Toledo, Ohio Income Statistics
Toledo 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.
-
D
Toledo Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Toledo | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,486 | $71,509 | $80,455 |
| Median Personal Income | $47,354 | $58,431 | $60,758 |
| Average Yearly Income Growth | 4.6% | 4.4% | 4.8% |
| Six-Figure Earners | 4.5% | 11.1% | 13.9% |
| $200k+ Households | 2.1% | 9.1% | 13.2% |
The median household income in Toledo is about 31% lower than in Ohio. Income has been growing faster in Toledo (4.6%/yr) than in Ohio (4.4%/yr).
About 4% of adults in Toledo 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 Toledo, Ohio grew by 39.2% from 2009 to 2024, reaching $49,486 in 2024. That's an average of about 4.6% per year.
Income Inequality and the Gender Pay Gap in Toledo
| Metric | Toledo | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.532 | 0.552 |
| Male Median Income | $53,554 | $67,200 | $69,667 |
| Female Median Income | $45,643 | $54,076 | $56,850 |
| Gender Pay Gap | 14.8% | 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 Toledo, it is 0.521, 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 17% more than women's income in Toledo, Ohio. Over a 35-year career, a 17% wage gap accumulates to roughly $276,885 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Toledo, Ohio has narrowed from about 19% to 15% in 2024. Over that period the gap was widest at 19% in 2010, and was narrowest at 15% in 2023. In dollar terms, the gap has widened by $341 since 2009.
Employment
| Metric | Toledo | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.9% | 4.8% | 5.2% |
| Working from Home | 6.9% | 13.0% | 15.0% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 10,088 people are unemployed in Toledo, Ohio.
The average commute time in Toledo is 17 minutes, shorter than the 21 minutes in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Toledo, Ohio has fallen from 16.3% to 7.9% in 2024. Over that period the rate peaked at 17.2% in 2013.
Conclusion
Considering all these factors, Toledo, Ohio has an overall wealth index grade of D, making it somewhat worse than Ohio, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Toledo, Ohio.
How Rich Is Toledo, Ohio?
Toledo has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $49,486, about 31% lower than the Ohio average of $71,509.
Are incomes growing in Toledo, Ohio?
Between 2009 and 2024, the median household income in Toledo, Ohio rose 39%, from $35,561 to $49,486. Over the same years, income here lagged behind Ohio as a whole: +39% against +51%.
What was the median household income in Toledo in 2023?
In 2023, the median household income in Toledo, Ohio was $47,440, up 5% from $45,295 in 2022. The Ohio median that year was $69,792.
What was the median household income in Toledo in 2020?
In 2020, the median household income in Toledo, Ohio was $39,206. By 2024 it had risen 26% to $49,486.
Is it hard to find a job in Toledo, Ohio?
Unemployment in Toledo, Ohio is 7.9%, well above the Ohio rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Toledo, Ohio?
The Gini coefficient in Toledo 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Toledo, Ohio?
Since 2009, the income gap between men and women in Toledo, Ohio has narrowed from about 19% to 15% in 2024. Over that period the gap was widest at 19% in 2010, and was narrowest at 15% in 2023. In dollar terms, the gap has widened by $341 since 2009.
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