Wealth Index
Among the top 3 wealthiest counties in Maine
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 | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Median Household Income | $81,182 | $72,025 | $78,145 |
| Median Personal Income | $61,409 | $59,309 | $61,726 |
| Average income growth | 5.4% | 5.1% | 5.1% |
| Six-Figure Earners | 11.0% | 10.3% | 13.2% |
The median household income in Sagadahoc County is about 13% higher than in Maine. Income has been growing faster in Sagadahoc County (5.4%/yr) than in Maine (5.1%/yr).
About 11% of adults in Sagadahoc County earn six figures ($100,000 or more) a year, higher than the Maine average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sagadahoc County, Maine grew by 46.0% from 2009 to 2023, reaching $81,182 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Sagadahoc County | Gender Pay Gap | Gini Coefficient
| Metric | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.485 | 0.519 | 0.570 |
| Male Median Income | $66,372 | $64,651 | $67,746 |
| Female Median Income | $56,321 | $53,280 | $54,793 |
| Gender Pay Gap | 15.1% | 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 Sagadahoc County, it is 0.485, 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 18% more than women's income in Sagadahoc County, Maine. Over a 35-year career, a 18% wage gap accumulates to roughly $351,785 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sagadahoc County, Maine has narrowed from about 25% to 15% in 2023. In dollar terms, the gap has narrowed by $1,432 since 2009.
Employment
| Metric | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 3.9% | 5.2% |
| Working from Home | 12.6% | 14.1% | 13.4% |
| Commute time (minutes) | 21 | 20 | 22 |
Approximately 906 people are unemployed in Sagadahoc County, Maine.
The average commute time in Sagadahoc County is 21 minutes, longer than the 20 minutes in Maine.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sagadahoc County, Maine has fallen from 5.1% to 4.6% in 2023.
Conclusion
Considering all these factors, Sagadahoc County, 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 Sagadahoc County, Maine.
How Rich Is Sagadahoc County, Maine?
Sagadahoc 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 $81,182, about 13% higher than the Maine average of $72,025.
What is the current median household income in Sagadahoc County, Maine?
As of 2023, the median household income in Sagadahoc County, Maine is $81,182.
What was the median household income in Sagadahoc County in 2023?
In 2023, the median household income in Sagadahoc County, Maine was $81,182.
What was the median household income in Sagadahoc County in 2020?
In 2020, the median household income in Sagadahoc County, Maine was $68,646.
What is the Gini coefficient in Sagadahoc County, Maine?
The Gini coefficient in Sagadahoc County is 0.485. 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 Sagadahoc County, Maine?
Since 2009, the income gap between men and women in Sagadahoc County, Maine has narrowed from about 25% to 15% in 2023. In dollar terms, the gap has narrowed by $1,432 since 2009.