Petersburg, Virginia Income Statistics
Petersburg 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.
-
D
Petersburg Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Petersburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,908 | $93,527 | $80,455 |
| Median Personal Income | $46,846 | $68,139 | $60,758 |
| Average Yearly Income Growth | 5.8% | 4.3% | 4.8% |
| Six-Figure Earners | 6.5% | 18.3% | 13.9% |
| $200k+ Households | 2.7% | 17.7% | 13.2% |
The median household income in Petersburg is about 46% lower than in Virginia. Income has been growing faster in Petersburg (5.8%/yr) than in Virginia (4.3%/yr).
About 7% of adults in Petersburg 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 Petersburg, Virginia grew by 41.5% from 2009 to 2024, reaching $50,908 in 2024. That's an average of about 5.8% per year.
Income Inequality and the Gender Pay Gap in Petersburg
| Metric | Petersburg | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.544 | 0.552 |
| Male Median Income | $57,792 | $78,585 | $69,667 |
| Female Median Income | $46,288 | $62,626 | $56,850 |
| Gender Pay Gap | 19.9% | 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 Petersburg, it is 0.533, 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 25% more than women's income in Petersburg, Virginia. Over a 35-year career, a 25% wage gap accumulates to roughly $402,640 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Petersburg, Virginia has widened from about 14% to 20% in 2024. Over that period the gap was widest at 25% in 2023, and was narrowest at 12% in 2011. In dollar terms, the gap has widened by $6,599 since 2009.
Sharply against the trend: the pay gap in Petersburg widened by 5.4 points while Virginia's narrowed by 3.2 points.
Employment
| Metric | Petersburg | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.8% | 4.1% | 5.2% |
| Working from Home | 10.0% | 18.3% | 15.0% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 1,615 people are unemployed in Petersburg, Virginia.
The average commute time in Petersburg is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Petersburg, Virginia has fallen from 13.7% to 9.8% in 2024. Over that period the rate peaked at 16.2% in 2013.
Conclusion
Considering all these factors, Petersburg, Virginia has an overall wealth index grade of D, making it worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Petersburg, Virginia.
How Rich Is Petersburg, Virginia?
Petersburg has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $50,908, about 46% lower than the Virginia average of $93,527.
How has median household income changed in Petersburg, Virginia?
Between 2009 and 2024, the median household income in Petersburg, Virginia rose 42%, from $35,971 to $50,908. Over the same years, income here lagged behind Virginia as a whole: +42% against +55%.
What was the median household income in Petersburg in 2023?
In 2023, the median household income in Petersburg, Virginia was $51,128, up 9% from $46,757 in 2022. The Virginia median that year was $91,420.
What was the median household income in Petersburg in 2020?
In 2020, the median household income in Petersburg, Virginia was $43,167. By 2024 it had risen 18% to $50,908.
Is unemployment high in Petersburg, Virginia?
Unemployment in Petersburg, Virginia is 9.8%, well above the Virginia rate of 4.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Petersburg, Virginia?
The Gini coefficient in Petersburg is 0.533. 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 Petersburg, Virginia?
Since 2009, the income gap between men and women in Petersburg, Virginia has widened from about 14% to 20% in 2024. Over that period the gap was widest at 25% in 2023, and was narrowest at 12% in 2011. In dollar terms, the gap has widened by $6,599 since 2009.
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