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 | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,929 | $72,025 | $78,145 |
| Median Personal Income | $56,177 | $59,309 | $61,726 |
| Average income growth | 4.7% | 5.1% | 5.1% |
| Six-Figure Earners | 6.9% | 10.3% | 13.2% |
The median household income in Androscoggin County is about 7% lower than in Maine. Income has been growing slower in Androscoggin County (4.7%/yr) than in Maine (5.1%/yr).
About 7% of adults in Androscoggin County earn six figures ($100,000 or more) a year, lower than the Maine average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Androscoggin County, Maine grew by 52.7% from 2009 to 2023, reaching $66,929 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Androscoggin County | Gender Pay Gap | Gini Coefficient
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.488 | 0.519 | 0.570 |
| Male Median Income | $60,806 | $64,651 | $67,746 |
| Female Median Income | $50,637 | $53,280 | $54,793 |
| Gender Pay Gap | 16.7% | 17.6% | 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 Androscoggin County, it is 0.488, lower than Maine's 0.519, 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 20% more than women's income in Androscoggin County, Maine. Over a 35-year career, a 20% wage gap accumulates to roughly $355,915 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Androscoggin County, Maine has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $1,416 since 2009.
Employment
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 3.9% | 5.2% |
| Working from Home | 12.1% | 14.1% | 13.4% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 2,492 people are unemployed in Androscoggin County, Maine.
The average commute time in Androscoggin County is 20 minutes, about the same as in Maine.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Androscoggin County, Maine has fallen from 8.8% to 4.2% in 2023.
Conclusion
Considering all these factors, Androscoggin County, Maine has an overall wealth index grade of C, making it about on par with Maine, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Androscoggin County, Maine.
How Wealthy Is Androscoggin County, Maine?
Androscoggin 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 $66,929, about 7% lower than the Maine average of $72,025.
What is the current median household income in Androscoggin County, Maine?
As of 2023, the median household income in Androscoggin County, Maine is $66,929.
What was the median household income in Androscoggin County in 2023?
In 2023, the median household income in Androscoggin County, Maine was $66,929.
What was the median household income in Androscoggin County in 2020?
In 2020, the median household income in Androscoggin County, Maine was $55,050.
What is the Gini coefficient in Androscoggin County, Maine?
The Gini coefficient in Androscoggin County is 0.488. 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 Androscoggin County, Maine?
Since 2009, the income gap between men and women in Androscoggin County, Maine has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $1,416 since 2009.