Wealth Index
Wealthier than 85% 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 | Clay County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $87,297 | $71,865 | $78,145 |
| Median Personal Income | $59,496 | $53,537 | $61,726 |
| Average income growth | 5.8% | 5.7% | 5.1% |
| Six-Figure Earners | 11.3% | 10.9% | 13.2% |
The median household income in Clay County is about 21% higher than in Florida. Income has been growing faster in Clay County (5.8%/yr) than in Florida (5.7%/yr).
About 11% of adults in Clay County earn six figures ($100,000 or more) a year, about the same as the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Clay County, Florida grew by 44.5% from 2009 to 2023, reaching $87,297 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Clay County | Gender Pay Gap | Gini Coefficient
| Metric | Clay County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.548 | 0.566 | 0.570 |
| Male Median Income | $68,225 | $58,426 | $67,746 |
| Female Median Income | $49,532 | $48,893 | $54,793 |
| Gender Pay Gap | 27.4% | 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 Clay County, it is 0.548, 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 38% more than women's income in Clay County, Florida. Over a 35-year career, a 38% wage gap accumulates to roughly $654,255 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Clay County, Florida has narrowed from about 28% to 27% in 2023. In dollar terms, the gap has widened by $4,210 since 2009.
Employment
| Metric | Clay County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.8% | 5.2% |
| Working from Home | 14.5% | 13.9% | 13.4% |
| Commute time (minutes) | 31 | 23 | 22 |
Approximately 4,181 people are unemployed in Clay County, Florida.
The average commute time in Clay County is 31 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Clay County, Florida has fallen from 9.4% to 3.7% in 2023.
Conclusion
Considering all these factors, Clay County, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Clay County, Florida.
How Rich Is Clay County, Florida?
Clay County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $87,297, about 21% higher than the Florida average of $71,865.
What is the current median household income in Clay County, Florida?
As of 2023, the median household income in Clay County, Florida is $87,297.
What was the median household income in Clay County in 2023?
In 2023, the median household income in Clay County, Florida was $87,297.
What was the median household income in Clay County in 2020?
In 2020, the median household income in Clay County, Florida was $69,481.
What is the Gini coefficient in Clay County, Florida?
The Gini coefficient in Clay County is 0.548. 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 Clay County, Florida?
Since 2009, the income gap between men and women in Clay County, Florida has narrowed from about 28% to 27% in 2023. In dollar terms, the gap has widened by $4,210 since 2009.