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 | Doral | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $88,007 | $71,865 | $78,145 |
| Median Personal Income | $88,007 | $71,865 | $78,145 |
| Average income growth | 2.7% | 2.7% | 2.7% |
The median household income in Doral is about 22% higher than in Florida. Income has been growing slower in Doral (2.7%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Doral, Florida grew by 32.1% from 2009 to 2023, reaching $88,007 in 2023. That's an average of about 2.3% per year.
Economic Inequality in Doral | Gender Pay Gap | Gini Coefficient
| Metric | Doral | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.617 | 0.566 | 0.570 |
| Male Median Income | $57,404 | $58,426 | $67,746 |
| Female Median Income | $46,884 | $48,893 | $54,793 |
| Gender Pay Gap | 18.3% | 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 Doral, it is 0.617, 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 22% more than women's income in Doral, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Doral, Florida has narrowed from about 22% to 18% in 2023.
Employment
| Metric | Doral | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 4.8% | 5.2% |
| Working from Home | 17.5% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
The average commute time in Doral is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Doral, Florida has fallen from 5.3% to 3.1% in 2023.
Conclusion
Considering all these factors, Doral, Florida has an overall wealth index grade of C, making it somewhat better than Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Doral, Florida.
How Rich Is Doral, Florida?
Doral 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 $88,007, about 22% higher than the Florida average of $71,865.
What is the current median household income in Doral, Florida?
As of 2023, the median household income in Doral, Florida is $88,007.
What was the median household income in Doral in 2023?
In 2023, the median household income in Doral, Florida was $88,007.
What was the median household income in Doral in 2020?
In 2020, the median household income in Doral, Florida was $74,480.
What is the Gini coefficient in Doral, Florida?
The Gini coefficient in Doral is 0.617. 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 Doral, Florida?
Since 2009, the income gap between men and women in Doral, Florida has narrowed from about 22% to 18% in 2023.