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 | DeLand | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,053 | $71,865 | $78,145 |
| Median Personal Income | $52,843 | $53,537 | $61,726 |
| Average income growth | 8.4% | 5.7% | 5.1% |
| Six-Figure Earners | 7.5% | 10.9% | 13.2% |
The median household income in DeLand is about 5% lower than in Florida. Income has been growing faster in DeLand (8.4%/yr) than in Florida (5.7%/yr).
About 8% of adults in DeLand 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 DeLand, Florida grew by 82.5% from 2009 to 2023, reaching $68,053 in 2023. That's an average of about 8.4% per year.
Economic Inequality in DeLand | Gender Pay Gap | Gini Coefficient
| Metric | DeLand | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.601 | 0.566 | 0.570 |
| Male Median Income | $57,406 | $58,426 | $67,746 |
| Female Median Income | $50,348 | $48,893 | $54,793 |
| Gender Pay Gap | 12.3% | 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 DeLand, it is 0.601, higher than Florida's 0.566, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 14% more than women's income in DeLand, Florida. Over a 35-year career, a 14% wage gap accumulates to roughly $247,030 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in DeLand, Florida has narrowed from about 21% to 12% in 2023. In dollar terms, the gap has narrowed by $457 since 2009.
Employment
| Metric | DeLand | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.8% | 5.2% |
| Working from Home | 16.9% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 365 people are unemployed in DeLand, Florida.
The average commute time in DeLand is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in DeLand, Florida has fallen from 11.6% to 2.9% in 2023.
Conclusion
Considering all these factors, DeLand, 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 DeLand, Florida.
How Rich Is DeLand, Florida?
DeLand 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 $68,053, about 5% lower than the Florida average of $71,865.
What is the current median household income in DeLand, Florida?
As of 2023, the median household income in DeLand, Florida is $68,053.
What was the median household income in DeLand in 2023?
In 2023, the median household income in DeLand, Florida was $68,053.
What was the median household income in DeLand in 2020?
In 2020, the median household income in DeLand, Florida was $49,512.
What is the Gini coefficient in DeLand, Florida?
The Gini coefficient in DeLand is 0.601. 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 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in DeLand, Florida?
Since 2009, the income gap between men and women in DeLand, Florida has narrowed from about 21% to 12% in 2023. In dollar terms, the gap has narrowed by $457 since 2009.