Introduction
Santa Clara County vs. California
Santa Clara County:
2022 PCI = $144,399
2022 Percent of State = 187.44%
California:
2022 PCI = $77,036
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Page 2 of 13
Santa Clara County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Santa Clara County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Santa Clara County's annual per capita personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Santa Clara County over time.
When measured in current dollars, Santa Clara County's per capita personal income increased 2,734.76%, from $5,094 in 1970 to $144,399 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 382.85%, from $25,771 in 1970 to $124,436 in 2022.
Page 3 of 13
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 traces Santa Clara County's and California's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Santa Clara County's real per capita personal income rose from $25,877 in 1969 to $124,436 in 2022, for a net gain of $98,558, or 380.87%. In comparison, California's real per capita personal income advanced from $24,761 in 1969 to $66,385 in 2022, for a net gain of $41,625, or 168.11%.
Page 4 of 13
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Santa Clara County's real per capita personal income growth in a broader context by offering direct comparisons across time with California, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Santa Clara County's overall real per capita personal income growth was 380.87% over 1969-2022 outpaced California's increase of 168.11%, and outpaced the United States' increase of 171.04%.
Page 5 of 13
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 displays the trends for per capita personal income relative to the national average by tracing Santa Clara County and California per capita personal income as a percent of the national average over 1969-2022.
In 1969, Santa Clara County's per capita personal income amounted to 124.32% of the national average; in 2022, it approximated 220.56%. Similarly, in 1969, California's per capita personal income totaled 118.95% of the national average; in 2022, it consisted of 117.67%.
Page 6 of 13
Santa Clara County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Santa Clara County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Santa Clara County's real per capita personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Santa Clara County's real per capita personal income grew at an annual rate of 3.12% over 1970-2022. The county recorded its highest growth in 2000 (20.90%) and posted its lowest growth in 2001 (-6.79%). In 2022, Santa Clara County's real per capita personal income declined by -6.17%
Page 7 of 13
Santa Clara County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Santa Clara County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again depicts the annual percent change in Santa Clara County's real per capita personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Santa Clara County's annual real per capita personal income growth rate averaged 2.69%. It averaged 2.40% during the 1980s, 3.61% during the 1990s, 0.85% during the 2000s, 5.48% during the 2010s, 4.94% thus far this decade (2020-2022).
Page 8 of 13
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Santa Clara County noted in the previous graph with the corresponding decade averages for California and the nation. As the chart reveals, Santa Clara County's average annual real per capita personal income growth recorded above California's average throughout the 1970s (2.69% vs. 2.16%), registered above California's average in the 1980s (2.40% vs. 1.61%), led California's average in the 1990s (3.61% vs. 1.71%), fell below California's average throughout the 2000s (0.85% vs. 1.04%), outperformed California's average during the 2010s (5.48% vs. 2.85%), and led California's average over the 3 year period of the current decade, 2020-2022 (4.94% vs. 2.49%).
Finally, relative to nationwide real per capita personal income growth trends, Santa Clara County recorded above the nation in the 1970s (2.69% vs. 2.37%), outperformed the nation over the 1980s (2.40% vs. 2.19%), outgained the nation throughout the 1990s (3.61% vs. 2.01%), fell under the nation in the 2000s (0.85% vs. 1.10%), recorded above the nation over the 2010s (5.48% vs. 1.97%), and recorded above the nation over 2020-2022 (4.94% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
3.12
2.69
2.40
3.61
0.85
5.48
4.94
-6.17
 
1.91
2.16
1.61
1.71
1.04
2.85
2.49
-6.01
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   
Page 9 of 13

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Santa Clara County:
Per Capita Personal Income, 1969-2022
 
