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 | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,389 | $71,865 | $78,145 |
| Median Personal Income | $40,327 | $53,537 | $61,726 |
| Average income growth | 5.5% | 5.7% | 5.1% |
| Six-Figure Earners | 2.7% | 10.9% | 13.2% |
The median household income in Egypt Lake-Leto is about 24% lower than in Florida. Income has been growing slower in Egypt Lake-Leto (5.5%/yr) than in Florida (5.7%/yr).
About 3% of adults in Egypt Lake-Leto 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 Egypt Lake-Leto, Florida grew by 45.1% from 2009 to 2023, reaching $54,389 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Egypt Lake-Leto | Gender Pay Gap | Gini Coefficient
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.566 | 0.570 |
| Male Median Income | $43,156 | $58,426 | $67,746 |
| Female Median Income | $37,503 | $48,893 | $54,793 |
| Gender Pay Gap | 13.1% | 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 Egypt Lake-Leto, it is 0.513, 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 15% more than women's income in Egypt Lake-Leto, Florida. Over a 35-year career, a 15% wage gap accumulates to roughly $197,855 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Egypt Lake-Leto, Florida has stayed about the same since 2009, at around 13%. In dollar terms, the gap has widened by $1,353 since 2009.
Employment
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.5% | 4.8% | 5.2% |
| Working from Home | 9.3% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,544 people are unemployed in Egypt Lake-Leto, Florida.
The average commute time in Egypt Lake-Leto is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Egypt Lake-Leto, Florida has fallen from 11.1% to 7.5% in 2023.
Conclusion
Considering all these factors, Egypt Lake-Leto, 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 Egypt Lake-Leto, Florida.
How Wealthy Is Egypt Lake-Leto, Florida?
Egypt Lake-Leto 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 $54,389, about 24% lower than the Florida average of $71,865.
What is the current median household income in Egypt Lake-Leto, Florida?
As of 2023, the median household income in Egypt Lake-Leto, Florida is $54,389.
What was the median household income in Egypt Lake-Leto in 2023?
In 2023, the median household income in Egypt Lake-Leto, Florida was $54,389.
What was the median household income in Egypt Lake-Leto in 2020?
In 2020, the median household income in Egypt Lake-Leto, Florida was $46,249.
What is the Gini coefficient in Egypt Lake-Leto, Florida?
The Gini coefficient in Egypt Lake-Leto is 0.513. 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 Egypt Lake-Leto, Florida?
The income gap between men and women in Egypt Lake-Leto, Florida has stayed about the same since 2009, at around 13%. In dollar terms, the gap has widened by $1,353 since 2009.