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 Myers | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,599 | $71,865 | $78,145 |
| Median Personal Income | $48,963 | $53,537 | $61,726 |
| Average income growth | 6.6% | 5.7% | 5.1% |
| Six-Figure Earners | 9.9% | 10.9% | 13.2% |
The median household income in Fort Myers is about 17% lower than in Florida. Income has been growing faster in Fort Myers (6.6%/yr) than in Florida (5.7%/yr).
About 10% of adults in Fort Myers 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 Fort Myers, Florida grew by 57.7% from 2009 to 2023, reaching $59,599 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Fort Myers | Gender Pay Gap | Gini Coefficient
| Metric | Fort Myers | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.560 | 0.566 | 0.570 |
| Male Median Income | $50,402 | $58,426 | $67,746 |
| Female Median Income | $46,022 | $48,893 | $54,793 |
| Gender Pay Gap | 8.7% | 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 Myers, it is 0.560, 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 10% more than women's income in Fort Myers, Florida. Over a 35-year career, a 10% wage gap accumulates to roughly $153,300 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fort Myers, Florida has narrowed from about 16% to 9% in 2023. In dollar terms, the gap has narrowed by $1,117 since 2009.
Employment
| Metric | Fort Myers | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.8% | 5.2% |
| Working from Home | 12.8% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 1,739 people are unemployed in Fort Myers, Florida.
The average commute time in Fort Myers is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fort Myers, Florida has fallen from 14.7% to 4.3% in 2023.
Conclusion
Considering all these factors, Fort Myers, Florida has an overall wealth index grade of D, making it about on par with Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fort Myers, Florida.
How Rich Is Fort Myers, Florida?
Fort Myers 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 $59,599, about 17% lower than the Florida average of $71,865.
What is the current median household income in Fort Myers, Florida?
As of 2023, the median household income in Fort Myers, Florida is $59,599.
What was the median household income in Fort Myers in 2023?
In 2023, the median household income in Fort Myers, Florida was $59,599.
What was the median household income in Fort Myers in 2020?
In 2020, the median household income in Fort Myers, Florida was $47,413.
What is the Gini coefficient in Fort Myers, Florida?
The Gini coefficient in Fort Myers is 0.560. 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 Fort Myers, Florida?
Since 2009, the income gap between men and women in Fort Myers, Florida has narrowed from about 16% to 9% in 2023. In dollar terms, the gap has narrowed by $1,117 since 2009.