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 | Baker County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,506 | $71,865 | $78,145 |
| Median Personal Income | $51,018 | $53,537 | $61,726 |
| Average income growth | 4.3% | 5.7% | 5.1% |
| Six-Figure Earners | 7.9% | 10.9% | 13.2% |
The median household income in Baker County is about the same as in Florida. Income has been growing slower in Baker County (4.3%/yr) than in Florida (5.7%/yr).
About 8% of adults in Baker County 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 Baker County, Florida grew by 53.9% from 2009 to 2023, reaching $71,506 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Baker County | Gender Pay Gap | Gini Coefficient
| Metric | Baker County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.566 | 0.570 |
| Male Median Income | $55,426 | $58,426 | $67,746 |
| Female Median Income | $47,539 | $48,893 | $54,793 |
| Gender Pay Gap | 14.2% | 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 Baker County, it is 0.583, higher than Florida's 0.566, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 17% more than women's income in Baker County, Florida. Over a 35-year career, a 17% wage gap accumulates to roughly $276,045 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Baker County, Florida has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $2,715 since 2009.
Employment
| Metric | Baker County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.8% | 5.2% |
| Working from Home | 8.4% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 522 people are unemployed in Baker County, Florida.
The average commute time in Baker County is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Baker County, Florida has fallen from 10.9% to 4.3% in 2023.
Conclusion
Considering all these factors, Baker County, 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 Baker County, Florida.
How Rich Is Baker County, Florida?
Baker County 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 $71,506, close to the Florida average of $71,865.
What is the current median household income in Baker County, Florida?
As of 2023, the median household income in Baker County, Florida is $71,506.
What was the median household income in Baker County in 2023?
In 2023, the median household income in Baker County, Florida was $71,506.
What was the median household income in Baker County in 2020?
In 2020, the median household income in Baker County, Florida was $63,495.
What is the Gini coefficient in Baker County, Florida?
The Gini coefficient in Baker County is 0.583. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Baker County, Florida?
Since 2009, the income gap between men and women in Baker County, Florida has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $2,715 since 2009.