Wealth Index
Among the 5 least wealthy counties in Maryland
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 | Wicomico County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,835 | $101,971 | $78,145 |
| Median Personal Income | $58,123 | $75,680 | $61,726 |
| Average income growth | 4.6% | 4.3% | 5.1% |
| Six-Figure Earners | 9.4% | 19.8% | 13.2% |
The median household income in Wicomico County is about 29% lower than in Maryland. Income has been growing faster in Wicomico County (4.6%/yr) than in Maryland (4.3%/yr).
About 9% of adults in Wicomico 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 Wicomico County, Maryland grew by 41.0% from 2009 to 2023, reaching $72,835 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Wicomico County | Gender Pay Gap | Gini Coefficient
| Metric | Wicomico County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.557 | 0.553 | 0.570 |
| Male Median Income | $63,573 | $81,929 | $67,746 |
| Female Median Income | $51,825 | $70,143 | $54,793 |
| Gender Pay Gap | 18.5% | 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 Wicomico County, it is 0.557, about the same as Maryland's 0.553, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 23% more than women's income in Wicomico County, Maryland. Over a 35-year career, a 23% wage gap accumulates to roughly $411,180 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wicomico County, Maryland has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $3,477 since 2009.
Employment
| Metric | Wicomico County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 4.9% | 5.2% |
| Working from Home | 7.5% | 17.2% | 13.4% |
| Commute time (minutes) | 17 | 28 | 22 |
Approximately 3,521 people are unemployed in Wicomico County, Maryland.
The average commute time in Wicomico County is 17 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wicomico County, Maryland has fallen from 9.4% to 6.4% in 2023.
Conclusion
Considering all these factors, Wicomico County, Maryland has an overall wealth index grade of C, making it somewhat worse than Maryland, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Wicomico County, Maryland.
How Rich Is Wicomico County, Maryland?
Wicomico County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $72,835, about 29% lower than the Maryland average of $101,971.
What is the current median household income in Wicomico County, Maryland?
As of 2023, the median household income in Wicomico County, Maryland is $72,835.
What was the median household income in Wicomico County in 2023?
In 2023, the median household income in Wicomico County, Maryland was $72,835.
What was the median household income in Wicomico County in 2020?
In 2020, the median household income in Wicomico County, Maryland was $60,422.
What is the Gini coefficient in Wicomico County, Maryland?
The Gini coefficient in Wicomico County is 0.557. 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 Wicomico County, Maryland?
Since 2009, the income gap between men and women in Wicomico County, Maryland has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $3,477 since 2009.