Wealth Index
Wealthier than 83% 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 | RÃo Grande Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $27,048 | $25,099 | $78,145 |
| Median Personal Income | $26,837 | $28,660 | $61,726 |
| Average income growth | 2.3% | 3.6% | 5.1% |
| Six-Figure Earners | 0.5% | 2.0% | 13.2% |
The median household income in RÃo Grande Municipio is about 8% higher than in Puerto Rico. Income has been growing slower in RÃo Grande Municipio (2.3%/yr) than in Puerto Rico (3.6%/yr).
About 1% of adults in RÃo Grande 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 RÃo Grande Municipio, Puerto Rico grew by 24.6% from 2009 to 2023, reaching $27,048 in 2023. That's an average of about 2.3% per year.
Economic Inequality in RÃo Grande Municipio | Gender Pay Gap | Gini Coefficient
| Metric | RÃo Grande Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.633 | 0.570 |
| Male Median Income | $24,942 | $28,516 | $67,746 |
| Female Median Income | $28,104 | $28,791 | $54,793 |
| Gender Pay Gap | -12.7% | -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 RÃo Grande Municipio, it is 0.583, lower than Puerto Rico's 0.633, so income is more 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 13% more than men's income in RÃo Grande Municipio, Puerto Rico. Over a 35-year career, a 13% wage gap accumulates to roughly $110,670 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in RÃo Grande Municipio, Puerto Rico has widened from about 5% to -13% in 2023. In dollar terms, the gap has narrowed by $4,145 since 2009.
Employment
| Metric | RÃo Grande Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 16.5% | 12.1% | 5.2% |
| Working from Home | 6.8% | 5.4% | 13.4% |
| Commute time (minutes) | 33 | 23 | 22 |
Approximately 3,460 people are unemployed in RÃo Grande Municipio, Puerto Rico.
The average commute time in RÃo Grande Municipio is 33 minutes, longer than the 23 minutes in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in RÃo Grande Municipio, Puerto Rico has fallen from 20.0% to 16.5% in 2023.
Conclusion
Considering all these factors, RÃo Grande Municipio, Puerto Rico has an overall wealth index grade of F, making it somewhat better than Puerto Rico, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in RÃo Grande Municipio, Puerto Rico.
How Rich Is RÃo Grande Municipio, Puerto Rico?
RÃo Grande 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 $27,048, about 8% higher than the Puerto Rico average of $25,099.
What is the current median household income in RÃo Grande Municipio, Puerto Rico?
As of 2023, the median household income in RÃo Grande Municipio, Puerto Rico is $27,048.
What was the median household income in RÃo Grande Municipio in 2023?
In 2023, the median household income in RÃo Grande Municipio, Puerto Rico was $27,048.
What was the median household income in RÃo Grande Municipio in 2020?
In 2020, the median household income in RÃo Grande Municipio, Puerto Rico was $23,520.
What is the Gini coefficient in RÃo Grande Municipio, Puerto Rico?
The Gini coefficient in RÃo Grande Municipio is 0.583. 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 RÃo Grande Municipio, Puerto Rico?
Since 2009, the income gap between men and women in RÃo Grande Municipio, Puerto Rico has widened from about 5% to -13% in 2023. In dollar terms, the gap has narrowed by $4,145 since 2009.