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 | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,427 | $71,865 | $78,145 |
| Median Personal Income | $44,489 | $53,537 | $61,726 |
| Average income growth | 7.7% | 5.7% | 5.1% |
| Six-Figure Earners | 5.1% | 10.9% | 13.2% |
The median household income in Daytona Beach is about 30% lower than in Florida. Income has been growing faster in Daytona Beach (7.7%/yr) than in Florida (5.7%/yr).
About 5% of adults in Daytona Beach 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 Daytona Beach, Florida grew by 63.8% from 2009 to 2023, reaching $50,427 in 2023. That's an average of about 7.7% per year.
Economic Inequality in Daytona Beach | Gender Pay Gap | Gini Coefficient
| Metric | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.566 | 0.570 |
| Male Median Income | $45,481 | $58,426 | $67,746 |
| Female Median Income | $43,410 | $48,893 | $54,793 |
| Gender Pay Gap | 4.6% | 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 Daytona Beach, it is 0.553, 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 5% more than women's income in Daytona Beach, Florida. Over a 35-year career, a 5% wage gap accumulates to roughly $72,485 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Daytona Beach, Florida has narrowed from about 6% to 5% in 2023. In dollar terms, the gap has widened by $25 since 2009.
Employment
| Metric | Daytona Beach | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 4.8% | 5.2% |
| Working from Home | 9.0% | 13.9% | 13.4% |
| Commute time (minutes) | 17 | 23 | 22 |
Approximately 1,657 people are unemployed in Daytona Beach, Florida.
The average commute time in Daytona Beach is 17 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Daytona Beach, Florida has fallen from 12.9% to 5.0% in 2023.
Conclusion
Considering all these factors, Daytona Beach, Florida has an overall wealth index grade of D, making it somewhat worse than Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Daytona Beach, Florida.
How Rich Is Daytona Beach, Florida?
Daytona Beach 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 $50,427, about 30% lower than the Florida average of $71,865.
What is the current median household income in Daytona Beach, Florida?
As of 2023, the median household income in Daytona Beach, Florida is $50,427.
What was the median household income in Daytona Beach in 2023?
In 2023, the median household income in Daytona Beach, Florida was $50,427.
What was the median household income in Daytona Beach in 2020?
In 2020, the median household income in Daytona Beach, Florida was $38,909.
What is the Gini coefficient in Daytona Beach, Florida?
The Gini coefficient in Daytona Beach is 0.553. 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 Daytona Beach, Florida?
Since 2009, the income gap between men and women in Daytona Beach, Florida has narrowed from about 6% to 5% in 2023. In dollar terms, the gap has widened by $25 since 2009.