Wealth Index
Wealthier than 79% of counties in Washington
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 | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,871 | $95,177 | $78,145 |
| Median Personal Income | $70,228 | $74,356 | $61,726 |
| Average income growth | 6.6% | 6.0% | 5.1% |
| Six-Figure Earners | 16.0% | 18.1% | 13.2% |
The median household income in Pierce County is about 2% higher than in Washington. Income has been growing faster in Pierce County (6.6%/yr) than in Washington (6.0%/yr).
About 16% of adults in Pierce County earn six figures ($100,000 or more) a year, lower than the Washington average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Pierce County, Washington grew by 70.6% from 2009 to 2023, reaching $96,871 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Pierce County | Gender Pay Gap | Gini Coefficient
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.554 | 0.570 |
| Male Median Income | $76,819 | $82,830 | $67,746 |
| Female Median Income | $62,779 | $65,517 | $54,793 |
| Gender Pay Gap | 18.3% | 20.9% | 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 Pierce County, it is 0.540, lower than Washington's 0.554, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Pierce County, Washington. Over a 35-year career, a 22% wage gap accumulates to roughly $491,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pierce County, Washington has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $2,608 since 2009.
Employment
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.9% | 5.2% |
| Working from Home | 12.3% | 17.7% | 13.4% |
| Commute time (minutes) | 27 | 22 | 22 |
Approximately 23,326 people are unemployed in Pierce County, Washington.
The average commute time in Pierce County is 27 minutes, longer than the 22 minutes in Washington.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pierce County, Washington has fallen from 9.1% to 4.8% in 2023.
Conclusion
Considering all these factors, Pierce County, Washington has an overall wealth index grade of B, making it about on par with Washington, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Pierce County, Washington.
How Rich Is Pierce County, Washington?
Pierce 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 $96,871, about 2% higher than the Washington average of $95,177.
What is the current median household income in Pierce County, Washington?
As of 2023, the median household income in Pierce County, Washington is $96,871.
What was the median household income in Pierce County in 2023?
In 2023, the median household income in Pierce County, Washington was $96,871.
What was the median household income in Pierce County in 2020?
In 2020, the median household income in Pierce County, Washington was $76,592.
What is the Gini coefficient in Pierce County, Washington?
The Gini coefficient in Pierce County is 0.540. 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 Pierce County, Washington?
Since 2009, the income gap between men and women in Pierce County, Washington has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $2,608 since 2009.