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 | Worcester County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,792 | $101,971 | $78,145 |
| Median Personal Income | $65,593 | $75,680 | $61,726 |
| Average income growth | 5.4% | 4.3% | 5.1% |
| Six-Figure Earners | 14.5% | 19.8% | 13.2% |
The median household income in Worcester County is about 19% lower than in Maryland. Income has been growing faster in Worcester County (5.4%/yr) than in Maryland (4.3%/yr).
About 15% of adults in Worcester 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 Worcester County, Maryland grew by 56.6% from 2009 to 2023, reaching $82,792 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Worcester County | Gender Pay Gap | Gini Coefficient
| Metric | Worcester County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.518 | 0.553 | 0.570 |
| Male Median Income | $76,254 | $81,929 | $67,746 |
| Female Median Income | $56,657 | $70,143 | $54,793 |
| Gender Pay Gap | 25.7% | 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 Worcester County, it is 0.518, 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.
Men's income is about 35% more than women's income in Worcester County, Maryland. Over a 35-year career, a 35% wage gap accumulates to roughly $685,895 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Worcester County, Maryland has widened from about 15% to 26% in 2023. In dollar terms, the gap has widened by $12,717 since 2009.
Employment
| Metric | Worcester County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 4.9% | 5.2% |
| Working from Home | 11.5% | 17.2% | 13.4% |
| Commute time (minutes) | 20 | 28 | 22 |
Approximately 1,724 people are unemployed in Worcester County, Maryland.
The average commute time in Worcester County is 20 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Worcester County, Maryland has fallen from 7.9% to 6.4% in 2023.
Conclusion
Considering all these factors, Worcester 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 Worcester County, Maryland.
How Rich Is Worcester County, Maryland?
Worcester 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 $82,792, about 19% lower than the Maryland average of $101,971.
What is the current median household income in Worcester County, Maryland?
As of 2023, the median household income in Worcester County, Maryland is $82,792.
What was the median household income in Worcester County in 2023?
In 2023, the median household income in Worcester County, Maryland was $82,792.
What was the median household income in Worcester County in 2020?
In 2020, the median household income in Worcester County, Maryland was $66,586.
What is the Gini coefficient in Worcester County, Maryland?
The Gini coefficient in Worcester County is 0.518. 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 Worcester County, Maryland?
Since 2009, the income gap between men and women in Worcester County, Maryland has widened from about 15% to 26% in 2023. In dollar terms, the gap has widened by $12,717 since 2009.