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 | Coconut Creek | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,156 | $71,865 | $78,145 |
| Median Personal Income | $74,156 | $71,865 | $78,145 |
| Average income growth | 4.6% | 4.6% | 4.6% |
The median household income in Coconut Creek is about 3% higher than in Florida. Income has been growing slower in Coconut Creek (4.6%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Coconut Creek, Florida grew by 56.3% from 2009 to 2023, reaching $74,156 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Coconut Creek | Gender Pay Gap | Gini Coefficient
| Metric | Coconut Creek | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.566 | 0.570 |
| Male Median Income | $67,785 | $58,426 | $67,746 |
| Female Median Income | $51,691 | $48,893 | $54,793 |
| Gender Pay Gap | 23.7% | 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 Coconut Creek, it is 0.534, 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 31% more than women's income in Coconut Creek, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Coconut Creek, Florida has widened from about 11% to 24% in 2023.
Employment
| Metric | Coconut Creek | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 4.8% | 5.2% |
| Working from Home | 14.2% | 13.9% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
The average commute time in Coconut Creek is 28 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Coconut Creek, Florida has fallen from 7.6% to 5.1% in 2023.
Conclusion
Considering all these factors, Coconut Creek, 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 Coconut Creek, Florida.
How Rich Is Coconut Creek, Florida?
Coconut Creek 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 $74,156, about 3% higher than the Florida average of $71,865.
What is the current median household income in Coconut Creek, Florida?
As of 2023, the median household income in Coconut Creek, Florida is $74,156.
What was the median household income in Coconut Creek in 2023?
In 2023, the median household income in Coconut Creek, Florida was $74,156.
What was the median household income in Coconut Creek in 2020?
In 2020, the median household income in Coconut Creek, Florida was $64,191.
What is the Gini coefficient in Coconut Creek, Florida?
The Gini coefficient in Coconut Creek is 0.534. 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 Coconut Creek, Florida?
Since 2009, the income gap between men and women in Coconut Creek, Florida has widened from about 11% to 24% in 2023.