Parma, Ohio Income Statistics
Parma 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.
-
C
Parma Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Parma | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,397 | $71,509 | $80,455 |
| Median Personal Income | $54,172 | $58,431 | $60,758 |
| Average Yearly Income Growth | 3.8% | 4.4% | 4.8% |
| Six-Figure Earners | 7.0% | 11.1% | 13.9% |
| $200k+ Households | 4.6% | 9.1% | 13.2% |
The median household income in Parma is about 3% lower than in Ohio. Income has been growing slower in Parma (3.8%/yr) than in Ohio (4.4%/yr).
About 7% of adults in Parma earn six figures ($100,000 or more) a year, lower than the Ohio average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Parma, Ohio grew by 36.5% from 2009 to 2024, reaching $69,397 in 2024. That's an average of about 3.8% per year.
Income Inequality and the Gender Pay Gap in Parma
| Metric | Parma | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.491 | 0.532 | 0.552 |
| Male Median Income | $60,563 | $67,200 | $69,667 |
| Female Median Income | $51,061 | $54,076 | $56,850 |
| Gender Pay Gap | 15.7% | 19.5% | 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 Parma, it is 0.491, lower than Ohio's 0.532, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 19% more than women's income in Parma, Ohio. Over a 35-year career, a 19% wage gap accumulates to roughly $332,570 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Parma, Ohio has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 22% in 2013, and was narrowest at 15% in 2022. In dollar terms, the gap has narrowed by $209 since 2009.
Employment
| Metric | Parma | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 4.8% | 5.2% |
| Working from Home | 11.7% | 13.0% | 15.0% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 2,912 people are unemployed in Parma, Ohio.
The average commute time in Parma is 22 minutes, longer than the 21 minutes in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Parma, Ohio has fallen from 8.0% to 6.4% in 2024. Over that period the rate peaked at 9.2% in 2013 and fell as low as 5.6% in 2019.
Parma, OH Wealth Compared With Nearby Cities
How Parma, OH 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. |
|---|---|---|---|---|---|
| Parma, OH | 79,821 | $69,397 #1/2 | 3.8%/yr #2/2 | 6.4% #2/2 | 0.491 #1/2 |
| Parma Heights, OH | 20,580 | $60,997 | 4.0%/yr | 4.1% | 0.496 |
Conclusion
Considering all these factors, Parma, Ohio has an overall wealth index grade of C, making it somewhat better than Ohio, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Parma, Ohio.
How Rich Is Parma, Ohio?
Parma 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 $69,397, about 3% lower than the Ohio average of $71,509.
Are incomes growing in Parma, Ohio?
Between 2009 and 2024, the median household income in Parma, Ohio rose 37%, from $50,826 to $69,397. Over the same years, income here lagged behind Ohio as a whole: +37% against +51%.
What was the median household income in Parma in 2023?
In 2023, the median household income in Parma, Ohio was $68,115, up 2% from $66,513 in 2022. The Ohio median that year was $69,792.
What was the median household income in Parma in 2020?
In 2020, the median household income in Parma, Ohio was $58,283. By 2024 it had risen 19% to $69,397.
Is unemployment high in Parma, Ohio?
Unemployment in Parma, Ohio is 6.4%, well above the Ohio rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Parma, Ohio?
The Gini coefficient in Parma is 0.491. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Parma, Ohio?
Since 2009, the income gap between men and women in Parma, Ohio has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 22% in 2013, and was narrowest at 15% in 2022. In dollar terms, the gap has narrowed by $209 since 2009.
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