Saco, Maine Income Statistics
Saco 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.
-
B
Saco Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Median Household Income | $90,773 | $74,723 | $80,455 |
| Median Personal Income | $61,174 | $58,018 | $60,758 |
| Average Yearly Income Growth | 5.4% | 4.9% | 4.8% |
| Six-Figure Earners | 15.3% | 11.2% | 13.9% |
| $200k+ Households | 14.9% | 9.4% | 13.2% |
The median household income in Saco is about 21% higher than in Maine. Income has been growing faster in Saco (5.4%/yr) than in Maine (4.9%/yr).
About 15% of adults in Saco earn six figures ($100,000 or more) a year, higher than the Maine average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Saco, Maine grew by 62.2% from 2009 to 2024, reaching $90,773 in 2024. That's an average of about 5.4% per year.
Income Inequality and the Gender Pay Gap in Saco
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.472 | 0.510 | 0.552 |
| Male Median Income | $71,507 | $66,614 | $69,667 |
| Female Median Income | $61,867 | $55,906 | $56,850 |
| Gender Pay Gap | 13.5% | 16.1% | 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 Saco, it is 0.472, lower than Maine's 0.510, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 16% more than women's income in Saco, Maine. Over a 35-year career, a 16% wage gap accumulates to roughly $337,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Saco, Maine has narrowed from about 31% to 13% in 2024. Over that period the gap was narrowest at 4% in 2020. In dollar terms, the gap has narrowed by $5,532 since 2009.
Employment
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.1% | 3.8% | 5.2% |
| Working from Home | 19.0% | 15.9% | 15.0% |
| Commute time (minutes) | 22 | 20 | 22 |
Approximately 257 people are unemployed in Saco, Maine.
The average commute time in Saco is 22 minutes, longer than the 20 minutes in Maine.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Saco, Maine has fallen from 5.4% to 2.1% in 2024. Over that period the rate peaked at 5.6% in 2013 and fell as low as 1.1% in 2022.
Saco, ME Wealth Compared With Nearby Cities
How Saco, ME 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. |
|---|---|---|---|---|---|
| Saco, ME | 20,819 | $90,773 #1/2 | 5.4%/yr #2/2 | 2.1% #1/2 | 0.472 #1/2 |
| Biddeford, ME | 22,492 | $72,002 | 5.5%/yr | 3.1% | 0.511 |
Conclusion
Considering all these factors, Saco, Maine has an overall wealth index grade of B, making it somewhat better than Maine, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Saco, Maine.
How Rich Is Saco, Maine?
Saco 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 $90,773, about 21% higher than the Maine average of $74,723.
Are incomes growing in Saco, Maine?
Between 2009 and 2024, the median household income in Saco, Maine rose 62%, from $55,972 to $90,773. Over the same years, income here outpaced Maine as a whole: +62% against +60%.
What was the median household income in Saco in 2023?
In 2023, the median household income in Saco, Maine was $84,798, up 6% from $80,088 in 2022. The Maine median that year was $72,024.
What was the median household income in Saco in 2020?
In 2020, the median household income in Saco, Maine was $70,522. By 2024 it had risen 29% to $90,773.
Do many residents of Saco, Maine earn over $100,000?
Yes. 15% of adults in Saco, Maine earn $100,000 or more a year (about 1 in 7), against 11% (about 1 in 9) in Maine. 15% of households have a combined income of $200,000 or more, compared with 9% in Maine.
Is unemployment high in Saco, Maine?
Unemployment in Saco, Maine is only 2.1%, well below the Maine rate of 3.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Saco, Maine?
The Gini coefficient in Saco is 0.472. 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 Saco, Maine?
Since 2009, the income gap between men and women in Saco, Maine has narrowed from about 31% to 13% in 2024. Over that period the gap was narrowest at 4% in 2020. In dollar terms, the gap has narrowed by $5,532 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →