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 | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $117,557 | $71,865 | $78,145 |
| Median Personal Income | $117,557 | $71,865 | $78,145 |
| Average income growth | 5.4% | 5.4% | 5.4% |
The median household income in Cooper City is about 64% higher than in Florida. Income has been growing slower in Cooper City (5.4%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Cooper City, Florida grew by 44.4% from 2009 to 2023, reaching $117,557 in 2023. That's an average of about 3.2% per year.
Economic Inequality in Cooper City | Gender Pay Gap | Gini Coefficient
| Metric | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.571 | 0.566 | 0.570 |
| Male Median Income | $88,461 | $58,426 | $67,746 |
| Female Median Income | $67,137 | $48,893 | $54,793 |
| Gender Pay Gap | 24.1% | 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 Cooper City, it is 0.571, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 32% more than women's income in Cooper City, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cooper City, Florida has widened from about 23% to 24% in 2023.
Employment
| Metric | Cooper City | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.8% | 5.2% |
| Working from Home | 13.9% | 13.9% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
The average commute time in Cooper City is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cooper City, Florida has fallen from 7.6% to 4.1% in 2023.
Conclusion
Considering all these factors, Cooper City, Florida has an overall wealth index grade of B, making it notably better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cooper City, Florida.
How Rich Is Cooper City, Florida?
Cooper City 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 $117,557, about 64% higher than the Florida average of $71,865.
What is the current median household income in Cooper City, Florida?
As of 2023, the median household income in Cooper City, Florida is $117,557.
What was the median household income in Cooper City in 2023?
In 2023, the median household income in Cooper City, Florida was $117,557.
What was the median household income in Cooper City in 2020?
In 2020, the median household income in Cooper City, Florida was $105,620.
What is the Gini coefficient in Cooper City, Florida?
The Gini coefficient in Cooper City is 0.571. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Cooper City, Florida?
Since 2009, the income gap between men and women in Cooper City, Florida has widened from about 23% to 24% in 2023.