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 | Washington County | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,210 | $86,475 | $78,145 |
| Median Personal Income | $77,114 | $67,439 | $61,726 |
| Average income growth | 4.8% | 5.7% | 5.1% |
| Six-Figure Earners | 17.8% | 13.8% | 13.2% |
The median household income in Washington County is about 19% higher than in Rhode Island. Income has been growing slower in Washington County (4.8%/yr) than in Rhode Island (5.7%/yr).
About 18% of adults in Washington County earn six figures ($100,000 or more) a year, higher than the Rhode Island average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Washington County, Rhode Island grew by 47.7% from 2009 to 2023, reaching $103,210 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Washington County | Gender Pay Gap | Gini Coefficient
| Metric | Washington County | Rhode Island Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.549 | 0.545 | 0.570 |
| Male Median Income | $83,970 | $72,845 | $67,746 |
| Female Median Income | $69,302 | $60,697 | $54,793 |
| Gender Pay Gap | 17.5% | 16.7% | 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 Washington County, it is 0.549, about the same as Rhode Island's 0.545, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 21% more than women's income in Washington County, Rhode Island. Over a 35-year career, a 21% wage gap accumulates to roughly $513,380 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Washington County, Rhode Island has narrowed from about 26% to 17% in 2023. In dollar terms, the gap has narrowed by $1,113 since 2009.
Employment
| Metric | Washington County | Rhode Island Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.7% | 5.2% |
| Working from Home | 13.2% | 11.5% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 3,314 people are unemployed in Washington County, Rhode Island.
The average commute time in Washington County is 23 minutes, longer than the 21 minutes in Rhode Island.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Washington County, Rhode Island has fallen from 6.5% to 4.7% in 2023.
Conclusion
Considering all these factors, Washington County, Rhode Island has an overall wealth index grade of B, making it somewhat better than Rhode Island, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Washington County, Rhode Island.
How Rich Is Washington County, Rhode Island?
Washington County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $103,210, about 19% higher than the Rhode Island average of $86,475.
What is the current median household income in Washington County, Rhode Island?
As of 2023, the median household income in Washington County, Rhode Island is $103,210.
What was the median household income in Washington County in 2023?
In 2023, the median household income in Washington County, Rhode Island was $103,210.
What was the median household income in Washington County in 2020?
In 2020, the median household income in Washington County, Rhode Island was $89,258.
What is the Gini coefficient in Washington County, Rhode Island?
The Gini coefficient in Washington County is 0.549. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Washington County, Rhode Island?
Since 2009, the income gap between men and women in Washington County, Rhode Island has narrowed from about 26% to 17% in 2023. In dollar terms, the gap has narrowed by $1,113 since 2009.