Wealth Index
Among the 3 least wealthy counties in Florida
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 | Hamilton County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $47,445 | $71,865 | $78,145 |
| Median Personal Income | $40,445 | $53,537 | $61,726 |
| Average income growth | 3.3% | 5.7% | 5.1% |
| Six-Figure Earners | 2.0% | 10.9% | 13.2% |
The median household income in Hamilton County is about 34% lower than in Florida. Income has been growing slower in Hamilton County (3.3%/yr) than in Florida (5.7%/yr).
About 2% of adults in Hamilton 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 Hamilton County, Florida grew by 32.9% from 2009 to 2023, reaching $47,445 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Hamilton County | Gender Pay Gap | Gini Coefficient
| Metric | Hamilton County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.685 | 0.566 | 0.570 |
| Male Median Income | $44,608 | $58,426 | $67,746 |
| Female Median Income | $38,882 | $48,893 | $54,793 |
| Gender Pay Gap | 12.8% | 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 Hamilton County, it is 0.685, 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 15% more than women's income in Hamilton County, Florida. Over a 35-year career, a 15% wage gap accumulates to roughly $200,410 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hamilton County, Florida has narrowed from about 32% to 13% in 2023. In dollar terms, the gap has narrowed by $6,628 since 2009.
Employment
| Metric | Hamilton County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.9% | 4.8% | 5.2% |
| Working from Home | 7.5% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 314 people are unemployed in Hamilton County, Florida.
The average commute time in Hamilton County is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hamilton County, Florida has fallen from 13.1% to 7.9% in 2023.
Conclusion
Considering all these factors, Hamilton County, Florida has an overall wealth index grade of F, making it worse than Florida, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hamilton County, Florida.
How Rich Is Hamilton County, Florida?
Hamilton County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $47,445, about 34% lower than the Florida average of $71,865.
What is the current median household income in Hamilton County, Florida?
As of 2023, the median household income in Hamilton County, Florida is $47,445.
What was the median household income in Hamilton County in 2023?
In 2023, the median household income in Hamilton County, Florida was $47,445.
What was the median household income in Hamilton County in 2020?
In 2020, the median household income in Hamilton County, Florida was $37,473.
What is the Gini coefficient in Hamilton County, Florida?
The Gini coefficient in Hamilton County is 0.685. 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 Hamilton County, Florida?
Since 2009, the income gap between men and women in Hamilton County, Florida has narrowed from about 32% to 13% in 2023. In dollar terms, the gap has narrowed by $6,628 since 2009.