Wealth Index
Less wealthy than 79% 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 | Tompkins County | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,267 | $85,191 | $78,145 |
| Median Personal Income | $66,069 | $70,822 | $61,726 |
| Average income growth | 4.4% | 4.9% | 5.1% |
| Six-Figure Earners | 12.6% | 16.1% | 13.2% |
The median household income in Tompkins County is about 14% lower than in New York. Income has been growing slower in Tompkins County (4.4%/yr) than in New York (4.9%/yr).
About 13% of adults in Tompkins 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 Tompkins County, New York grew by 56.7% from 2009 to 2023, reaching $73,267 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Tompkins County | Gender Pay Gap | Gini Coefficient
| Metric | Tompkins County | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.609 | 0.576 | 0.570 |
| Male Median Income | $72,564 | $75,380 | $67,746 |
| Female Median Income | $60,173 | $65,850 | $54,793 |
| Gender Pay Gap | 17.1% | 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 Tompkins County, it is 0.609, higher than New York's 0.576, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 21% more than women's income in Tompkins County, New York. Over a 35-year career, a 21% wage gap accumulates to roughly $433,685 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tompkins County, New York has widened from about 16% to 17% in 2023. In dollar terms, the gap has widened by $4,724 since 2009.
Employment
| Metric | Tompkins County | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 6.2% | 5.2% |
| Working from Home | 19.0% | 13.4% | 13.4% |
| Commute time (minutes) | 17 | 28 | 22 |
Approximately 2,778 people are unemployed in Tompkins County, New York.
The average commute time in Tompkins County is 17 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tompkins County, New York has fallen from 5.6% to 5.3% in 2023.
Conclusion
Considering all these factors, Tompkins County, New York has an overall wealth index grade of C, making it somewhat worse than New York, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Tompkins County, New York.
How Rich Is Tompkins County, New York?
Tompkins County 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 $73,267, about 14% lower than the New York average of $85,191.
What is the current median household income in Tompkins County, New York?
As of 2023, the median household income in Tompkins County, New York is $73,267.
What was the median household income in Tompkins County in 2023?
In 2023, the median household income in Tompkins County, New York was $73,267.
What was the median household income in Tompkins County in 2020?
In 2020, the median household income in Tompkins County, New York was $61,441.
What is the Gini coefficient in Tompkins County, New York?
The Gini coefficient in Tompkins County is 0.609. 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 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Tompkins County, New York?
Since 2009, the income gap between men and women in Tompkins County, New York has widened from about 16% to 17% in 2023. In dollar terms, the gap has widened by $4,724 since 2009.