Fair Oaks, Virginia Income Statistics
Fair Oaks 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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A+
Fair Oaks Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Fair Oaks | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $124,434 | $93,527 | $80,455 |
| Median Personal Income | $96,657 | $68,139 | $60,758 |
| Average Yearly Income Growth | 2.1% | 4.3% | 4.8% |
| Six-Figure Earners | 29.5% | 18.3% | 13.9% |
| $200k+ Households | 22.7% | 17.7% | 13.2% |
The median household income in Fair Oaks is about 33% higher than in Virginia. Income has been growing slower in Fair Oaks (2.1%/yr) than in Virginia (4.3%/yr).
About 30% of adults in Fair Oaks 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 Fair Oaks, Virginia grew by 20.7% from 2009 to 2024, reaching $124,434 in 2024. That's an average of about 2.1% per year.
Income Inequality and the Gender Pay Gap in Fair Oaks
| Metric | Fair Oaks | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.501 | 0.544 | 0.552 |
| Male Median Income | $104,252 | $78,585 | $69,667 |
| Female Median Income | $92,857 | $62,626 | $56,850 |
| Gender Pay Gap | 10.9% | 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 Fair Oaks, it is 0.501, 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 12% more than women's income in Fair Oaks, Virginia. Over a 35-year career, a 12% wage gap accumulates to roughly $398,825 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fair Oaks, Virginia has narrowed from about 28% to 11% in 2024. Over that period the gap was widest at 32% in 2017. In dollar terms, the gap has narrowed by $14,450 since 2009.
Employment
| Metric | Fair Oaks | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 4.1% | 5.2% |
| Working from Home | 28.6% | 18.3% | 15.0% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 1,282 people are unemployed in Fair Oaks, Virginia.
The average commute time in Fair Oaks is 26 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fair Oaks, Virginia has risen from 3.9% to 5.8% in 2024. Over that period the rate peaked at 5.8% in 2022 and fell as low as 2.4% in 2017.
Conclusion
Considering all these factors, Fair Oaks, Virginia has an overall wealth index grade of A+, making it somewhat better than Virginia, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fair Oaks, Virginia.
How Rich Is Fair Oaks, Virginia?
Fair Oaks 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 $124,434, about 33% higher than the Virginia average of $93,527.
How has median household income changed in Fair Oaks, Virginia?
Between 2009 and 2024, the median household income in Fair Oaks, Virginia rose 21%, from $103,090 to $124,434. Over the same years, income here lagged behind Virginia as a whole: +21% against +55%.
What was the median household income in Fair Oaks in 2023?
In 2023, the median household income in Fair Oaks, Virginia was $120,821, about the same as in 2022. The Virginia median that year was $91,420.
What was the median household income in Fair Oaks in 2020?
In 2020, the median household income in Fair Oaks, Virginia was $113,222. By 2024 it had risen 10% to $124,434.
Do many residents of Fair Oaks, Virginia earn over $100,000?
Yes. 30% of adults in Fair Oaks, Virginia earn $100,000 or more a year (about 1 in 3), against 18% (about 1 in 5) in Virginia. 23% of households have a combined income of $200,000 or more, compared with 18% in Virginia.
How strong is the job market in Fair Oaks, Virginia?
Unemployment in Fair Oaks, Virginia is 5.8%, well above the Virginia rate of 4.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Fair Oaks, Virginia?
The Gini coefficient in Fair Oaks is 0.501. 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 Fair Oaks, Virginia?
Since 2009, the income gap between men and women in Fair Oaks, Virginia has narrowed from about 28% to 11% in 2024. Over that period the gap was widest at 32% in 2017. In dollar terms, the gap has narrowed by $14,450 since 2009.
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