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 | Fort Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,921 | $71,865 | $78,145 |
| Median Personal Income | $79,921 | $71,865 | $78,145 |
| Average income growth | 6.6% | 6.6% | 6.6% |
The median household income in Fort Lauderdale is about 11% higher than in Florida. Income has been growing faster in Fort Lauderdale (6.6%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Fort Lauderdale, Florida grew by 59.6% from 2009 to 2023, reaching $79,921 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Fort Lauderdale | Gender Pay Gap | Gini Coefficient
| Metric | Fort Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.566 | 0.570 |
| Male Median Income | $65,941 | $58,426 | $67,746 |
| Female Median Income | $56,463 | $48,893 | $54,793 |
| Gender Pay Gap | 14.4% | 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 Fort Lauderdale, it is 0.574, higher than Florida's 0.566, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 17% more than women's income in Fort Lauderdale, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fort Lauderdale, Florida has narrowed from about 21% to 14% in 2023.
Employment
| Metric | Fort Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 4.8% | 5.2% |
| Working from Home | 17.1% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
The average commute time in Fort Lauderdale is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fort Lauderdale, Florida has fallen from 10.8% to 5.4% in 2023.
Conclusion
Considering all these factors, Fort Lauderdale, 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 Fort Lauderdale, Florida.
How Rich Is Fort Lauderdale, Florida?
Fort Lauderdale 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 $79,921, about 11% higher than the Florida average of $71,865.
What is the current median household income in Fort Lauderdale, Florida?
As of 2023, the median household income in Fort Lauderdale, Florida is $79,921.
What was the median household income in Fort Lauderdale in 2023?
In 2023, the median household income in Fort Lauderdale, Florida was $79,921.
What was the median household income in Fort Lauderdale in 2020?
In 2020, the median household income in Fort Lauderdale, Florida was $62,684.
What is the Gini coefficient in Fort Lauderdale, Florida?
The Gini coefficient in Fort Lauderdale is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Fort Lauderdale, Florida?
Since 2009, the income gap between men and women in Fort Lauderdale, Florida has narrowed from about 21% to 14% in 2023.