Chester, Virginia Income Statistics
Chester 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.
-
B
Chester Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Chester | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,931 | $93,527 | $80,455 |
| Median Personal Income | $60,562 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.8% | 4.3% | 4.8% |
| Six-Figure Earners | 13.6% | 18.3% | 13.9% |
| $200k+ Households | 9.5% | 17.7% | 13.2% |
The median household income in Chester is about the same as in Virginia. Income has been growing faster in Chester (4.8%/yr) than in Virginia (4.3%/yr).
About 14% of adults in Chester earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Chester, Virginia grew by 61.4% from 2009 to 2024, reaching $93,931 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in Chester
| Metric | Chester | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.506 | 0.544 | 0.552 |
| Male Median Income | $73,609 | $78,585 | $69,667 |
| Female Median Income | $53,670 | $62,626 | $56,850 |
| Gender Pay Gap | 27.1% | 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 Chester, it is 0.506, 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 37% more than women's income in Chester, Virginia. Over a 35-year career, a 37% wage gap accumulates to roughly $697,865 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chester, Virginia has widened from about 22% to 27% in 2024. Over that period the gap was narrowest at 15% in 2022. In dollar terms, the gap has widened by $8,861 since 2009.
Sharply against the trend: the pay gap in Chester widened by 5.3 points while Virginia's narrowed by 3.2 points.
Employment
| Metric | Chester | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 4.1% | 5.2% |
| Working from Home | 17.6% | 18.3% | 15.0% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 287 people are unemployed in Chester, Virginia.
The average commute time in Chester is 23 minutes, about the same as in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chester, Virginia has fallen from 8.0% to 2.4% in 2024.
Chester, VA Wealth Compared With Nearby Cities
How Chester, VA 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. |
|---|---|---|---|---|---|
| Chester, VA | 22,777 | $93,931 #1/2 | 4.8%/yr #2/2 | 2.4% #1/2 | 0.506 #1/2 |
| Meadowbrook, VA | 21,108 | $84,794 | 5.1%/yr | 4.9% | 0.512 |
Conclusion
Considering all these factors, Chester, Virginia has an overall wealth index grade of B, making it about on par with Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chester, Virginia.
How Rich Is Chester, Virginia?
Chester 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 $93,931, close to the Virginia average of $93,527.
How fast is household income rising in Chester, Virginia?
Between 2009 and 2024, the median household income in Chester, Virginia rose 61%, from $58,197 to $93,931. Over the same years, income here outpaced Virginia as a whole: +61% against +55%.
What was the median household income in Chester in 2023?
In 2023, the median household income in Chester, Virginia was $87,938, up 2% from $85,953 in 2022. The Virginia median that year was $91,420.
What was the median household income in Chester in 2020?
In 2020, the median household income in Chester, Virginia was $72,858. By 2024 it had risen 29% to $93,931.
Is it hard to find a job in Chester, Virginia?
Unemployment in Chester, Virginia is only 2.4%, well below the Virginia rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Chester, Virginia?
The Gini coefficient in Chester is 0.506. 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 Chester, Virginia?
Since 2009, the income gap between men and women in Chester, Virginia has widened from about 22% to 27% in 2024. Over that period the gap was narrowest at 15% in 2022. In dollar terms, the gap has widened by $8,861 since 2009.
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