Fredericksburg, Virginia Income Statistics
Fredericksburg 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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B
Fredericksburg Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Fredericksburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,248 | $93,527 | $80,455 |
| Median Personal Income | $67,860 | $68,139 | $60,758 |
| Average Yearly Income Growth | 5.9% | 4.3% | 4.8% |
| Six-Figure Earners | 17.5% | 18.3% | 13.9% |
| $200k+ Households | 17.1% | 17.7% | 13.2% |
The median household income in Fredericksburg is about 9% lower than in Virginia. Income has been growing faster in Fredericksburg (5.9%/yr) than in Virginia (4.3%/yr).
About 17% of adults in Fredericksburg 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 Fredericksburg, Virginia grew by 96.8% from 2009 to 2024, reaching $85,248 in 2024. That's an average of about 5.9% per year.
Income Inequality and the Gender Pay Gap in Fredericksburg
| Metric | Fredericksburg | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.544 | 0.552 |
| Male Median Income | $80,943 | $78,585 | $69,667 |
| Female Median Income | $63,161 | $62,626 | $56,850 |
| Gender Pay Gap | 22.0% | 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 Fredericksburg, it is 0.553, higher than Virginia's 0.544, so income is less evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 28% more than women's income in Fredericksburg, Virginia. Over a 35-year career, a 28% wage gap accumulates to roughly $622,370 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fredericksburg, Virginia has widened from about 18% to 22% in 2024. Over that period the gap was widest at 32% in 2020, and was narrowest at 16% in 2010. In dollar terms, the gap has widened by $10,038 since 2009.
Sharply against the trend: the pay gap in Fredericksburg widened by 4.0 points while Virginia's narrowed by 3.2 points.
Employment
| Metric | Fredericksburg | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 4.1% | 5.2% |
| Working from Home | 16.9% | 18.3% | 15.0% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 813 people are unemployed in Fredericksburg, Virginia.
The average commute time in Fredericksburg is 22 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fredericksburg, Virginia has fallen from 9.6% to 5.0% in 2024. Over that period the rate peaked at 10.9% in 2013 and fell as low as 4.6% in 2023.
Conclusion
Considering all these factors, Fredericksburg, 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 Fredericksburg, Virginia.
How Rich Is Fredericksburg, Virginia?
Fredericksburg 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 $85,248, about 9% lower than the Virginia average of $93,527.
How fast is household income rising in Fredericksburg, Virginia?
Between 2009 and 2024, the median household income in Fredericksburg, Virginia rose 97%, from $43,312 to $85,248. Over the same years, income here outpaced Virginia as a whole: +97% against +55%.
What was the median household income in Fredericksburg in 2023?
In 2023, the median household income in Fredericksburg, Virginia was $85,714, up 1% from $84,607 in 2022. The Virginia median that year was $91,420.
What was the median household income in Fredericksburg in 2020?
In 2020, the median household income in Fredericksburg, Virginia was $70,820. By 2024 it had risen 20% to $85,248.
What is the Gini coefficient in Fredericksburg, Virginia?
The Gini coefficient in Fredericksburg is 0.553. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Fredericksburg, Virginia?
Since 2009, the income gap between men and women in Fredericksburg, Virginia has widened from about 18% to 22% in 2024. Over that period the gap was widest at 32% in 2020, and was narrowest at 16% in 2010. In dollar terms, the gap has widened by $10,038 since 2009.
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