Coral Gables, Florida Income Statistics
Coral Gables Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Coral Gables Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $133,839 | $74,580 | $80,455 |
| Median Personal Income | $105,539 | $52,322 | $60,758 |
| Average Yearly Income Growth | 4.7% | 5.4% | 4.8% |
| Six-Figure Earners | 29.8% | 11.6% | 13.9% |
| $200k+ Households | 36.6% | 11.0% | 13.2% |
The median household income in Coral Gables is about 79% higher than in Florida. Income has been growing slower in Coral Gables (4.7%/yr) than in Florida (5.4%/yr).
About 30% of adults in Coral Gables earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Coral Gables, Florida grew by 56.7% from 2009 to 2024, reaching $133,839 in 2024. That's an average of about 4.7% per year.
Coral Gables has been far above the U.S. median household income in every year from 2009 to 2024. Even at its closest, in 2019, its income was 58% higher. The gap has held fairly steady over the period.
Income Distribution in Coral Gables
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 11,506 households (60.1% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 17.6% of households in Coral Gables had an income under $35,000 and 46.2% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Coral Gables has a larger share of households earning $200,000 or more (36.6% vs 13.2%) and a smaller share earning $50,000 to $74,999 (9.0% vs 15.5%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 1,153 | 6.0% | 5.1% |
| $10,000 to $14,999 | 296 | 1.5% | 3.5% |
| $15,000 to $24,999 | 1,094 | 5.7% | 6.4% |
| $25,000 to $34,999 | 822 | 4.3% | 6.7% |
| $35,000 to $49,999 | 1,126 | 5.9% | 10.1% |
| $50,000 to $74,999 | 1,718 | 9.0% | 15.5% |
| $75,000 to $99,999 | 1,431 | 7.5% | 12.6% |
| $100,000 to $149,999 | 2,665 | 13.9% | 17.4% |
| $150,000 to $199,999 | 1,827 | 9.5% | 9.5% |
| $200,000 or more | 7,014 | 36.6% | 13.2% |
Shares are of all 19,147 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 12,709 residents (29.8% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 36.3% of residents who have any income.
In 2024, 18.0% of Coral Gables residents aged 15 and over reported no personal income, 24.7% had some income but less than $25,000, and 36.8% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Coral Gables has a larger share of residents earning $100,000 or more (29.8% vs 13.9%) and a smaller share earning $50,000 to $74,999 (8.5% vs 14.3%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 7,703 | 18.0% | 12.8% |
| $1 to $9,999 | 5,358 | 12.5% | 11.2% |
| $10,000 to $14,999 | 2,371 | 5.6% | 7.0% |
| $15,000 to $24,999 | 2,834 | 6.6% | 10.5% |
| $25,000 to $34,999 | 2,212 | 5.2% | 9.5% |
| $35,000 to $49,999 | 2,884 | 6.8% | 12.6% |
| $50,000 to $74,999 | 3,631 | 8.5% | 14.3% |
| $75,000 to $99,999 | 3,016 | 7.1% | 8.2% |
| $100,000 or more | 12,709 | 29.8% | 13.9% |
Shares are of the 42,718 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 18.0% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Coral Gables
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.551 | 0.552 |
| Male Median Income | $119,033 | $60,595 | $69,667 |
| Female Median Income | $94,437 | $50,762 | $56,850 |
| Gender Pay Gap | 20.7% | 16.2% | 18.4% |
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 Coral Gables, it is 0.577, higher than Florida's 0.551, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 26% more than women's income in Coral Gables, Florida. Over a 35-year career, a 26% wage gap accumulates to roughly $860,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Coral Gables, Florida has narrowed from about 46% to 21% in 2024. Over that period the gap was widest at 48% in 2010. In dollar terms, the gap has narrowed by $16,460 since 2009.
Employment
| Metric | Coral Gables | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.8% | 5.2% |
| Working from Home | 22.9% | 15.7% | 15.0% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 799 people are unemployed in Coral Gables, Florida.
The average commute time in Coral Gables is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Coral Gables, Florida has fallen from 7.0% to 3.2% in 2024. Over that period the rate peaked at 7.9% in 2013 and fell as low as 3.2% in 2019.
Coral Gables has stayed well below the U.S. unemployment rate in every year from 2011 to 2024 and has never risen above it. It came closest in 2022, at 0.9 points lower. The gap has held fairly steady over the period.
Coral Gables, FL Wealth Compared With Nearby Cities
How Coral Gables, FL compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Coral Gables, FL | 49,643 | $133,839 #1/2 | 4.7%/yr #2/2 | 3.2% #1/2 | 0.577 #2/2 |
| Coral Terrace, FL | 24,987 | $82,011 | 6.6%/yr | 3.6% | 0.538 |
Conclusion
Considering all these factors, Coral Gables, 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 Coral Gables, Florida.
How Rich Is Coral Gables, Florida?
Coral Gables 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 $133,839, about 79% higher than the Florida average of $74,580.
Are incomes growing in Coral Gables, Florida?
Between 2009 and 2024, the median household income in Coral Gables, Florida rose 57%, from $85,400 to $133,839. Over the same years, income here kept pace with Florida as a whole: +57% against +57%.
What was the median household income in Coral Gables in 2023?
In 2023, the median household income in Coral Gables, Florida was $128,002, up 8% from $118,827 in 2022. The Florida median that year was $71,864.
What was the median household income in Coral Gables in 2020?
In 2020, the median household income in Coral Gables, Florida was $104,604. By 2024 it had risen 28% to $133,839.
How many people earn six figures in Coral Gables, Florida?
Yes. 30% of adults in Coral Gables, Florida earn $100,000 or more a year (about 1 in 3), against 12% (about 1 in 9) in Florida. 37% of households have a combined income of $200,000 or more, compared with 11% in Florida.
How strong is the job market in Coral Gables, Florida?
Unemployment in Coral Gables, Florida is only 3.2%, well below the Florida rate of 4.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Coral Gables, Florida?
The Gini coefficient in Coral Gables is 0.577. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Coral Gables, Florida?
Since 2009, the income gap between men and women in Coral Gables, Florida has narrowed from about 46% to 21% in 2024. Over that period the gap was widest at 48% in 2010. In dollar terms, the gap has narrowed by $16,460 since 2009.
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