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 | Delray Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,808 | $71,865 | $78,145 |
| Median Personal Income | $78,808 | $71,865 | $78,145 |
| Average income growth | 6.1% | 6.1% | 6.1% |
The median household income in Delray Beach is about 10% higher than in Florida. Income has been growing faster in Delray Beach (6.1%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Delray Beach, Florida grew by 65.8% from 2009 to 2023, reaching $78,808 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Delray Beach | Gender Pay Gap | Gini Coefficient
| Metric | Delray Beach | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.566 | 0.570 |
| Male Median Income | $61,855 | $58,426 | $67,746 |
| Female Median Income | $48,957 | $48,893 | $54,793 |
| Gender Pay Gap | 20.9% | 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 Delray Beach, it is 0.554, 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 26% more than women's income in Delray Beach, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Delray Beach, Florida has widened from about 9% to 21% in 2023.
Employment
| Metric | Delray Beach | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 4.8% | 5.2% |
| Working from Home | 16.4% | 13.9% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
The average commute time in Delray Beach is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Delray Beach, Florida has fallen from 11.8% to 5.7% in 2023.
Conclusion
Considering all these factors, Delray Beach, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Delray Beach, Florida.
How Rich Is Delray Beach, Florida?
Delray Beach 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 $78,808, about 10% higher than the Florida average of $71,865.
What is the current median household income in Delray Beach, Florida?
As of 2023, the median household income in Delray Beach, Florida is $78,808.
What was the median household income in Delray Beach in 2023?
In 2023, the median household income in Delray Beach, Florida was $78,808.
What was the median household income in Delray Beach in 2020?
In 2020, the median household income in Delray Beach, Florida was $63,103.
What is the Gini coefficient in Delray Beach, Florida?
The Gini coefficient in Delray Beach is 0.554. 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 Delray Beach, Florida?
Since 2009, the income gap between men and women in Delray Beach, Florida has widened from about 9% to 21% in 2023.