Glen Cove, New York Income Statistics
Glen Cove 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.
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B
Glen Cove Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Glen Cove | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $92,082 | $86,556 | $80,455 |
| Median Personal Income | $69,620 | $70,316 | $60,758 |
| Average Yearly Income Growth | 2.8% | 4.5% | 4.8% |
| Six-Figure Earners | 18.2% | 16.7% | 13.9% |
| $200k+ Households | 17.6% | 17.1% | 13.2% |
The median household income in Glen Cove is about 6% higher than in New York. Income has been growing slower in Glen Cove (2.8%/yr) than in New York (4.5%/yr).
About 18% of adults in Glen Cove earn six figures ($100,000 or more) a year, higher than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Glen Cove, New York grew by 24.1% from 2009 to 2024, reaching $92,082 in 2024. That's an average of about 2.8% per year.
Income Inequality and the Gender Pay Gap in Glen Cove
| Metric | Glen Cove | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.557 | 0.552 |
| Male Median Income | $73,275 | $77,531 | $69,667 |
| Female Median Income | $69,582 | $67,892 | $56,850 |
| Gender Pay Gap | 5.0% | 12.4% | 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 Glen Cove, it is 0.555, about the same as New York's 0.557, so income here is about as evenly distributed as there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 5% more than women's income in Glen Cove, New York. Over a 35-year career, a 5% wage gap accumulates to roughly $129,255 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Glen Cove, New York has narrowed from about 20% to 5% in 2024. Over that period the gap was widest at 30% in 2021, and in 2014 women out-earned men by 6%. In dollar terms, the gap has narrowed by $7,491 since 2009.
Employment
| Metric | Glen Cove | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 6.4% | 5.2% |
| Working from Home | 10.9% | 15.0% | 15.0% |
| Commute time (minutes) | 22 | 28 | 22 |
Approximately 658 people are unemployed in Glen Cove, New York.
The average commute time in Glen Cove is 22 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Glen Cove, New York has fallen from 4.6% to 4.4% in 2024. Over that period the rate peaked at 5.9% in 2014 and fell as low as 2.2% in 2019.
Conclusion
Considering all these factors, Glen Cove, New York has an overall wealth index grade of B, making it somewhat better than New York, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Glen Cove, New York.
How Rich Is Glen Cove, New York?
Glen Cove 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 $92,082, about 6% higher than the New York average of $86,556.
How fast is household income rising in Glen Cove, New York?
Between 2009 and 2024, the median household income in Glen Cove, New York rose 24%, from $74,177 to $92,082. Over the same years, income here lagged behind New York as a whole: +24% against +56%.
What was the median household income in Glen Cove in 2023?
In 2023, the median household income in Glen Cove, New York was $89,755, down 2% from $91,700 in 2022. The New York median that year was $85,199.
What was the median household income in Glen Cove in 2020?
In 2020, the median household income in Glen Cove, New York was $78,454. By 2024 it had risen 17% to $92,082.
Is unemployment high in Glen Cove, New York?
Unemployment in Glen Cove, New York is only 4.4%, well below the New York rate of 6.4%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Glen Cove, New York?
The Gini coefficient in Glen Cove is 0.555. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Glen Cove, New York?
Since 2009, the income gap between men and women in Glen Cove, New York has narrowed from about 20% to 5% in 2024. Over that period the gap was widest at 30% in 2021, and in 2014 women out-earned men by 6%. In dollar terms, the gap has narrowed by $7,491 since 2009.
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