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 | Prince George's County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,780 | $101,971 | $78,145 |
| Median Personal Income | $68,345 | $75,680 | $61,726 |
| Average income growth | 4.1% | 4.3% | 5.1% |
| Six-Figure Earners | 17.1% | 19.8% | 13.2% |
The median household income in Prince George's County is about 1% lower than in Maryland. Income has been growing slower in Prince George's County (4.1%/yr) than in Maryland (4.3%/yr).
About 17% of adults in Prince George's 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 Prince George's County, Maryland grew by 41.9% from 2009 to 2023, reaching $100,780 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Prince George's County | Gender Pay Gap | Gini Coefficient
| Metric | Prince George's County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.539 | 0.553 | 0.570 |
| Male Median Income | $66,058 | $81,929 | $67,746 |
| Female Median Income | $70,603 | $70,143 | $54,793 |
| Gender Pay Gap | -6.9% | 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 Prince George's County, it is 0.539, 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 Prince George's County, Maryland. Over a 35-year career, a 7% wage gap accumulates to roughly $159,075 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Prince George's County, Maryland has widened from about 1% to -7% in 2023. In dollar terms, the gap has narrowed by $5,126 since 2009.
Employment
| Metric | Prince George's County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.3% | 4.9% | 5.2% |
| Working from Home | 15.4% | 17.2% | 13.4% |
| Commute time (minutes) | 32 | 28 | 22 |
Approximately 33,981 people are unemployed in Prince George's County, Maryland.
The average commute time in Prince George's County is 32 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Prince George's County, Maryland has fallen from 8.8% to 6.3% in 2023.
Conclusion
Considering all these factors, Prince George's 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 Prince George's County, Maryland.
How Rich Is Prince George's County, Maryland?
Prince George's 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 $100,780, about 1% lower than the Maryland average of $101,971.
What is the current median household income in Prince George's County, Maryland?
As of 2023, the median household income in Prince George's County, Maryland is $100,780.
What was the median household income in Prince George's County in 2023?
In 2023, the median household income in Prince George's County, Maryland was $100,780.
What was the median household income in Prince George's County in 2020?
In 2020, the median household income in Prince George's County, Maryland was $87,761.
What is the Gini coefficient in Prince George's County, Maryland?
The Gini coefficient in Prince George's County is 0.539. 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 Prince George's County, Maryland?
Since 2009, the income gap between men and women in Prince George's County, Maryland has widened from about 1% to -7% in 2023. In dollar terms, the gap has narrowed by $5,126 since 2009.