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 | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,227 | $71,865 | $78,145 |
| Median Personal Income | $49,396 | $53,537 | $61,726 |
| Average income growth | 5.4% | 5.7% | 5.1% |
| Six-Figure Earners | 6.9% | 10.9% | 13.2% |
The median household income in Bradenton is about 15% lower than in Florida. Income has been growing slower in Bradenton (5.4%/yr) than in Florida (5.7%/yr).
About 7% of adults in Bradenton 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 Bradenton, Florida grew by 42.5% from 2009 to 2023, reaching $61,227 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Bradenton | Gender Pay Gap | Gini Coefficient
| Metric | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.526 | 0.566 | 0.570 |
| Male Median Income | $51,902 | $58,426 | $67,746 |
| Female Median Income | $47,301 | $48,893 | $54,793 |
| Gender Pay Gap | 8.9% | 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 Bradenton, it is 0.526, lower than Florida's 0.566, 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 10% more than women's income in Bradenton, Florida. Over a 35-year career, a 10% wage gap accumulates to roughly $161,035 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bradenton, Florida has narrowed from about 24% to 9% in 2023. In dollar terms, the gap has narrowed by $5,021 since 2009.
Employment
| Metric | Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.3% | 4.8% | 5.2% |
| Working from Home | 9.6% | 13.9% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 1,465 people are unemployed in Bradenton, Florida.
The average commute time in Bradenton is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bradenton, Florida has fallen from 11.7% to 6.3% in 2023.
Conclusion
Considering all these factors, Bradenton, 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 Bradenton, Florida.
How Rich Is Bradenton, Florida?
Bradenton 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 $61,227, about 15% lower than the Florida average of $71,865.
What is the current median household income in Bradenton, Florida?
As of 2023, the median household income in Bradenton, Florida is $61,227.
What was the median household income in Bradenton in 2023?
In 2023, the median household income in Bradenton, Florida was $61,227.
What was the median household income in Bradenton in 2020?
In 2020, the median household income in Bradenton, Florida was $51,116.
What is the Gini coefficient in Bradenton, Florida?
The Gini coefficient in Bradenton is 0.526. 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 Bradenton, Florida?
Since 2009, the income gap between men and women in Bradenton, Florida has narrowed from about 24% to 9% in 2023. In dollar terms, the gap has narrowed by $5,021 since 2009.