Randallstown, Maryland Income Statistics
Randallstown 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
Randallstown Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Randallstown | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,417 | $103,916 | $80,455 |
| Median Personal Income | $64,769 | $75,715 | $60,758 |
| Average Yearly Income Growth | 2.3% | 4.0% | 4.8% |
| Six-Figure Earners | 13.3% | 20.7% | 13.9% |
| $200k+ Households | 13.0% | 20.3% | 13.2% |
The median household income in Randallstown is about 14% lower than in Maryland. Income has been growing slower in Randallstown (2.3%/yr) than in Maryland (4.0%/yr).
About 13% of adults in Randallstown 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 Randallstown, Maryland grew by 34.8% from 2009 to 2024, reaching $89,417 in 2024. That's an average of about 2.3% per year.
Income Inequality and the Gender Pay Gap in Randallstown
| Metric | Randallstown | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.534 | 0.552 |
| Male Median Income | $71,555 | $84,327 | $69,667 |
| Female Median Income | $68,526 | $72,201 | $56,850 |
| Gender Pay Gap | 4.2% | 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 Randallstown, it is 0.529, about the same as Maryland's 0.534, so income here is about as evenly distributed as there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 4% more than women's income in Randallstown, Maryland. Over a 35-year career, a 4% wage gap accumulates to roughly $106,015 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Randallstown, Maryland has narrowed from about 9% to 4% in 2024. Over that period the gap was widest at 12% in 2013, and in 2020 women out-earned men by 10%. In dollar terms, the gap has narrowed by $1,645 since 2009.
Employment
| Metric | Randallstown | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 4.8% | 5.2% |
| Working from Home | 15.3% | 19.3% | 15.0% |
| Commute time (minutes) | 31 | 28 | 22 |
Approximately 1,112 people are unemployed in Randallstown, Maryland.
The average commute time in Randallstown is 31 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Randallstown, Maryland has fallen from 7.7% to 6.4% in 2024. Over that period the rate peaked at 9.2% in 2014 and fell as low as 5.3% in 2019.
Randallstown, MD Wealth Compared With Nearby Cities
Randallstown, MD is typical in size for this group, 32,727 residents against a local median of 28,662, so the measures below are close to a like for like comparison. Where Randallstown, MD breaks from the cities next to it is income growth, sitting 28% below the local median of 3.2%/yr at 2.3%/yr. That is the weaker end of the local range on this measure.
The cities themselves spread 3.3%/yr on income growth, so Randallstown, MD sits at one end of an already wide local range rather than apart from it. Randallstown, MD has the 4th highest income growth of the 5 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Randallstown, MD | 32,727 | $89,417 #3/5 | 2.3%/yr #4/5 | 6.4% #3/5 | 0.529 #3/5 |
| Owings Mills, MD | 38,773 | $95,930 | 3.6%/yr | 5.1% | 0.523 |
| Milford Mill, MD | 30,831 | $70,509 | 1.1%/yr | 6.7% | 0.499 |
| Lochearn, MD | 26,493 | $74,424 | 2.8%/yr | 5.8% | 0.544 |
| Reisterstown, MD | 25,579 | $89,678 | 4.4%/yr | 9.0% | 0.544 |
Conclusion
Considering all these factors, Randallstown, 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 Randallstown, Maryland.
How Rich Is Randallstown, Maryland?
Randallstown 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 $89,417, about 14% lower than the Maryland average of $103,916.
How fast is household income rising in Randallstown, Maryland?
Between 2009 and 2024, the median household income in Randallstown, Maryland rose 35%, from $66,341 to $89,417. Over the same years, income here lagged behind Maryland as a whole: +35% against +49%.
What was the median household income in Randallstown in 2023?
In 2023, the median household income in Randallstown, Maryland was $89,288, down 1% from $89,778 in 2022. The Maryland median that year was $101,974.
What was the median household income in Randallstown in 2020?
In 2020, the median household income in Randallstown, Maryland was $80,036. By 2024 it had risen 12% to $89,417.
Is it hard to find a job in Randallstown, Maryland?
Unemployment in Randallstown, Maryland is 6.4%, well above the Maryland rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Randallstown, Maryland?
The Gini coefficient in Randallstown 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Randallstown, Maryland?
Since 2009, the income gap between men and women in Randallstown, Maryland has narrowed from about 9% to 4% in 2024. Over that period the gap was widest at 12% in 2013, and in 2020 women out-earned men by 10%. In dollar terms, the gap has narrowed by $1,645 since 2009.
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