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 | Charlotte County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,048 | $71,865 | $78,145 |
| Median Personal Income | $55,036 | $53,537 | $61,726 |
| Average income growth | 5.7% | 5.7% | 5.1% |
| Six-Figure Earners | 8.9% | 10.9% | 13.2% |
The median household income in Charlotte County is about 8% lower than in Florida. Income has been growing faster in Charlotte County (5.7%/yr) than in Florida (5.7%/yr).
About 9% of adults in Charlotte 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 Charlotte County, Florida grew by 48.0% from 2009 to 2023, reaching $66,048 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Charlotte County | Gender Pay Gap | Gini Coefficient
| Metric | Charlotte County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.566 | 0.570 |
| Male Median Income | $61,177 | $58,426 | $67,746 |
| Female Median Income | $48,456 | $48,893 | $54,793 |
| Gender Pay Gap | 20.8% | 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 Charlotte County, it is 0.535, 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 26% more than women's income in Charlotte County, Florida. Over a 35-year career, a 26% wage gap accumulates to roughly $445,235 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Charlotte County, Florida has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $4,678 since 2009.
Employment
| Metric | Charlotte County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 4.8% | 5.2% |
| Working from Home | 15.3% | 13.9% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 4,137 people are unemployed in Charlotte County, Florida.
The average commute time in Charlotte County is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Charlotte County, Florida has fallen from 13.0% to 5.5% in 2023.
Conclusion
Considering all these factors, Charlotte 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 Charlotte County, Florida.
How Rich Is Charlotte County, Florida?
Charlotte 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 $66,048, about 8% lower than the Florida average of $71,865.
What is the current median household income in Charlotte County, Florida?
As of 2023, the median household income in Charlotte County, Florida is $66,048.
What was the median household income in Charlotte County in 2023?
In 2023, the median household income in Charlotte County, Florida was $66,048.
What was the median household income in Charlotte County in 2020?
In 2020, the median household income in Charlotte County, Florida was $52,820.
What is the Gini coefficient in Charlotte County, Florida?
The Gini coefficient in Charlotte County is 0.535. 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 Charlotte County, Florida?
Since 2009, the income gap between men and women in Charlotte County, Florida has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $4,678 since 2009.