Monsey, New York Income Statistics
Monsey 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.
-
F
Monsey Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Monsey | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $43,592 | $86,556 | $80,455 |
| Median Personal Income | $50,502 | $70,316 | $60,758 |
| Average Yearly Income Growth | 3.2% | 4.5% | 4.8% |
| Six-Figure Earners | 6.3% | 16.7% | 13.9% |
| $200k+ Households | 7.4% | 17.1% | 13.2% |
The median household income in Monsey is about 50% lower than in New York. Income has been growing slower in Monsey (3.2%/yr) than in New York (4.5%/yr).
About 6% of adults in Monsey earn six figures ($100,000 or more) a year, lower than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Monsey, New York grew by 13.1% from 2009 to 2024, reaching $43,592 in 2024. That's an average of about 3.2% per year.
Income Inequality and the Gender Pay Gap in Monsey
| Metric | Monsey | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.690 | 0.557 | 0.552 |
| Male Median Income | $55,515 | $77,531 | $69,667 |
| Female Median Income | $39,320 | $67,892 | $56,850 |
| Gender Pay Gap | 29.2% | 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 Monsey, it is 0.690, higher than New York's 0.557, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 41% more than women's income in Monsey, New York. Over a 35-year career, a 41% wage gap accumulates to roughly $566,825 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Monsey, New York has widened from about 15% to 29% in 2024. Over that period the gap was widest at 32% in 2023, and in 2011 women out-earned men by 1%. In dollar terms, the gap has widened by $9,853 since 2009.
Sharply against the trend: the pay gap in Monsey widened by 14.6 points while New York's narrowed by 6.0 points.
Employment
| Metric | Monsey | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.3% | 6.4% | 5.2% |
| Working from Home | 10.9% | 15.0% | 15.0% |
| Commute time (minutes) | 16 | 28 | 22 |
Approximately 590 people are unemployed in Monsey, New York.
The average commute time in Monsey is 16 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Monsey, New York has risen from 6.8% to 7.3% in 2024. Over that period the rate peaked at 9.4% in 2012 and fell as low as 6.4% in 2018.
Monsey, NY Wealth Compared With Nearby Cities
How Monsey, NY compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Monsey, NY | 29,660 | $43,592 #2/2 | 3.2%/yr #2/2 | 7.3% #2/2 | 0.690 #2/2 |
| Spring Valley, NY | 32,678 | $60,448 | 3.4%/yr | 4.3% | 0.589 |
Conclusion
Considering all these factors, Monsey, New York has an overall wealth index grade of F, making it worse than New York, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Monsey, New York.
How Rich Is Monsey, New York?
Monsey has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $43,592, about 50% lower than the New York average of $86,556.
Are incomes growing in Monsey, New York?
Between 2009 and 2024, the median household income in Monsey, New York rose 13%, from $38,531 to $43,592. Over the same years, income here lagged behind New York as a whole: +13% against +56%.
What was the median household income in Monsey in 2023?
In 2023, the median household income in Monsey, New York was $44,658, down 2% from $45,629 in 2022. The New York median that year was $85,199.
What was the median household income in Monsey in 2020?
In 2020, the median household income in Monsey, New York was $37,488. By 2024 it had risen 16% to $43,592.
What is the Gini coefficient in Monsey, New York?
The Gini coefficient in Monsey is 0.690. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Monsey, New York?
Since 2009, the income gap between men and women in Monsey, New York has widened from about 15% to 29% in 2024. Over that period the gap was widest at 32% in 2023, and in 2011 women out-earned men by 1%. In dollar terms, the gap has widened by $9,853 since 2009.
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