---|---|---|---|---|
| Olney, MD | 32,305 | $175,237 #1/2 | 4.0%/yr #2/2 | 3.8% #1/2 | 0.512 #1/2 |
| Aspen Hill, MD | 53,456 | $115,644 | 4.4%/yr | 6.8% | 0.549 |
Conclusion
Considering all these factors, Olney, Maryland has an overall wealth index grade of A+, making it notably better than Maryland, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Olney, Maryland.
How Wealthy Is Olney, Maryland?
Olney 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 $175,237, about 69% higher than the Maryland average of $103,916.
How fast is household income rising in Olney, Maryland?
Between 2009 and 2024, the median household income in Olney, Maryland rose 47%, from $119,036 to $175,237. Over the same years, income here lagged behind Maryland as a whole: +47% against +49%.
What was the median household income in Olney in 2023?
In 2023, the median household income in Olney, Maryland was $174,909, up 3% from $169,649 in 2022. The Maryland median that year was $101,974.
What was the median household income in Olney in 2020?
In 2020, the median household income in Olney, Maryland was $147,002. By 2024 it had risen 19% to $175,237.
Is Olney, Maryland a high-income area?
Yes. 33% of adults in Olney, Maryland earn $100,000 or more a year (about 1 in 3), against 21% (about 1 in 5) in Maryland. 41% of households have a combined income of $200,000 or more, compared with 20% in Maryland.
How strong is the job market in Olney, Maryland?
Unemployment in Olney, Maryland is only 3.8%, 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 Olney, Maryland?
The Gini coefficient in Olney is 0.512. 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 Olney, Maryland?
Since 2009, the income gap between men and women in Olney, Maryland has narrowed from about 33% to 11% in 2024. Over that period the gap was narrowest at 2% in 2020. In dollar terms, the gap has narrowed by $17,981 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →