Suffolk, Virginia Income Statistics
Suffolk 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.
-
B
Suffolk Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Suffolk | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $92,092 | $93,527 | $80,455 |
| Median Personal Income | $63,951 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.3% | 4.8% |
| Six-Figure Earners | 15.9% | 18.3% | 13.9% |
| $200k+ Households | 12.9% | 17.7% | 13.2% |
The median household income in Suffolk is about 2% lower than in Virginia. Income has been growing faster in Suffolk (4.4%/yr) than in Virginia (4.3%/yr).
About 16% of adults in Suffolk 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 Suffolk, Virginia grew by 44.2% from 2009 to 2024, reaching $92,092 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Suffolk
| Metric | Suffolk | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.544 | 0.552 |
| Male Median Income | $74,321 | $78,585 | $69,667 |
| Female Median Income | $58,266 | $62,626 | $56,850 |
| Gender Pay Gap | 21.6% | 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 Suffolk, it is 0.529, 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 28% more than women's income in Suffolk, Virginia. Over a 35-year career, a 28% wage gap accumulates to roughly $561,925 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Suffolk, Virginia has narrowed from about 31% to 22% in 2024. Over that period the gap was widest at 32% in 2020. In dollar terms, the gap has narrowed by $597 since 2009.
Employment
| Metric | Suffolk | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.1% | 5.2% |
| Working from Home | 10.7% | 18.3% | 15.0% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 2,375 people are unemployed in Suffolk, Virginia.
The average commute time in Suffolk is 30 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Suffolk, Virginia has fallen from 7.0% to 4.6% in 2024. Over that period the rate peaked at 8.6% in 2014.
Conclusion
Considering all these factors, Suffolk, 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 Suffolk, Virginia.
How Rich Is Suffolk, Virginia?
Suffolk 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 $92,092, about 2% lower than the Virginia average of $93,527.
How has median household income changed in Suffolk, Virginia?
Between 2009 and 2024, the median household income in Suffolk, Virginia rose 44%, from $63,867 to $92,092. Over the same years, income here lagged behind Virginia as a whole: +44% against +55%.
What was the median household income in Suffolk in 2023?
In 2023, the median household income in Suffolk, Virginia was $88,839, up 1% from $87,757 in 2022. The Virginia median that year was $91,420.
What was the median household income in Suffolk in 2020?
In 2020, the median household income in Suffolk, Virginia was $79,737. By 2024 it had risen 15% to $92,092.
What is the Gini coefficient in Suffolk, Virginia?
The Gini coefficient in Suffolk is 0.529. 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 Suffolk, Virginia?
Since 2009, the income gap between men and women in Suffolk, Virginia has narrowed from about 31% to 22% in 2024. Over that period the gap was widest at 32% in 2020. In dollar terms, the gap has narrowed by $597 since 2009.
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