Wealth Index
Among the top 5 wealthiest counties in Virginia
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 | Alexandria city | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $114,402 | $91,409 | $78,145 |
| Median Personal Income | $94,856 | $68,517 | $61,726 |
| Average income growth | 3.5% | 4.6% | 5.1% |
| Six-Figure Earners | 33.7% | 17.6% | 13.2% |
The median household income in Alexandria city is about 25% higher than in Virginia. Income has been growing slower in Alexandria city (3.5%/yr) than in Virginia (4.6%/yr).
About 34% of adults in Alexandria city earn six figures ($100,000 or more) a year, higher than the Virginia average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Alexandria city, Virginia grew by 43.1% from 2009 to 2023, reaching $114,402 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Alexandria city | Gender Pay Gap | Gini Coefficient
| Metric | Alexandria city | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.498 | 0.565 | 0.570 |
| Male Median Income | $98,563 | $76,014 | $67,746 |
| Female Median Income | $91,374 | $60,748 | $54,793 |
| Gender Pay Gap | 7.3% | 20.1% | 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 Alexandria city, it is 0.498, lower than Virginia's 0.565, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 8% more than women's income in Alexandria city, Virginia. Over a 35-year career, a 8% wage gap accumulates to roughly $251,615 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Alexandria city, Virginia has narrowed from about 11% to 7% in 2023. In dollar terms, the gap has widened by $67 since 2009.
Employment
| Metric | Alexandria city | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.2% | 5.2% |
| Working from Home | 25.2% | 16.2% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 3,315 people are unemployed in Alexandria city, Virginia.
The average commute time in Alexandria city is 28 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Alexandria city, Virginia has fallen from 4.4% to 3.2% in 2023.
Conclusion
Considering all these factors, Alexandria city, Virginia has an overall wealth index grade of A+, making it notably better than Virginia, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Alexandria city, Virginia.
How Wealthy Is Alexandria city, Virginia?
Alexandria city has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $114,402, about 25% higher than the Virginia average of $91,409.
What is the current median household income in Alexandria city, Virginia?
As of 2023, the median household income in Alexandria city, Virginia is $114,402.
What was the median household income in Alexandria city in 2023?
In 2023, the median household income in Alexandria city, Virginia was $114,402.
What was the median household income in Alexandria city in 2020?
In 2020, the median household income in Alexandria city, Virginia was $103,483.
What is the Gini coefficient in Alexandria city, Virginia?
The Gini coefficient in Alexandria city is 0.498. 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 Alexandria city, Virginia?
Since 2009, the income gap between men and women in Alexandria city, Virginia has narrowed from about 11% to 7% in 2023. In dollar terms, the gap has widened by $67 since 2009.