Cherry Hill, Virginia Income Statistics
Cherry Hill 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.
-
A
Cherry Hill Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Cherry Hill | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $124,670 | $93,527 | $80,455 |
| Median Personal Income | $73,474 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.0% | 4.3% | 4.8% |
| Six-Figure Earners | 20.8% | 18.3% | 13.9% |
| $200k+ Households | 23.7% | 17.7% | 13.2% |
The median household income in Cherry Hill is about 33% higher than in Virginia. Income has been growing slower in Cherry Hill (4.0%/yr) than in Virginia (4.3%/yr).
About 21% of adults in Cherry Hill earn six figures ($100,000 or more) a year, higher than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Cherry Hill, Virginia grew by 50.6% from 2009 to 2024, reaching $124,670 in 2024. That's an average of about 4.0% per year.
Income Inequality and the Gender Pay Gap in Cherry Hill
| Metric | Cherry Hill | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.544 | 0.552 |
| Male Median Income | $83,415 | $78,585 | $69,667 |
| Female Median Income | $69,377 | $62,626 | $56,850 |
| Gender Pay Gap | 16.8% | 20.3% | 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 Cherry Hill, it is 0.531, lower than Virginia's 0.544, 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 20% more than women's income in Cherry Hill, Virginia. Over a 35-year career, a 20% wage gap accumulates to roughly $491,330 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cherry Hill, Virginia has narrowed from about 24% to 17% in 2024. Over that period the gap was widest at 26% in 2020, and was narrowest at 2% in 2013. In dollar terms, the gap has narrowed by $1,297 since 2009.
Employment
| Metric | Cherry Hill | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 4.1% | 5.2% |
| Working from Home | 18.7% | 18.3% | 15.0% |
| Commute time (minutes) | 42 | 23 | 22 |
Approximately 1,040 people are unemployed in Cherry Hill, Virginia.
The average commute time in Cherry Hill is 42 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cherry Hill, Virginia has risen from 5.4% to 6.7% in 2024. Over that period the rate peaked at 7.8% in 2013 and fell as low as 3.9% in 2019.
Conclusion
Considering all these factors, Cherry Hill, Virginia has an overall wealth index grade of A, making it somewhat better than Virginia, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cherry Hill, Virginia.
How Rich Is Cherry Hill, Virginia?
Cherry Hill 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 residents are much better off than the U.S. average. The median household income is $124,670, about 33% higher than the Virginia average of $93,527.
Are incomes growing in Cherry Hill, Virginia?
Between 2009 and 2024, the median household income in Cherry Hill, Virginia rose 51%, from $82,797 to $124,670. Over the same years, income here lagged behind Virginia as a whole: +51% against +55%.
What was the median household income in Cherry Hill in 2023?
In 2023, the median household income in Cherry Hill, Virginia was $123,446, up 6% from $116,297 in 2022. The Virginia median that year was $91,420.
What was the median household income in Cherry Hill in 2020?
In 2020, the median household income in Cherry Hill, Virginia was $94,398. By 2024 it had risen 32% to $124,670.
Is it hard to find a job in Cherry Hill, Virginia?
Unemployment in Cherry Hill, Virginia is 6.7%, well above the Virginia rate of 4.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Cherry Hill, Virginia?
The Gini coefficient in Cherry Hill is 0.531. 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 Cherry Hill, Virginia?
Since 2009, the income gap between men and women in Cherry Hill, Virginia has narrowed from about 24% to 17% in 2024. Over that period the gap was widest at 26% in 2020, and was narrowest at 2% in 2013. In dollar terms, the gap has narrowed by $1,297 since 2009.
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