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 | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,500 | $71,865 | $78,145 |
| Median Personal Income | $110,681 | $53,537 | $61,726 |
| Average income growth | 3.2% | 5.7% | 5.1% |
| Six-Figure Earners | 32.1% | 10.9% | 13.2% |
The median household income in Fisher Island is about 12% higher than in Florida. Income has been growing slower in Fisher Island (3.2%/yr) than in Florida (5.7%/yr).
About 32% of adults in Fisher Island earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Fisher Island, Florida fell by 4.2% from 2009 to 2023, reaching $80,500 in 2023. That's an average of about 3.2% per year.
Economic Inequality in Fisher Island | Gender Pay Gap | Gini Coefficient
| Metric | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.589 | 0.566 | 0.570 |
| Male Median Income | $129,813 | $58,426 | $67,746 |
| Female Median Income | $73,153 | $48,893 | $54,793 |
| Gender Pay Gap | 43.6% | 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 Fisher Island, it is 0.589, 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 77% more than women's income in Fisher Island, Florida. Over a 35-year career, a 77% wage gap accumulates to roughly $1,983,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fisher Island, Florida has narrowed from about 64% to 44% in 2023. In dollar terms, the gap has narrowed by $22,162 since 2009.
Employment
| Metric | Fisher Island | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 4.8% | 5.2% |
| Working from Home | 29.9% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 7 people are unemployed in Fisher Island, Florida.
The average commute time in Fisher Island is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fisher Island, Florida has fallen from 4.2% to 3.0% in 2023.
Conclusion
Considering all these factors, Fisher Island, Florida has an overall wealth index grade of B, making it notably better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fisher Island, Florida.
How Rich Is Fisher Island, Florida?
Fisher Island 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 $80,500, about 12% higher than the Florida average of $71,865.
What is the current median household income in Fisher Island, Florida?
As of 2023, the median household income in Fisher Island, Florida is $80,500.
What was the median household income in Fisher Island in 2023?
In 2023, the median household income in Fisher Island, Florida was $80,500.
What was the median household income in Fisher Island in 2020?
In 2020, the median household income in Fisher Island, Florida was $89,304.
What is the Gini coefficient in Fisher Island, Florida?
The Gini coefficient in Fisher Island is 0.589. 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 Fisher Island, Florida?
Since 2009, the income gap between men and women in Fisher Island, Florida has narrowed from about 64% to 44% in 2023. In dollar terms, the gap has narrowed by $22,162 since 2009.