Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Puerto Rico | US Average |
|---|---|---|
| Median Household Income | $25,099 | $78,145 |
| Median Personal Income | $25,099 | $78,145 |
| Average income growth | 3.6% | 5.1% |
The median household income in Puerto Rico is about 68% lower than in US. Income has been growing slower in Puerto Rico (3.6%/yr) than in US (5.1%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Puerto Rico grew by 34.0% from 2009 to 2023, reaching $25,099 in 2023. That's an average of about 2.4% per year.
Economic Inequality in Puerto Rico | Gender Pay Gap | Gini Coefficient
| Metric | Puerto Rico | US Average |
|---|---|---|
| Gini Coefficient | 0.633 | 0.570 |
| Male Median Income | $28,516 | $67,746 |
| Female Median Income | $28,791 | $54,793 |
| Gender Pay Gap | -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 Puerto Rico, it is 0.633, higher than US's 0.570, so income is less evenly distributed here than there.
Women's income is about 1% more than men's income in Puerto Rico.
Income by Sex Over Time
The income gap between men and women in Puerto Rico has stayed about the same since 2009, at around -1%.
Employment
| Metric | Puerto Rico | US Average |
|---|---|---|
| Unemployment Rate | 12.1% | 5.2% |
| Working from Home | 5.4% | 13.4% |
| Commute time (minutes) | 23 | 22 |
The average commute time in Puerto Rico is 23 minutes, longer than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Puerto Rico has fallen from 17.3% to 12.1% in 2023.
Conclusion
Considering all these factors, Puerto Rico has an overall wealth index grade of F, making it worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Puerto Rico.
How Rich Is Puerto Rico?
Puerto Rico 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 $25,099, about 68% lower than the US average of $78,145.
What is the current median household income in Puerto Rico?
As of 2023, the median household income in Puerto Rico is $25,099.
What was the median household income in Puerto Rico in 2023?
In 2023, the median household income in Puerto Rico was $25,099.
What was the median household income in Puerto Rico in 2020?
In 2020, the median household income in Puerto Rico was $21,096.
What is the Gini coefficient in Puerto Rico?
The Gini coefficient in Puerto Rico is 0.633. 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 Puerto Rico?
The income gap between men and women in Puerto Rico has stayed about the same since 2009, at around -1%.