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 | Hialeah Gardens | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,622 | $71,865 | $78,145 |
| Median Personal Income | $59,622 | $71,865 | $78,145 |
| Average income growth | 5.5% | 5.5% | 5.5% |
The median household income in Hialeah Gardens is about 17% lower than in Florida. Income has been growing slower in Hialeah Gardens (5.5%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hialeah Gardens, Florida grew by 39.2% from 2009 to 2023, reaching $59,622 in 2023. That's an average of about 2.8% per year.
Economic Inequality in Hialeah Gardens | Gender Pay Gap | Gini Coefficient
| Metric | Hialeah Gardens | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.520 | 0.566 | 0.570 |
| Male Median Income | $45,704 | $58,426 | $67,746 |
| Female Median Income | $35,244 | $48,893 | $54,793 |
| Gender Pay Gap | 22.9% | 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 Hialeah Gardens, it is 0.520, 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 30% more than women's income in Hialeah Gardens, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hialeah Gardens, Florida has narrowed from about 26% to 23% in 2023.
Employment
| Metric | Hialeah Gardens | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.8% | 5.2% |
| Working from Home | 11.0% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
The average commute time in Hialeah Gardens is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hialeah Gardens, Florida has fallen from 12.9% to 3.8% in 2023.
Conclusion
Considering all these factors, Hialeah Gardens, 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 Hialeah Gardens, Florida.
How Rich Is Hialeah Gardens, Florida?
Hialeah Gardens 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 $59,622, about 17% lower than the Florida average of $71,865.
What is the current median household income in Hialeah Gardens, Florida?
As of 2023, the median household income in Hialeah Gardens, Florida is $59,622.
What was the median household income in Hialeah Gardens in 2023?
In 2023, the median household income in Hialeah Gardens, Florida was $59,622.
What was the median household income in Hialeah Gardens in 2020?
In 2020, the median household income in Hialeah Gardens, Florida was $50,348.
What is the Gini coefficient in Hialeah Gardens, Florida?
The Gini coefficient in Hialeah Gardens is 0.520. 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 Hialeah Gardens, Florida?
Since 2009, the income gap between men and women in Hialeah Gardens, Florida has narrowed from about 26% to 23% in 2023.