Wealth Index
Less wealthy than 90% of counties in Puerto Rico
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 | Orocovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $19,035 | $25,099 | $78,145 |
| Median Personal Income | $22,958 | $28,660 | $61,726 |
| Average income growth | 4.0% | 3.6% | 5.1% |
| Six-Figure Earners | 0.2% | 2.0% | 13.2% |
The median household income in Orocovis Municipio is about 24% lower than in Puerto Rico. Income has been growing faster in Orocovis Municipio (4.0%/yr) than in Puerto Rico (3.6%/yr).
About 0% of adults in Orocovis 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 Orocovis Municipio, Puerto Rico grew by 43.2% from 2009 to 2023, reaching $19,035 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Orocovis Municipio | Gender Pay Gap | Gini Coefficient
| Metric | Orocovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.648 | 0.633 | 0.570 |
| Male Median Income | $22,128 | $28,516 | $67,746 |
| Female Median Income | $24,284 | $28,791 | $54,793 |
| Gender Pay Gap | -9.7% | -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 Orocovis Municipio, it is 0.648, 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.
Women's income is about 10% more than men's income in Orocovis Municipio, Puerto Rico. Over a 35-year career, a 10% wage gap accumulates to roughly $75,460 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Orocovis Municipio, Puerto Rico has widened from about -4% to -10% in 2023. In dollar terms, the gap has narrowed by $1,486 since 2009.
Employment
| Metric | Orocovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 14.0% | 12.1% | 5.2% |
| Working from Home | 2.7% | 5.4% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 952 people are unemployed in Orocovis Municipio, Puerto Rico.
The average commute time in Orocovis Municipio is 30 minutes, longer than the 23 minutes in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Orocovis Municipio, Puerto Rico has fallen from 20.0% to 14.0% in 2023.
Conclusion
Considering all these factors, Orocovis Municipio, Puerto Rico has an overall wealth index grade of F, making it somewhat worse than Puerto Rico, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Orocovis Municipio, Puerto Rico.
How Wealthy Is Orocovis Municipio, Puerto Rico?
Orocovis 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 $19,035, about 24% lower than the Puerto Rico average of $25,099.
What is the current median household income in Orocovis Municipio, Puerto Rico?
As of 2023, the median household income in Orocovis Municipio, Puerto Rico is $19,035.
What was the median household income in Orocovis Municipio in 2023?
In 2023, the median household income in Orocovis Municipio, Puerto Rico was $19,035.
What was the median household income in Orocovis Municipio in 2020?
In 2020, the median household income in Orocovis Municipio, Puerto Rico was $15,785.
What is the Gini coefficient in Orocovis Municipio, Puerto Rico?
The Gini coefficient in Orocovis Municipio is 0.648. 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 Orocovis Municipio, Puerto Rico?
Since 2009, the income gap between men and women in Orocovis Municipio, Puerto Rico has widened from about -4% to -10% in 2023. In dollar terms, the gap has narrowed by $1,486 since 2009.