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 | Salinas Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Household Income | $22,259 | $25,099 | $78,145 |
| Median Personal Income | $24,248 | $28,660 | $61,726 |
| Average income growth | 4.5% | 3.6% | 5.1% |
| Six-Figure Earners | 0.5% | 2.0% | 13.2% |
The median household income in Salinas Municipio is about 11% lower than in Puerto Rico. Income has been growing faster in Salinas Municipio (4.5%/yr) than in Puerto Rico (3.6%/yr).
About 1% of adults in Salinas 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 Salinas Municipio, Puerto Rico grew by 68.4% from 2009 to 2023, reaching $22,259 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Salinas Municipio | Gender Pay Gap | Gini Coefficient
| Metric | Salinas Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.599 | 0.633 | 0.570 |
| Male Median Income | $23,422 | $28,516 | $67,746 |
| Female Median Income | $25,786 | $28,791 | $54,793 |
| Gender Pay Gap | -10.1% | -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 Salinas Municipio, it is 0.599, 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 10% more than men's income in Salinas Municipio, Puerto Rico. Over a 35-year career, a 10% wage gap accumulates to roughly $82,740 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Salinas Municipio, Puerto Rico has widened from about 6% to -10% in 2023. In dollar terms, the gap has narrowed by $3,619 since 2009.
Employment
| Metric | Salinas Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.0% | 12.1% | 5.2% |
| Working from Home | 5.7% | 5.4% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 605 people are unemployed in Salinas Municipio, Puerto Rico.
The average commute time in Salinas Municipio is 23 minutes, about the same as in Puerto Rico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Salinas Municipio, Puerto Rico has fallen from 20.0% to 7.0% in 2023.
Conclusion
Considering all these factors, Salinas 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 Salinas Municipio, Puerto Rico.
How Rich Is Salinas Municipio, Puerto Rico?
Salinas 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 $22,259, about 11% lower than the Puerto Rico average of $25,099.
What is the current median household income in Salinas Municipio, Puerto Rico?
As of 2023, the median household income in Salinas Municipio, Puerto Rico is $22,259.
What was the median household income in Salinas Municipio in 2023?
In 2023, the median household income in Salinas Municipio, Puerto Rico was $22,259.
What was the median household income in Salinas Municipio in 2020?
In 2020, the median household income in Salinas Municipio, Puerto Rico was $17,938.
What is the Gini coefficient in Salinas Municipio, Puerto Rico?
The Gini coefficient in Salinas Municipio is 0.599. 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 Salinas Municipio, Puerto Rico?
Since 2009, the income gap between men and women in Salinas Municipio, Puerto Rico has widened from about 6% to -10% in 2023. In dollar terms, the gap has narrowed by $3,619 since 2009.