Wealth Index
Wealthier than 82% of 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 | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,023 | $71,865 | $78,145 |
| Median Personal Income | $57,377 | $53,537 | $61,726 |
| Average income growth | 5.3% | 5.7% | 5.1% |
| Six-Figure Earners | 12.2% | 10.9% | 13.2% |
The median household income in Hillsborough County is about 4% higher than in Florida. Income has been growing slower in Hillsborough County (5.3%/yr) than in Florida (5.7%/yr).
About 12% of adults in Hillsborough County earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hillsborough County, Florida grew by 50.6% from 2009 to 2023, reaching $75,023 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Hillsborough County | Gender Pay Gap | Gini Coefficient
| Metric | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.566 | 0.566 | 0.570 |
| Male Median Income | $63,084 | $58,426 | $67,746 |
| Female Median Income | $52,156 | $48,893 | $54,793 |
| Gender Pay Gap | 17.3% | 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 Hillsborough County, it is 0.566, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 21% more than women's income in Hillsborough County, Florida. Over a 35-year career, a 21% wage gap accumulates to roughly $382,480 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Hillsborough County, Florida has stayed about the same since 2009, at around 17%. In dollar terms, the gap has widened by $3,339 since 2009.
Employment
| Metric | Hillsborough County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 4.8% | 5.2% |
| Working from Home | 18.3% | 13.9% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 35,435 people are unemployed in Hillsborough County, Florida.
The average commute time in Hillsborough County is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hillsborough County, Florida has fallen from 9.8% to 4.5% in 2023.
Conclusion
Considering all these factors, Hillsborough County, Florida has an overall wealth index grade of C, making it somewhat better than Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hillsborough County, Florida.
How Rich Is Hillsborough County, Florida?
Hillsborough County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $75,023, about 4% higher than the Florida average of $71,865.
What is the current median household income in Hillsborough County, Florida?
As of 2023, the median household income in Hillsborough County, Florida is $75,023.
What was the median household income in Hillsborough County in 2023?
In 2023, the median household income in Hillsborough County, Florida was $75,023.
What was the median household income in Hillsborough County in 2020?
In 2020, the median household income in Hillsborough County, Florida was $60,647.
What is the Gini coefficient in Hillsborough County, Florida?
The Gini coefficient in Hillsborough County is 0.566. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Hillsborough County, Florida?
The income gap between men and women in Hillsborough County, Florida has stayed about the same since 2009, at around 17%. In dollar terms, the gap has widened by $3,339 since 2009.