1969
 
4,886
0.189
25,877
100.0
N
104.51
124.32
1970
 
5,094
0.198
25,771
99.6
-0.41
102.59
121.34
1971
 
5,337
0.206
25,904
100.1
0.52
102.46
119.39
1972
 
5,723
0.213
26,859
103.8
3.69
101.25
117.84
1973
 
6,248
0.225
27,823
107.5
3.59
102.03
116.50
1974
 
7,004
0.248
28,250
109.2
1.53
104.06
120.02
1975
 
7,595
0.269
28,276
109.3
0.09
103.76
120.10
1976
 
8,378
0.283
29,570
114.3
4.58
105.06
121.86
1977
 
9,189
0.302
30,451
117.7
2.98
105.84
122.26
1978
 
10,312
0.323
31,949
123.5
4.92
106.74
123.41
1979
 
11,836
0.351
33,678
130.1
5.41
110.01
128.20
1980
 
13,339
0.389
34,265
132.4
1.74
111.62
130.98
1981
 
14,875
0.424
35,070
135.5
2.35
113.12
131.74
1982
 
16,052
0.448
35,853
138.5
2.23
116.44
133.88
1983
 
17,349
0.467
37,170
143.6
3.67
118.94
136.60
1984
 
19,057
0.484
39,343
152.0
5.85
120.03
137.21
1985
 
19,917
0.501
39,732
153.5
0.99
118.64
135.06
1986
 
20,522
0.512
40,067
154.8
0.84
116.73
132.55
1987
 
21,462
0.528
40,645
157.1
1.44
116.52
132.25
1988
 
23,165
0.549
42,222
163.2
3.88
118.25
132.82
1989
 
24,429
0.573
42,663
164.9
1.04
118.92
130.93
1990
 
25,638
0.598
42,891
165.7
0.53
119.34
130.68
1991
 
26,459
0.618
42,831
165.5
-0.14
120.94
131.96
1992
 
28,077
0.634
44,272
171.1
3.36
123.88
133.21
1993
 
28,273
0.650
43,496
168.1
-1.75
122.98
130.21
1994
 
29,199
0.664
44,004
170.0
1.17
123.96
129.48
1995
 
31,782
0.678
46,908
181.3
6.60
129.22
134.80
1996
 
33,950
0.692
49,059
189.6
4.58
131.26
137.31
1997
 
36,519
0.704
51,868
200.4
5.73
135.36
140.86
1998
 
38,995
0.710
54,949
212.3
5.94
134.93
141.84
1999
 
43,556
0.720
60,494
233.8
10.09
142.67
152.33
2000
 
53,991
0.738
73,137
282.6
20.90
162.75
176.73
2001
 
51,332
0.753
68,168
263.4
-6.79
151.35
162.71
2002
 
48,570
0.763
63,664
246.0
-6.61
142.66
152.73
2003
 
49,057
0.779
62,979
243.4
-1.08
139.40
150.21
2004
 
50,509
0.798
63,273
244.5
0.47
136.62
147.76
2005
 
52,884
0.821
64,393
248.8
1.77
136.52
148.26
2006
 
57,611
0.844
68,227
263.7
5.95
138.98
152.24
2007
 
61,760
0.866
71,311
275.6
4.52
143.40
156.01
2008
 
60,928
0.892
68,328
264.0
-4.18
140.42
149.14
2009
 
56,816
0.889
63,895
246.9
-6.49
136.38
144.54
2010
 
60,863
0.905
67,242
259.8
5.24
141.09
150.07
2011
 
65,684
0.928
70,777
273.5
5.26
144.33
154.01
2012
 
71,690
0.945
75,835
293.1
7.15
150.00
162.06
2013
 
71,593
0.958
74,747
288.9
-1.44
148.92
161.24
2014
 
77,059
0.971
79,343
306.6
6.15
152.23
166.48
2015
 
83,773
0.973
86,098
332.7
8.51
155.66
174.31
2016
 
90,105
0.983
91,678
354.3
6.48
161.30
183.99
2017
 
97,652
1.000
97,652
377.4
6.52
167.75
191.46
2018
 
106,567
1.020
104,429
403.6
6.94
174.75
199.90
2019
 
112,459
1.035
108,642
419.8
4.03
175.24
202.46
2020
 
124,637
1.046
119,116
460.3
9.64
177.90
210.70
2021
 
144,552
1.090
132,616
512.5
11.33
187.75
224.36
2022
 
144,399
1.160
124,436
480.9
-6.17
187.44
220.56
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   
Page 10 of 13

