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 | Brandon | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,765 | $71,865 | $78,145 |
| Median Personal Income | $54,514 | $53,537 | $61,726 |
| Average income growth | 4.1% | 5.7% | 5.1% |
| Six-Figure Earners | 9.8% | 10.9% | 13.2% |
The median household income in Brandon is about 7% higher than in Florida. Income has been growing slower in Brandon (4.1%/yr) than in Florida (5.7%/yr).
About 10% of adults in Brandon 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 Brandon, Florida grew by 36.9% from 2009 to 2023, reaching $76,765 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Brandon | Gender Pay Gap | Gini Coefficient
| Metric | Brandon | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.566 | 0.570 |
| Male Median Income | $57,378 | $58,426 | $67,746 |
| Female Median Income | $51,869 | $48,893 | $54,793 |
| Gender Pay Gap | 9.6% | 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 Brandon, it is 0.538, 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 11% more than women's income in Brandon, Florida. Over a 35-year career, a 11% wage gap accumulates to roughly $192,815 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Brandon, Florida has narrowed from about 18% to 10% in 2023. In dollar terms, the gap has narrowed by $2,613 since 2009.
Employment
| Metric | Brandon | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.8% | 5.2% |
| Working from Home | 16.4% | 13.9% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 2,644 people are unemployed in Brandon, Florida.
The average commute time in Brandon is 25 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Brandon, Florida has fallen from 6.5% to 4.2% in 2023.
Conclusion
Considering all these factors, Brandon, Florida has an overall wealth index grade of C, making it somewhat better than Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Brandon, Florida.
How Rich Is Brandon, Florida?
Brandon has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $76,765, about 7% higher than the Florida average of $71,865.
What is the current median household income in Brandon, Florida?
As of 2023, the median household income in Brandon, Florida is $76,765.
What was the median household income in Brandon in 2023?
In 2023, the median household income in Brandon, Florida was $76,765.
What was the median household income in Brandon in 2020?
In 2020, the median household income in Brandon, Florida was $64,029.
What is the Gini coefficient in Brandon, Florida?
The Gini coefficient in Brandon is 0.538. 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 Brandon, Florida?
Since 2009, the income gap between men and women in Brandon, Florida has narrowed from about 18% to 10% in 2023. In dollar terms, the gap has narrowed by $2,613 since 2009.