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 | Lodi | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,275 | $101,200 | $78,145 |
| Median Personal Income | $85,275 | $101,200 | $78,145 |
| Average income growth | 7.1% | 7.1% | 7.1% |
The median household income in Lodi is about 16% lower than in New Jersey. Income has been growing faster in Lodi (7.1%/yr) than in New Jersey (4.6%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Lodi, New Jersey grew by 56.0% from 2009 to 2023, reaching $85,275 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Lodi | Gender Pay Gap | Gini Coefficient
| Metric | Lodi | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.549 | 0.570 | 0.570 |
| Male Median Income | $67,956 | $85,325 | $67,746 |
| Female Median Income | $54,342 | $68,761 | $54,793 |
| Gender Pay Gap | 20.0% | 19.4% | 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 Lodi, it is 0.549, lower than New Jersey's 0.570, so income is more evenly distributed here than there.
Men's income is about 25% more than women's income in Lodi, New Jersey.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lodi, New Jersey has narrowed from about 26% to 20% in 2023.
Employment
| Metric | Lodi | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.9% | 6.1% | 5.2% |
| Working from Home | 7.7% | 15.0% | 13.4% |
| Commute time (minutes) | 23 | 26 | 22 |
The average commute time in Lodi is 23 minutes, shorter than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lodi, New Jersey has fallen from 7.5% to 5.9% in 2023.
Conclusion
Considering all these factors, Lodi, New Jersey has an overall wealth index grade of C, making it somewhat worse than New Jersey, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lodi, New Jersey.
How Rich Is Lodi, New Jersey?
Lodi 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 $85,275, about 16% lower than the New Jersey average of $101,200.
What is the current median household income in Lodi, New Jersey?
As of 2023, the median household income in Lodi, New Jersey is $85,275.
What was the median household income in Lodi in 2023?
In 2023, the median household income in Lodi, New Jersey was $85,275.
What was the median household income in Lodi in 2020?
In 2020, the median household income in Lodi, New Jersey was $65,572.
What is the Gini coefficient in Lodi, New Jersey?
The Gini coefficient in Lodi is 0.549. 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 Lodi, New Jersey?
Since 2009, the income gap between men and women in Lodi, New Jersey has narrowed from about 26% to 20% in 2023.