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 | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,242 | $71,865 | $78,145 |
| Median Personal Income | $67,242 | $71,865 | $78,145 |
| Average income growth | 6.2% | 6.2% | 6.2% |
The median household income in Ives Estates is about 6% lower than in Florida. Income has been growing faster in Ives Estates (6.2%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Ives Estates, Florida grew by 49.8% from 2009 to 2023, reaching $67,242 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Ives Estates | Gender Pay Gap | Gini Coefficient
| Metric | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.566 | 0.570 |
| Male Median Income | $49,333 | $58,426 | $67,746 |
| Female Median Income | $45,220 | $48,893 | $54,793 |
| Gender Pay Gap | 8.3% | 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 Ives Estates, it is 0.545, 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 9% more than women's income in Ives Estates, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ives Estates, Florida has narrowed from about 9% to 8% in 2023.
Employment
| Metric | Ives Estates | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 4.8% | 5.2% |
| Working from Home | 10.5% | 13.9% | 13.4% |
| Commute time (minutes) | 32 | 23 | 22 |
The average commute time in Ives Estates is 32 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ives Estates, Florida has fallen from 12.1% to 5.7% in 2023.
Conclusion
Considering all these factors, Ives Estates, Florida has an overall wealth index grade of C, making it about on par with Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Ives Estates, Florida.
How Wealthy Is Ives Estates, Florida?
Ives Estates 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 $67,242, about 6% lower than the Florida average of $71,865.
What is the current median household income in Ives Estates, Florida?
As of 2023, the median household income in Ives Estates, Florida is $67,242.
What was the median household income in Ives Estates in 2023?
In 2023, the median household income in Ives Estates, Florida was $67,242.
What was the median household income in Ives Estates in 2020?
In 2020, the median household income in Ives Estates, Florida was $54,785.
What is the Gini coefficient in Ives Estates, Florida?
The Gini coefficient in Ives Estates is 0.545. 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 Ives Estates, Florida?
Since 2009, the income gap between men and women in Ives Estates, Florida has narrowed from about 9% to 8% in 2023.