Wealth Index
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.
Income Statistics Overview
| Metric | Prince George County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $90,558 | $91,409 | $78,145 |
| Median Personal Income | $54,836 | $68,517 | $61,726 |
| Average income growth | 5.0% | 4.6% | 5.1% |
| Six-Figure Earners | 8.3% | 17.6% | 13.2% |
The median household income in Prince George County is about 1% lower than in Virginia. Income has been growing faster in Prince George County (5.0%/yr) than in Virginia (4.6%/yr).
About 8% of adults in Prince George County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Prince George County, Virginia grew by 37.4% from 2009 to 2023, reaching $90,558 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Prince George County | Gender Pay Gap | Gini Coefficient
| Metric | Prince George County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.565 | 0.565 | 0.570 |
| Male Median Income | $58,034 | $76,014 | $67,746 |
| Female Median Income | $50,678 | $60,748 | $54,793 |
| Gender Pay Gap | 12.7% | 20.1% | 19.1% |
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 Prince George County, it is 0.565, about the same as Virginia's 0.565, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 15% more than women's income in Prince George County, Virginia. Over a 35-year career, a 15% wage gap accumulates to roughly $257,460 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Prince George County, Virginia has narrowed from about 18% to 13% in 2023. In dollar terms, the gap has narrowed by $840 since 2009.
Employment
| Metric | Prince George County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.2% | 5.2% |
| Working from Home | 10.5% | 16.2% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 964 people are unemployed in Prince George County, Virginia.
The average commute time in Prince George County is 21 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Prince George County, Virginia has fallen from 7.0% to 4.4% in 2023.
Conclusion
Considering all these factors, Prince George County, Virginia has an overall wealth index grade of C, making it somewhat worse than Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Prince George County, Virginia.
How Rich Is Prince George County, Virginia?
Prince George County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $90,558, about 1% lower than the Virginia average of $91,409.
What is the current median household income in Prince George County, Virginia?
As of 2023, the median household income in Prince George County, Virginia is $90,558.
What was the median household income in Prince George County in 2023?
In 2023, the median household income in Prince George County, Virginia was $90,558.
What was the median household income in Prince George County in 2020?
In 2020, the median household income in Prince George County, Virginia was $75,145.
What is the Gini coefficient in Prince George County, Virginia?
The Gini coefficient in Prince George County is 0.565. 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 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Prince George County, Virginia?
Since 2009, the income gap between men and women in Prince George County, Virginia has narrowed from about 18% to 13% in 2023. In dollar terms, the gap has narrowed by $840 since 2009.