Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Maine
- Cumberland County (113% of U.S. avg)
- York County (109% of U.S. avg)
- Sagadahoc County (108% of U.S. avg)
- Piscataquis County (83% of U.S. avg)
- Washington County (86% of U.S. avg)
- Aroostook County (87% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Maine | US Average |
|---|---|---|
| Median Household Income | $72,025 | $78,145 |
| Median Personal Income | $59,309 | $61,726 |
| Average income growth | 5.1% | 5.1% |
| Six-Figure Earners | 10.3% | 13.2% |
The median household income in Maine is about 8% lower than in US. Income has been growing faster in Maine (5.1%/yr) than in US (5.1%/yr).
About 10% of adults in Maine earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Maine grew by 54.5% from 2009 to 2023, reaching $72,025 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Maine | Gender Pay Gap | Gini Coefficient
| Metric | Maine | US Average |
|---|---|---|
| Gini Coefficient | 0.519 | 0.570 |
| Male Median Income | $64,651 | $67,746 |
| Female Median Income | $53,280 | $54,793 |
| Gender Pay Gap | 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 Maine, it is 0.519, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 21% more than women's income in Maine. Over a 35-year career, a 21% wage gap accumulates to roughly $397,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Maine has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $1,070 since 2009.
Employment
| Metric | Maine | US Average |
|---|---|---|
| Unemployment Rate | 3.9% | 5.2% |
| Working from Home | 14.1% | 13.4% |
| Commute time (minutes) | 20 | 22 |
Approximately 28,047 people are unemployed in Maine.
The average commute time in Maine is 20 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Maine has fallen from 7.1% to 3.9% in 2023.
Conclusion
Considering all these factors, Maine has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Maine.
How Rich Is Maine?
Maine 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 $72,025, about 8% lower than the US average of $78,145.
What is the current median household income in Maine?
As of 2023, the median household income in Maine is $72,025.
What was the median household income in Maine in 2023?
In 2023, the median household income in Maine was $72,025.
What was the median household income in Maine in 2020?
In 2020, the median household income in Maine was $59,545.
What is the Gini coefficient in Maine?
The Gini coefficient in Maine is 0.519. 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 Maine?
Since 2009, the income gap between men and women in Maine has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $1,070 since 2009.