Towson, Maryland Income Statistics
Towson 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
Towson Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Towson | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,951 | $103,916 | $80,455 |
| Median Personal Income | $87,376 | $75,715 | $60,758 |
| Average Yearly Income Growth | 3.2% | 4.0% | 4.8% |
| Six-Figure Earners | 22.4% | 20.7% | 13.9% |
| $200k+ Households | 23.3% | 20.3% | 13.2% |
The median household income in Towson is about 3% lower than in Maryland. Income has been growing slower in Towson (3.2%/yr) than in Maryland (4.0%/yr).
About 22% of adults in Towson 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 Towson, Maryland grew by 42.1% from 2009 to 2024, reaching $100,951 in 2024. That's an average of about 3.2% per year.
Income Inequality and the Gender Pay Gap in Towson
| Metric | Towson | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.534 | 0.552 |
| Male Median Income | $104,817 | $84,327 | $69,667 |
| Female Median Income | $80,969 | $72,201 | $56,850 |
| Gender Pay Gap | 22.8% | 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 Towson, it is 0.570, higher than Maryland's 0.534, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 29% more than women's income in Towson, Maryland. Over a 35-year career, a 29% wage gap accumulates to roughly $834,680 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Towson, Maryland has widened from about 18% to 23% in 2024. Over that period the gap was widest at 25% in 2023, and was narrowest at 18% in 2017. In dollar terms, the gap has widened by $11,083 since 2009.
Sharply against the trend: the pay gap in Towson widened by 4.5 points while Maryland's narrowed by 5.1 points.
Employment
| Metric | Towson | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.8% | 5.2% |
| Working from Home | 23.0% | 19.3% | 15.0% |
| Commute time (minutes) | 22 | 28 | 22 |
Approximately 1,563 people are unemployed in Towson, Maryland.
The average commute time in Towson is 22 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Towson, Maryland has risen from 4.1% to 4.9% in 2024. Over that period the rate peaked at 5.7% in 2014.
Towson, MD Wealth Compared With Nearby Cities
How Towson, 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. |
|---|---|---|---|---|---|
| Towson, MD | 60,458 | $100,951 #1/2 | 3.2%/yr #2/2 | 4.9% #1/2 | 0.570 #2/2 |
| Parkville, MD | 30,547 | $78,821 | 3.8%/yr | 5.0% | 0.503 |
Conclusion
Considering all these factors, Towson, 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 Towson, Maryland.
How Rich Is Towson, Maryland?
Towson 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 $100,951, about 3% lower than the Maryland average of $103,916.
How has median household income changed in Towson, Maryland?
Between 2009 and 2024, the median household income in Towson, Maryland rose 42%, from $71,067 to $100,951. Over the same years, income here lagged behind Maryland as a whole: +42% against +49%.
What was the median household income in Towson in 2023?
In 2023, the median household income in Towson, Maryland was $100,257, up 2% from $98,045 in 2022. The Maryland median that year was $101,974.
What was the median household income in Towson in 2020?
In 2020, the median household income in Towson, Maryland was $90,847. By 2024 it had risen 11% to $100,951.
What is the Gini coefficient in Towson, Maryland?
The Gini coefficient in Towson is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Towson, Maryland?
Since 2009, the income gap between men and women in Towson, Maryland has widened from about 18% to 23% in 2024. Over that period the gap was widest at 25% in 2023, and was narrowest at 18% in 2017. In dollar terms, the gap has widened by $11,083 since 2009.
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