Wealth Index
Wealthier than 84% 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 | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $25,298 | $25,099 | $78,145 |
| Median Personal Income | $27,408 | $28,660 | $61,726 |
| Average income growth | 5.4% | 3.6% | 5.1% |
| Six-Figure Earners | 2.0% | 2.0% | 13.2% |
The median household income in Rincón Municipio is about 1% higher than in Puerto Rico. Income has been growing faster in Rincón Municipio (5.4%/yr) than in Puerto Rico (3.6%/yr).
About 2% of adults in Rincón Municipio earn six figures ($100,000 or more) a year, about the same as the Puerto Rico average of 2%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Rincón Municipio, Puerto Rico grew by 66.0% from 2009 to 2023, reaching $25,298 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Rincón Municipio | Gender Pay Gap | Gini Coefficient
| Metric | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.593 | 0.633 | 0.570 |
| Male Median Income | $27,713 | $28,516 | $67,746 |
| Female Median Income | $27,248 | $28,791 | $54,793 |
| Gender Pay Gap | 1.7% | -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 Rincón Municipio, it is 0.593, 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.
Men's income is about 2% more than women's income in Rincón Municipio, Puerto Rico. Over a 35-year career, a 2% wage gap accumulates to roughly $16,275 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rincón Municipio, Puerto Rico has narrowed from about -6% to 2% in 2023. In dollar terms, the gap has widened by $1,337 since 2009.
Employment
| Metric | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 12.1% | 5.2% |
| Working from Home | 9.4% | 5.4% | 13.4% |
| Commute time (minutes) | 16 | 23 | 22 |
Approximately 346 people are unemployed in Rincón Municipio, Puerto Rico.
The average commute time in Rincón Municipio is 16 minutes, shorter than the 23 minutes in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rincón Municipio, Puerto Rico has fallen from 20.0% to 6.2% in 2023.
Conclusion
Considering all these factors, Rincón 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 Rincón Municipio, Puerto Rico.
How Rich Is Rincón Municipio, Puerto Rico?
Rincón 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 $25,298, about 1% higher than the Puerto Rico average of $25,099.
What is the current median household income in Rincón Municipio, Puerto Rico?
As of 2023, the median household income in Rincón Municipio, Puerto Rico is $25,298.
What was the median household income in Rincón Municipio in 2023?
In 2023, the median household income in Rincón Municipio, Puerto Rico was $25,298.
What was the median household income in Rincón Municipio in 2020?
In 2020, the median household income in Rincón Municipio, Puerto Rico was $20,167.
What is the Gini coefficient in Rincón Municipio, Puerto Rico?
The Gini coefficient in Rincón Municipio is 0.593. 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 Rincón Municipio, Puerto Rico?
Since 2009, the income gap between men and women in Rincón Municipio, Puerto Rico has narrowed from about -6% to 2% in 2023. In dollar terms, the gap has widened by $1,337 since 2009.