Wealth Index
Wealthier than 74% of counties in Florida
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 | Brevard County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,079 | $71,865 | $78,145 |
| Median Personal Income | $57,439 | $53,537 | $61,726 |
| Average income growth | 6.2% | 5.7% | 5.1% |
| Six-Figure Earners | 12.3% | 10.9% | 13.2% |
The median household income in Brevard County is about 6% higher than in Florida. Income has been growing faster in Brevard County (6.2%/yr) than in Florida (5.7%/yr).
About 12% of adults in Brevard County earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Brevard County, Florida grew by 54.2% from 2009 to 2023, reaching $76,079 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Brevard County | Gender Pay Gap | Gini Coefficient
| Metric | Brevard County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.558 | 0.566 | 0.570 |
| Male Median Income | $66,698 | $58,426 | $67,746 |
| Female Median Income | $49,838 | $48,893 | $54,793 |
| Gender Pay Gap | 25.3% | 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 Brevard County, it is 0.558, 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 34% more than women's income in Brevard County, Florida. Over a 35-year career, a 34% wage gap accumulates to roughly $590,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Brevard County, Florida has narrowed from about 31% to 25% in 2023. In dollar terms, the gap has widened by $1,424 since 2009.
Employment
| Metric | Brevard County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.8% | 5.2% |
| Working from Home | 13.2% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 14,185 people are unemployed in Brevard County, Florida.
The average commute time in Brevard County is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Brevard County, Florida has fallen from 10.5% to 4.8% in 2023.
Conclusion
Considering all these factors, Brevard County, 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 Brevard County, Florida.
How Rich Is Brevard County, Florida?
Brevard County 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 $76,079, about 6% higher than the Florida average of $71,865.
What is the current median household income in Brevard County, Florida?
As of 2023, the median household income in Brevard County, Florida is $76,079.
What was the median household income in Brevard County in 2023?
In 2023, the median household income in Brevard County, Florida was $76,079.
What was the median household income in Brevard County in 2020?
In 2020, the median household income in Brevard County, Florida was $59,285.
What is the Gini coefficient in Brevard County, Florida?
The Gini coefficient in Brevard County is 0.558. 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 Brevard County, Florida?
Since 2009, the income gap between men and women in Brevard County, Florida has narrowed from about 31% to 25% in 2023. In dollar terms, the gap has widened by $1,424 since 2009.