Wealth Index
Wealthier than 85% of counties in New York
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 | Ontario County | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,027 | $85,191 | $78,145 |
| Median Personal Income | $65,631 | $70,822 | $61,726 |
| Average income growth | 4.6% | 4.9% | 5.1% |
| Six-Figure Earners | 11.6% | 16.1% | 13.2% |
The median household income in Ontario County is about 6% lower than in New York. Income has been growing slower in Ontario County (4.6%/yr) than in New York (4.9%/yr).
About 12% of adults in Ontario County earn six figures ($100,000 or more) a year, lower than the New York average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Ontario County, New York grew by 45.4% from 2009 to 2023, reaching $80,027 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Ontario County | Gender Pay Gap | Gini Coefficient
| Metric | Ontario County | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.576 | 0.570 |
| Male Median Income | $72,686 | $75,380 | $67,746 |
| Female Median Income | $58,952 | $65,850 | $54,793 |
| Gender Pay Gap | 18.9% | 12.6% | 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 Ontario County, it is 0.521, lower than New York's 0.576, 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 23% more than women's income in Ontario County, New York. Over a 35-year career, a 23% wage gap accumulates to roughly $480,690 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ontario County, New York has narrowed from about 28% to 19% in 2023. In dollar terms, the gap has widened by $63 since 2009.
Employment
| Metric | Ontario County | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 6.2% | 5.2% |
| Working from Home | 11.5% | 13.4% | 13.4% |
| Commute time (minutes) | 20 | 28 | 22 |
Approximately 2,291 people are unemployed in Ontario County, New York.
The average commute time in Ontario County is 20 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ontario County, New York has fallen from 6.1% to 4.0% in 2023.
Conclusion
Considering all these factors, Ontario County, 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 Ontario County, New York.
How Wealthy Is Ontario County, New York?
Ontario County 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 $80,027, about 6% lower than the New York average of $85,191.
What is the current median household income in Ontario County, New York?
As of 2023, the median household income in Ontario County, New York is $80,027.
What was the median household income in Ontario County in 2023?
In 2023, the median household income in Ontario County, New York was $80,027.
What was the median household income in Ontario County in 2020?
In 2020, the median household income in Ontario County, New York was $65,600.
What is the Gini coefficient in Ontario County, New York?
The Gini coefficient in Ontario County is 0.521. 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 Ontario County, New York?
Since 2009, the income gap between men and women in Ontario County, New York has narrowed from about 28% to 19% in 2023. In dollar terms, the gap has widened by $63 since 2009.