Wealth Index
Wealthier than 73% of counties in Pennsylvania
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 | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,554 | $76,231 | $78,145 |
| Median Personal Income | $60,352 | $63,240 | $61,726 |
| Average income growth | 4.5% | 4.7% | 5.1% |
| Six-Figure Earners | 10.3% | 12.4% | 13.2% |
The median household income in Berks County is about 3% higher than in Pennsylvania. Income has been growing slower in Berks County (4.5%/yr) than in Pennsylvania (4.7%/yr).
About 10% of adults in Berks County earn six figures ($100,000 or more) a year, lower than the Pennsylvania average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Berks County, Pennsylvania grew by 45.3% from 2009 to 2023, reaching $78,554 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Berks County | Gender Pay Gap | Gini Coefficient
| Metric | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.550 | 0.570 |
| Male Median Income | $64,993 | $69,913 | $67,746 |
| Female Median Income | $53,846 | $55,807 | $54,793 |
| Gender Pay Gap | 17.2% | 20.2% | 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 Berks County, it is 0.535, lower than Pennsylvania's 0.550, 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 21% more than women's income in Berks County, Pennsylvania. Over a 35-year career, a 21% wage gap accumulates to roughly $390,145 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Berks County, Pennsylvania has narrowed from about 25% to 17% in 2023. In dollar terms, the gap has narrowed by $605 since 2009.
Employment
| Metric | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.2% | 5.2% |
| Working from Home | 10.6% | 13.8% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 11,744 people are unemployed in Berks County, Pennsylvania.
The average commute time in Berks County is 21 minutes, shorter than the 22 minutes in Pennsylvania.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Berks County, Pennsylvania has fallen from 8.7% to 5.3% in 2023.
Conclusion
Considering all these factors, Berks County, Pennsylvania has an overall wealth index grade of B, making it about on par with Pennsylvania, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Berks County, Pennsylvania.
How Rich Is Berks County, Pennsylvania?
Berks 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 $78,554, about 3% higher than the Pennsylvania average of $76,231.
What is the current median household income in Berks County, Pennsylvania?
As of 2023, the median household income in Berks County, Pennsylvania is $78,554.
What was the median household income in Berks County in 2023?
In 2023, the median household income in Berks County, Pennsylvania was $78,554.
What was the median household income in Berks County in 2020?
In 2020, the median household income in Berks County, Pennsylvania was $66,857.
What is the Gini coefficient in Berks County, Pennsylvania?
The Gini coefficient in Berks County is 0.535. 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 Berks County, Pennsylvania?
Since 2009, the income gap between men and women in Berks County, Pennsylvania has narrowed from about 25% to 17% in 2023. In dollar terms, the gap has narrowed by $605 since 2009.