Woonsocket, Rhode Island Income Statistics
Woonsocket Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Woonsocket Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,013 | $88,093 | $80,455 |
| Median Personal Income | $51,588 | $66,452 | $60,758 |
| Average Yearly Income Growth | 6.4% | 5.2% | 4.8% |
| Six-Figure Earners | 6.8% | 14.6% | 13.9% |
| $200k+ Households | 5.5% | 13.8% | 13.2% |
The median household income in Woonsocket is about 31% lower than in Rhode Island. Income has been growing faster in Woonsocket (6.4%/yr) than in Rhode Island (5.2%/yr).
About 7% of adults in Woonsocket earn six figures ($100,000 or more) a year, lower than the Rhode Island average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Woonsocket, Rhode Island grew by 49.3% from 2009 to 2024, reaching $61,013 in 2024. That's an average of about 6.4% per year.
Income Inequality and the Gender Pay Gap in Woonsocket
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.529 | 0.552 |
| Male Median Income | $62,308 | $75,201 | $69,667 |
| Female Median Income | $47,712 | $63,031 | $56,850 |
| Gender Pay Gap | 23.4% | 16.2% | 18.4% |
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 Woonsocket, it is 0.514, lower than Rhode Island's 0.529, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 31% more than women's income in Woonsocket, Rhode Island. Over a 35-year career, a 31% wage gap accumulates to roughly $510,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Woonsocket, Rhode Island has widened from about 18% to 23% in 2024. Over that period the gap was narrowest at 14% in 2010. In dollar terms, the gap has widened by $6,771 since 2009.
Sharply against the trend: the pay gap in Woonsocket widened by 5.1 points while Rhode Island's narrowed by 6.0 points.
Employment
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.8% | 5.8% | 5.2% |
| Working from Home | 6.4% | 13.0% | 15.0% |
| Commute time (minutes) | 25 | 21 | 22 |
Approximately 1,461 people are unemployed in Woonsocket, Rhode Island.
The average commute time in Woonsocket is 25 minutes, longer than the 21 minutes in Rhode Island.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Woonsocket, Rhode Island has fallen from 8.4% to 6.8% in 2024. Over that period the rate peaked at 9.2% in 2021.
Woonsocket, RI Wealth Compared With Nearby Cities
How Woonsocket, RI compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Woonsocket, RI | 43,521 | $61,013 #2/2 | 6.4%/yr #1/2 | 6.8% #2/2 | 0.514 #1/2 |
| Franklin Town, MA | 33,154 | $143,537 | 3.8%/yr | 5.2% | 0.517 |
Conclusion
Considering all these factors, Woonsocket, Rhode Island has an overall wealth index grade of D, making it somewhat worse than Rhode Island, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Woonsocket, Rhode Island.
How Rich Is Woonsocket, Rhode Island?
Woonsocket has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,013, about 31% lower than the Rhode Island average of $88,093.
How has median household income changed in Woonsocket, Rhode Island?
Between 2009 and 2024, the median household income in Woonsocket, Rhode Island rose 49%, from $40,873 to $61,013. Over the same years, income here lagged behind Rhode Island as a whole: +49% against +57%.
What was the median household income in Woonsocket in 2023?
In 2023, the median household income in Woonsocket, Rhode Island was $58,887, up 9% from $54,222 in 2022. The Rhode Island median that year was $86,472.
What was the median household income in Woonsocket in 2020?
In 2020, the median household income in Woonsocket, Rhode Island was $44,449. By 2024 it had risen 37% to $61,013.
What is the Gini coefficient in Woonsocket, Rhode Island?
The Gini coefficient in Woonsocket is 0.514. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Woonsocket, Rhode Island?
Since 2009, the income gap between men and women in Woonsocket, Rhode Island has widened from about 18% to 23% in 2024. Over that period the gap was narrowest at 14% in 2010. In dollar terms, the gap has widened by $6,771 since 2009.
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