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 | Naranjito Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $21,402 | $25,099 | $78,145 |
| Median Personal Income | $22,425 | $28,660 | $61,726 |
| Average income growth | 1.7% | 3.6% | 5.1% |
| Six-Figure Earners | 0.7% | 2.0% | 13.2% |
The median household income in Naranjito Municipio is about 15% lower than in Puerto Rico. Income has been growing slower in Naranjito Municipio (1.7%/yr) than in Puerto Rico (3.6%/yr).
About 1% of adults in Naranjito Municipio earn six figures ($100,000 or more) a year, lower than the Puerto Rico average of 2%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Naranjito Municipio, Puerto Rico grew by 48.3% from 2009 to 2023, reaching $21,402 in 2023. That's an average of about 1.7% per year.
Economic Inequality in Naranjito Municipio | Gender Pay Gap | Gini Coefficient
| Metric | Naranjito Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.640 | 0.633 | 0.570 |
| Male Median Income | $23,710 | $28,516 | $67,746 |
| Female Median Income | $21,974 | $28,791 | $54,793 |
| Gender Pay Gap | 7.3% | -1.0% | 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 Naranjito Municipio, it is 0.640, higher than Puerto Rico's 0.633, 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 8% more than women's income in Naranjito Municipio, Puerto Rico. Over a 35-year career, a 8% wage gap accumulates to roughly $60,760 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Naranjito Municipio, Puerto Rico has narrowed from about -9% to 7% in 2023. In dollar terms, the gap has widened by $3,346 since 2009.
Employment
| Metric | Naranjito Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 15.8% | 12.1% | 5.2% |
| Working from Home | 3.1% | 5.4% | 13.4% |
| Commute time (minutes) | 40 | 23 | 22 |
Approximately 1,651 people are unemployed in Naranjito Municipio, Puerto Rico.
The average commute time in Naranjito Municipio is 40 minutes, longer than the 23 minutes in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Naranjito Municipio, Puerto Rico has risen from 7.8% to 15.8% in 2023.
Conclusion
Considering all these factors, Naranjito Municipio, Puerto Rico has an overall wealth index grade of F, making it about on par with Puerto Rico, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Naranjito Municipio, Puerto Rico.
How Rich Is Naranjito Municipio, Puerto Rico?
Naranjito Municipio has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $21,402, about 15% lower than the Puerto Rico average of $25,099.
What is the current median household income in Naranjito Municipio, Puerto Rico?
As of 2023, the median household income in Naranjito Municipio, Puerto Rico is $21,402.
What was the median household income in Naranjito Municipio in 2023?
In 2023, the median household income in Naranjito Municipio, Puerto Rico was $21,402.
What was the median household income in Naranjito Municipio in 2020?
In 2020, the median household income in Naranjito Municipio, Puerto Rico was $19,124.
What is the Gini coefficient in Naranjito Municipio, Puerto Rico?
The Gini coefficient in Naranjito Municipio is 0.640. 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 Naranjito Municipio, Puerto Rico?
Since 2009, the income gap between men and women in Naranjito Municipio, Puerto Rico has narrowed from about -9% to 7% in 2023. In dollar terms, the gap has widened by $3,346 since 2009.