Wealth Index
Wealthier than 95% of counties in Virginia
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 | Stafford County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $134,295 | $91,409 | $78,145 |
| Median Personal Income | $84,757 | $68,517 | $61,726 |
| Average income growth | 4.6% | 4.6% | 5.1% |
| Six-Figure Earners | 23.5% | 17.6% | 13.2% |
The median household income in Stafford County is about 47% higher than in Virginia. Income has been growing faster in Stafford County (4.6%/yr) than in Virginia (4.6%/yr).
About 24% of adults in Stafford County earn six figures ($100,000 or more) a year, higher than the Virginia average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Stafford County, Virginia grew by 48.0% from 2009 to 2023, reaching $134,295 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Stafford County | Gender Pay Gap | Gini Coefficient
| Metric | Stafford County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.565 | 0.570 |
| Male Median Income | $96,344 | $76,014 | $67,746 |
| Female Median Income | $69,409 | $60,748 | $54,793 |
| Gender Pay Gap | 28.0% | 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 Stafford County, it is 0.562, about the same as Virginia's 0.565, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 39% more than women's income in Stafford County, Virginia. Over a 35-year career, a 39% wage gap accumulates to roughly $942,725 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Stafford County, Virginia has narrowed from about 36% to 28% in 2023. In dollar terms, the gap has widened by $1,148 since 2009.
Employment
| Metric | Stafford County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.2% | 5.2% |
| Working from Home | 18.1% | 16.2% | 13.4% |
| Commute time (minutes) | 32 | 23 | 22 |
Approximately 3,100 people are unemployed in Stafford County, Virginia.
The average commute time in Stafford County is 32 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Stafford County, Virginia has fallen from 5.8% to 3.7% in 2023.
Conclusion
Considering all these factors, Stafford County, Virginia has an overall wealth index grade of A, making it somewhat better than Virginia, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Stafford County, Virginia.
How Rich Is Stafford County, Virginia?
Stafford County 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 residents are much better off than the U.S. average. The median household income is $134,295, about 47% higher than the Virginia average of $91,409.
What is the current median household income in Stafford County, Virginia?
As of 2023, the median household income in Stafford County, Virginia is $134,295.
What was the median household income in Stafford County in 2023?
In 2023, the median household income in Stafford County, Virginia was $134,295.
What was the median household income in Stafford County in 2020?
In 2020, the median household income in Stafford County, Virginia was $113,328.
What is the Gini coefficient in Stafford County, Virginia?
The Gini coefficient in Stafford County is 0.562. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Stafford County, Virginia?
Since 2009, the income gap between men and women in Stafford County, Virginia has narrowed from about 36% to 28% in 2023. In dollar terms, the gap has widened by $1,148 since 2009.