Wealth Index
Among the top 3 wealthiest 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 | Snohomish County | Washington Avg | US Average |
|---|---|---|---|
| Median Household Income | $108,625 | $95,177 | $78,145 |
| Median Personal Income | $78,951 | $74,356 | $61,726 |
| Average income growth | 5.7% | 6.0% | 5.1% |
| Six-Figure Earners | 20.0% | 18.1% | 13.2% |
The median household income in Snohomish County is about 14% higher than in Washington. Income has been growing slower in Snohomish County (5.7%/yr) than in Washington (6.0%/yr).
About 20% of adults in Snohomish County earn six figures ($100,000 or more) a year, higher than the Washington average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Snohomish County, Washington grew by 67.6% from 2009 to 2023, reaching $108,625 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Snohomish County | Gender Pay Gap | Gini Coefficient
| Metric | Snohomish County | Washington Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.542 | 0.554 | 0.570 |
| Male Median Income | $88,460 | $82,830 | $67,746 |
| Female Median Income | $67,560 | $65,517 | $54,793 |
| Gender Pay Gap | 23.6% | 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 Snohomish County, it is 0.542, 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 31% more than women's income in Snohomish County, Washington. Over a 35-year career, a 31% wage gap accumulates to roughly $731,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Snohomish County, Washington has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $6,477 since 2009.
Employment
| Metric | Snohomish County | Washington Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.9% | 5.2% |
| Working from Home | 18.0% | 17.7% | 13.4% |
| Commute time (minutes) | 28 | 22 | 22 |
Approximately 19,443 people are unemployed in Snohomish County, Washington.
The average commute time in Snohomish County is 28 minutes, longer than the 22 minutes in Washington.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Snohomish County, Washington has fallen from 8.1% to 4.3% in 2023.
Conclusion
Considering all these factors, Snohomish County, Washington has an overall wealth index grade of B, making it somewhat better than Washington, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Snohomish County, Washington.
How Rich Is Snohomish County, Washington?
Snohomish 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 $108,625, about 14% higher than the Washington average of $95,177.
What is the current median household income in Snohomish County, Washington?
As of 2023, the median household income in Snohomish County, Washington is $108,625.
What was the median household income in Snohomish County in 2023?
In 2023, the median household income in Snohomish County, Washington was $108,625.
What was the median household income in Snohomish County in 2020?
In 2020, the median household income in Snohomish County, Washington was $89,722.
What is the Gini coefficient in Snohomish County, Washington?
The Gini coefficient in Snohomish County is 0.542. 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 Snohomish County, Washington?
Since 2009, the income gap between men and women in Snohomish County, Washington has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $6,477 since 2009.