Wealth Index
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 | Auburndale | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,870 | $71,865 | $78,145 |
| Median Personal Income | $49,298 | $53,537 | $61,726 |
| Average income growth | 6.3% | 5.7% | 5.1% |
| Six-Figure Earners | 7.7% | 10.9% | 13.2% |
The median household income in Auburndale is about 7% lower than in Florida. Income has been growing faster in Auburndale (6.3%/yr) than in Florida (5.7%/yr).
About 8% of adults in Auburndale earn six figures ($100,000 or more) a year, lower than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Auburndale, Florida grew by 47.8% from 2009 to 2023, reaching $66,870 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Auburndale | Gender Pay Gap | Gini Coefficient
| Metric | Auburndale | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.566 | 0.570 |
| Male Median Income | $53,530 | $58,426 | $67,746 |
| Female Median Income | $44,895 | $48,893 | $54,793 |
| Gender Pay Gap | 16.1% | 16.3% | 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 Auburndale, it is 0.570, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 19% more than women's income in Auburndale, Florida. Over a 35-year career, a 19% wage gap accumulates to roughly $302,225 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Auburndale, Florida has narrowed from about 20% to 16% in 2023. In dollar terms, the gap has widened by $809 since 2009.
Employment
| Metric | Auburndale | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.8% | 5.2% |
| Working from Home | 8.1% | 13.9% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 415 people are unemployed in Auburndale, Florida.
The average commute time in Auburndale is 25 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Auburndale, Florida has fallen from 11.5% to 4.1% in 2023.
Conclusion
Considering all these factors, Auburndale, Florida has an overall wealth index grade of D, making it about on par with Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Auburndale, Florida.
How Wealthy Is Auburndale, Florida?
Auburndale has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $66,870, about 7% lower than the Florida average of $71,865.
What is the current median household income in Auburndale, Florida?
As of 2023, the median household income in Auburndale, Florida is $66,870.
What was the median household income in Auburndale in 2023?
In 2023, the median household income in Auburndale, Florida was $66,870.
What was the median household income in Auburndale in 2020?
In 2020, the median household income in Auburndale, Florida was $53,834.
What is the Gini coefficient in Auburndale, Florida?
The Gini coefficient in Auburndale is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Auburndale, Florida?
Since 2009, the income gap between men and women in Auburndale, Florida has narrowed from about 20% to 16% in 2023. In dollar terms, the gap has widened by $809 since 2009.