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 | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,088 | $71,865 | $78,145 |
| Median Personal Income | $50,187 | $53,537 | $61,726 |
| Average income growth | 5.0% | 5.7% | 5.1% |
| Six-Figure Earners | 8.6% | 10.9% | 13.2% |
The median household income in Hallandale Beach is about 32% lower than in Florida. Income has been growing slower in Hallandale Beach (5.0%/yr) than in Florida (5.7%/yr).
About 9% of adults in Hallandale Beach 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 Hallandale Beach, Florida grew by 37.5% from 2009 to 2023, reaching $49,088 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Hallandale Beach | Gender Pay Gap | Gini Coefficient
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.566 | 0.570 |
| Male Median Income | $54,018 | $58,426 | $67,746 |
| Female Median Income | $45,164 | $48,893 | $54,793 |
| Gender Pay Gap | 16.4% | 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 Hallandale Beach, it is 0.562, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 20% more than women's income in Hallandale Beach, Florida. Over a 35-year career, a 20% wage gap accumulates to roughly $309,890 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hallandale Beach, Florida has widened from about 8% to 16% in 2023. In dollar terms, the gap has widened by $6,040 since 2009.
Employment
| Metric | Hallandale Beach | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.3% | 4.8% | 5.2% |
| Working from Home | 12.5% | 13.9% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 1,904 people are unemployed in Hallandale Beach, Florida.
The average commute time in Hallandale Beach is 28 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hallandale Beach, Florida has fallen from 12.3% to 9.3% in 2023.
Conclusion
Considering all these factors, Hallandale Beach, 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.
Hallandale Beach, FL Wealth Compared With Nearby Cities
How Hallandale Beach, FL compares with the 2 cities closest to it.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Hallandale Beach, FL | 39,266 | $49,088 #3/3 | 9.3% #3/3 | 0.6 #2/3 |
| Aventura, FL | 37,065 | $80,271 | 3.9% | 0.6 |
| Ives Estates, FL | 24,596 | $67,242 | 5.7% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Hallandale Beach, Florida.
How Rich Is Hallandale Beach, Florida?
Hallandale Beach 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 $49,088, about 32% lower than the Florida average of $71,865.
What is the current median household income in Hallandale Beach, Florida?
As of 2023, the median household income in Hallandale Beach, Florida is $49,088.
What was the median household income in Hallandale Beach in 2023?
In 2023, the median household income in Hallandale Beach, Florida was $49,088.
What was the median household income in Hallandale Beach in 2020?
In 2020, the median household income in Hallandale Beach, Florida was $40,552.
What is the Gini coefficient in Hallandale Beach, Florida?
The Gini coefficient in Hallandale Beach is 0.562. 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 Hallandale Beach, Florida?
Since 2009, the income gap between men and women in Hallandale Beach, Florida has widened from about 8% to 16% in 2023. In dollar terms, the gap has widened by $6,040 since 2009.