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 | Deerfield Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,535 | $71,865 | $78,145 |
| Median Personal Income | $55,535 | $71,865 | $78,145 |
| Average income growth | 4.1% | 4.1% | 4.1% |
The median household income in Deerfield Beach is about 23% lower than in Florida. Income has been growing slower in Deerfield Beach (4.1%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Deerfield Beach, Florida grew by 36.9% from 2009 to 2023, reaching $55,535 in 2023. That's an average of about 2.6% per year.
Economic Inequality in Deerfield Beach | Gender Pay Gap | Gini Coefficient
| Metric | Deerfield Beach | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.566 | 0.570 |
| Male Median Income | $50,994 | $58,426 | $67,746 |
| Female Median Income | $45,461 | $48,893 | $54,793 |
| Gender Pay Gap | 10.8% | 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 Deerfield Beach, it is 0.537, 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 12% more than women's income in Deerfield Beach, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Deerfield Beach, Florida has narrowed from about 14% to 11% in 2023.
Employment
| Metric | Deerfield Beach | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.9% | 4.8% | 5.2% |
| Working from Home | 11.3% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
The average commute time in Deerfield Beach is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Deerfield Beach, Florida has fallen from 10.9% to 5.9% in 2023.
Conclusion
Considering all these factors, Deerfield Beach, Florida has an overall wealth index grade of C, making it about on par with Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Deerfield Beach, Florida.
How Rich Is Deerfield Beach, Florida?
Deerfield Beach has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $55,535, about 23% lower than the Florida average of $71,865.
What is the current median household income in Deerfield Beach, Florida?
As of 2023, the median household income in Deerfield Beach, Florida is $55,535.
What was the median household income in Deerfield Beach in 2023?
In 2023, the median household income in Deerfield Beach, Florida was $55,535.
What was the median household income in Deerfield Beach in 2020?
In 2020, the median household income in Deerfield Beach, Florida was $47,027.
What is the Gini coefficient in Deerfield Beach, Florida?
The Gini coefficient in Deerfield Beach is 0.537. 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 Deerfield Beach, Florida?
Since 2009, the income gap between men and women in Deerfield Beach, Florida has narrowed from about 14% to 11% in 2023.