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 | Gilchrist County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,162 | $71,865 | $78,145 |
| Median Personal Income | $52,467 | $53,537 | $61,726 |
| Average income growth | 5.9% | 5.7% | 5.1% |
| Six-Figure Earners | 6.8% | 10.9% | 13.2% |
The median household income in Gilchrist County is about 15% lower than in Florida. Income has been growing faster in Gilchrist County (5.9%/yr) than in Florida (5.7%/yr).
About 7% of adults in Gilchrist County 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 Gilchrist County, Florida grew by 47.8% from 2009 to 2023, reaching $61,162 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Gilchrist County | Gender Pay Gap | Gini Coefficient
| Metric | Gilchrist County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.566 | 0.570 |
| Male Median Income | $58,700 | $58,426 | $67,746 |
| Female Median Income | $45,838 | $48,893 | $54,793 |
| Gender Pay Gap | 21.9% | 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 Gilchrist County, it is 0.555, 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 28% more than women's income in Gilchrist County, Florida. Over a 35-year career, a 28% wage gap accumulates to roughly $450,170 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gilchrist County, Florida has widened from about 11% to 22% in 2023. In dollar terms, the gap has widened by $9,072 since 2009.
Employment
| Metric | Gilchrist County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.8% | 5.2% |
| Working from Home | 3.9% | 13.9% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 249 people are unemployed in Gilchrist County, Florida.
The average commute time in Gilchrist County is 28 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gilchrist County, Florida has fallen from 12.1% to 3.2% in 2023.
Conclusion
Considering all these factors, Gilchrist County, 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 Gilchrist County, Florida.
How Rich Is Gilchrist County, Florida?
Gilchrist County 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 $61,162, about 15% lower than the Florida average of $71,865.
What is the current median household income in Gilchrist County, Florida?
As of 2023, the median household income in Gilchrist County, Florida is $61,162.
What was the median household income in Gilchrist County in 2023?
In 2023, the median household income in Gilchrist County, Florida was $61,162.
What was the median household income in Gilchrist County in 2020?
In 2020, the median household income in Gilchrist County, Florida was $47,668.
What is the Gini coefficient in Gilchrist County, Florida?
The Gini coefficient in Gilchrist County is 0.555. 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 Gilchrist County, Florida?
Since 2009, the income gap between men and women in Gilchrist County, Florida has widened from about 11% to 22% in 2023. In dollar terms, the gap has widened by $9,072 since 2009.