Wealth Index
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 | Erie County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,793 | $76,231 | $78,145 |
| Median Personal Income | $53,592 | $63,240 | $61,726 |
| Average income growth | 3.9% | 4.7% | 5.1% |
| Six-Figure Earners | 7.7% | 12.4% | 13.2% |
The median household income in Erie County is about 19% lower than in Pennsylvania. Income has been growing slower in Erie County (3.9%/yr) than in Pennsylvania (4.7%/yr).
About 8% of adults in Erie 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 Erie County, Pennsylvania grew by 42.5% from 2009 to 2023, reaching $61,793 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Erie County | Gender Pay Gap | Gini Coefficient
| Metric | Erie County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.550 | 0.570 |
| Male Median Income | $58,557 | $69,913 | $67,746 |
| Female Median Income | $49,149 | $55,807 | $54,793 |
| Gender Pay Gap | 16.1% | 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 Erie County, it is 0.538, 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 19% more than women's income in Erie County, Pennsylvania. Over a 35-year career, a 19% wage gap accumulates to roughly $329,280 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Erie County, Pennsylvania has narrowed from about 27% to 16% in 2023. In dollar terms, the gap has narrowed by $2,321 since 2009.
Employment
| Metric | Erie County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 5.2% | 5.2% |
| Working from Home | 8.2% | 13.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 7,185 people are unemployed in Erie County, Pennsylvania.
The average commute time in Erie County is 17 minutes, shorter than the 22 minutes in Pennsylvania.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Erie County, Pennsylvania has fallen from 8.3% to 5.5% in 2023.
Conclusion
Considering all these factors, Erie County, Pennsylvania has an overall wealth index grade of C, making it about on par with Pennsylvania, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Erie County, Pennsylvania.
How Wealthy Is Erie County, Pennsylvania?
Erie 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 $61,793, about 19% lower than the Pennsylvania average of $76,231.
What is the current median household income in Erie County, Pennsylvania?
As of 2023, the median household income in Erie County, Pennsylvania is $61,793.
What was the median household income in Erie County in 2023?
In 2023, the median household income in Erie County, Pennsylvania was $61,793.
What was the median household income in Erie County in 2020?
In 2020, the median household income in Erie County, Pennsylvania was $53,123.
What is the Gini coefficient in Erie County, Pennsylvania?
The Gini coefficient in Erie County is 0.538. 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 Erie County, Pennsylvania?
Since 2009, the income gap between men and women in Erie County, Pennsylvania has narrowed from about 27% to 16% in 2023. In dollar terms, the gap has narrowed by $2,321 since 2009.