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 | Westland | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,974 | $71,353 | $78,145 |
| Median Personal Income | $53,603 | $60,704 | $61,726 |
| Average income growth | 4.8% | 4.9% | 5.1% |
| Six-Figure Earners | 7.0% | 10.8% | 13.2% |
The median household income in Westland is about 13% lower than in Michigan. Income has been growing slower in Westland (4.8%/yr) than in Michigan (4.9%/yr).
About 7% of adults in Westland earn six figures ($100,000 or more) a year, lower than the Michigan average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Westland, Michigan grew by 27.0% from 2009 to 2023, reaching $61,974 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Westland | Gender Pay Gap | Gini Coefficient
| Metric | Westland | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.508 | 0.556 | 0.570 |
| Male Median Income | $58,088 | $67,497 | $67,746 |
| Female Median Income | $48,592 | $52,846 | $54,793 |
| Gender Pay Gap | 16.3% | 21.7% | 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 Westland, it is 0.508, lower than Michigan's 0.556, 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 Westland, Michigan. Over a 35-year career, a 20% wage gap accumulates to roughly $332,360 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Westland, Michigan has narrowed from about 26% to 16% in 2023. In dollar terms, the gap has narrowed by $2,850 since 2009.
Employment
| Metric | Westland | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.8% | 5.2% |
| Working from Home | 9.4% | 12.0% | 13.4% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 2,295 people are unemployed in Westland, Michigan.
The average commute time in Westland is 22 minutes, longer than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Westland, Michigan has fallen from 13.6% to 5.3% in 2023.
Conclusion
Considering all these factors, Westland, Michigan has an overall wealth index grade of C, making it about on par with Michigan, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Westland, Michigan.
How Rich Is Westland, Michigan?
Westland 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 $61,974, about 13% lower than the Michigan average of $71,353.
What is the current median household income in Westland, Michigan?
As of 2023, the median household income in Westland, Michigan is $61,974.
What was the median household income in Westland in 2023?
In 2023, the median household income in Westland, Michigan was $61,974.
What was the median household income in Westland in 2020?
In 2020, the median household income in Westland, Michigan was $52,438.
What is the Gini coefficient in Westland, Michigan?
The Gini coefficient in Westland is 0.508. 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 Westland, Michigan?
Since 2009, the income gap between men and women in Westland, Michigan has narrowed from about 26% to 16% in 2023. In dollar terms, the gap has narrowed by $2,850 since 2009.