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
California:
Per Capita Personal Income, 1969-2022
 
1969
 
4,676
0.189
24,761
100.0
N
118.95
1970
 
4,965
0.198
25,119
101.4
1.45
118.28
1971
 
5,209
0.206
25,282
102.1
0.65
116.52
1972
 
5,652
0.213
26,527
107.1
4.92
116.38
1973
 
6,123
0.225
27,269
110.1
2.80
114.17
1974
 
6,731
0.248
27,148
109.6
-0.44
115.34
1975
 
7,320
0.269
27,251
110.1
0.38
115.75
1976
 
7,975
0.283
28,147
113.7
3.29
116.00
1977
 
8,681
0.302
28,769
116.2
2.21
115.51
1978
 
9,661
0.323
29,931
120.9
4.04
115.61
1979
 
10,758
0.351
30,613
123.6
2.28
116.53
1980
 
11,950
0.389
30,697
124.0
0.28
117.34
1981
 
13,150
0.424
31,003
125.2
1.00
116.46
1982
 
13,785
0.448
30,790
124.4
-0.69
114.97
1983
 
14,587
0.467
31,252
126.2
1.50
114.85
1984
 
15,877
0.484
32,777
132.4
4.88
114.31
1985
 
16,788
0.501
33,490
135.3
2.18
113.84
1986
 
17,581
0.512
34,325
138.6
2.49
113.56
1987
 
18,418
0.528
34,882
140.9
1.62
113.50
1988
 
19,590
0.549
35,706
144.2
2.36
112.32
1989
 
20,542
0.573
35,874
144.9
0.47
110.10
1990
 
21,483
0.598
35,940
145.1
0.18
109.50
1991
 
21,877
0.618
35,415
143.0
-1.46
109.11
1992
 
22,664
0.634
35,737
144.3
0.91
107.53
1993
 
22,990
0.650
35,369
142.8
-1.03
105.88
1994
 
23,556
0.664
35,500
143.4
0.37
104.45
1995
 
24,596
0.678
36,302
146.6
2.26
104.32
1996
 
25,864
0.692
37,375
150.9
2.96
104.61
1997
 
26,979
0.704
38,319
154.8
2.53
104.06
1998
 
28,901
0.710
40,724
164.5
6.28
105.12
1999
 
30,529
0.720
42,400
171.2
4.12
106.77
2000
 
33,175
0.738
44,939
181.5
5.99
108.59
2001
 
33,915
0.753
45,038
181.9
0.22
107.50
2002
 
34,047
0.763
44,628
180.2
-0.91
107.06
2003
 
35,191
0.779
45,178
182.5
1.23
107.75
2004
 
36,969
0.798
46,312
187.0
2.51
108.15
2005
 
38,737
0.821
47,168
190.5
1.85
108.60
2006
 
41,454
0.844
49,093
198.3
4.08
109.54
2007
 
43,070
0.866
49,731
200.8
1.30
108.80
2008
 
43,391
0.892
48,661
196.5
-2.15
106.21
2009
 
41,660
0.889
46,851
189.2
-3.72
105.99
2010
 
43,138
0.905
47,658
192.5
1.72
106.36
2011
 
45,509
0.928
49,037
198.0
2.89
106.70
2012
 
47,794
0.945
50,558
204.2
3.10
108.04
2013
 
48,076
0.958
50,193
202.7
-0.72
108.28
2014
 
50,619
0.971
52,119
210.5
3.84
109.36
2015
 
53,817
0.973
55,311
223.4
6.12
111.98
2016
 
55,863
0.983
56,839
229.6
2.76
114.07
2017
 
58,214
1.000
58,214
235.1
2.42
114.14
2018
 
60,984
1.020
59,761
241.4
2.66
114.40
2019
 
64,174
1.035
61,996
250.4
3.74
115.53
2020
 
70,061
1.046
66,957
270.4
8.00
118.44
2021
 
76,991
1.090
70,634
285.3
5.49
119.50
2022
 
77,036
1.160
66,385
268.1
-6.01
117.67
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   
Page 11 of 13

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
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