Wealth Index
Less wealthy than 79% 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 | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,019 | $71,865 | $78,145 |
| Median Personal Income | $43,162 | $53,537 | $61,726 |
| Average income growth | 3.6% | 5.7% | 5.1% |
| Six-Figure Earners | 3.4% | 10.9% | 13.2% |
The median household income in Holmes County is about 33% lower than in Florida. Income has been growing slower in Holmes County (3.6%/yr) than in Florida (5.7%/yr).
About 3% of adults in Holmes 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 Holmes County, Florida grew by 43.9% from 2009 to 2023, reaching $48,019 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Holmes County | Gender Pay Gap | Gini Coefficient
| Metric | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.566 | 0.570 |
| Male Median Income | $44,753 | $58,426 | $67,746 |
| Female Median Income | $39,972 | $48,893 | $54,793 |
| Gender Pay Gap | 10.7% | 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 Holmes County, it is 0.573, higher than Florida's 0.566, so income is less evenly distributed here than 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 12% more than women's income in Holmes County, Florida. Over a 35-year career, a 12% wage gap accumulates to roughly $167,335 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Holmes County, Florida has widened from about 8% to 11% in 2023. In dollar terms, the gap has widened by $2,118 since 2009.
Employment
| Metric | Holmes County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 5.4% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 347 people are unemployed in Holmes County, Florida.
The average commute time in Holmes County is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Holmes County, Florida has fallen from 8.8% to 4.4% in 2023.
Conclusion
Considering all these factors, Holmes 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 Holmes County, Florida.
How Rich Is Holmes County, Florida?
Holmes 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 $48,019, about 33% lower than the Florida average of $71,865.
What is the current median household income in Holmes County, Florida?
As of 2023, the median household income in Holmes County, Florida is $48,019.
What was the median household income in Holmes County in 2023?
In 2023, the median household income in Holmes County, Florida was $48,019.
What was the median household income in Holmes County in 2020?
In 2020, the median household income in Holmes County, Florida was $39,426.
What is the Gini coefficient in Holmes County, Florida?
The Gini coefficient in Holmes County is 0.573. 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 Holmes County, Florida?
Since 2009, the income gap between men and women in Holmes County, Florida has widened from about 8% to 11% in 2023. In dollar terms, the gap has widened by $2,118 since 2009.