Henrico County, Virginia Income Statistics
Henrico County Wealth Score
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.
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B
Henrico County Around averageWealthier than 82% of counties in Virginia
Source: Map AI Methodology
Income Statistics Overview
| Metric | Henrico County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,133 | $93,527 | $80,455 |
| Median Personal Income | $64,906 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.3% | 4.8% |
| Six-Figure Earners | 17.5% | 18.3% | 13.9% |
| $200k+ Households | 15.7% | 17.7% | 13.2% |
The median household income in Henrico County is about 5% lower than in Virginia. Income has been growing slower in Henrico County (4.2%/yr) than in Virginia (4.3%/yr).
About 17% of adults in Henrico County 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 Henrico County, Virginia grew by 49.0% from 2009 to 2024, reaching $89,133 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Henrico County
| Metric | Henrico County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.524 | 0.544 | 0.552 |
| Male Median Income | $74,769 | $78,585 | $69,667 |
| Female Median Income | $61,638 | $62,626 | $56,850 |
| Gender Pay Gap | 17.6% | 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 Henrico County, it is 0.524, 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 21% more than women's income in Henrico County, Virginia. Over a 35-year career, a 21% wage gap accumulates to roughly $459,585 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Henrico County, Virginia has narrowed from about 22% to 18% in 2024. Over that period the gap was widest at 23% in 2012. In dollar terms, the gap has widened by $2,035 since 2009.
Employment
| Metric | Henrico County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 4.1% | 5.2% |
| Working from Home | 22.3% | 18.3% | 15.0% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 7,172 people are unemployed in Henrico County, Virginia.
The average commute time in Henrico County is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Henrico County, Virginia has fallen from 7.0% to 3.9% in 2024. Over that period the rate peaked at 7.9% in 2013 and fell as low as 3.9% in 2023.
Henrico County, VA Wealth Compared With Nearby Counties
How Henrico County, VA compares with the 2 counties 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. |
|---|---|---|---|---|---|
| Henrico County, VA | 335,485 | $89,133 #3/3 | 4.2%/yr #3/3 | 3.9% #2/3 | 0.524 #3/3 |
| Hanover County, VA | 112,800 | $113,167 | 4.2%/yr | 2.7% | 0.514 |
| Chesterfield County, VA | 377,744 | $102,256 | 4.2%/yr | 4.6% | 0.522 |
Conclusion
Considering all these factors, Henrico County, Virginia has an overall wealth index grade of B, making it somewhat better than Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Henrico County, Virginia.
How Rich Is Henrico County, Virginia?
Henrico County 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 $89,133, about 5% lower than the Virginia average of $93,527.
How has median household income changed in Henrico County, Virginia?
Between 2009 and 2024, the median household income in Henrico County, Virginia rose 49%, from $59,806 to $89,133. Over the same years, income here lagged behind Virginia as a whole: +49% against +55%.
What was the median household income in Henrico County in 2023?
In 2023, the median household income in Henrico County, Virginia was $86,697, up 4% from $83,489 in 2022. The Virginia median that year was $91,420.
What was the median household income in Henrico County in 2020?
In 2020, the median household income in Henrico County, Virginia was $72,811. By 2024 it had risen 22% to $89,133.
What is the Gini coefficient in Henrico County, Virginia?
The Gini coefficient in Henrico County is 0.524. 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 Henrico County, Virginia?
Since 2009, the income gap between men and women in Henrico County, Virginia has narrowed from about 22% to 18% in 2024. Over that period the gap was widest at 23% in 2012. In dollar terms, the gap has widened by $2,035 since 2009.
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