Lake Magdalene, Florida Income Statistics
Lake Magdalene Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Lake Magdalene Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lake Magdalene | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,402 | $74,580 | $80,455 |
| Median Personal Income | $55,641 | $52,322 | $60,758 |
| Average Yearly Income Growth | 4.6% | 5.4% | 4.8% |
| Six-Figure Earners | 14.3% | 11.6% | 13.9% |
| $200k+ Households | 13.8% | 11.0% | 13.2% |
The median household income in Lake Magdalene is about 2% higher than in Florida. Income has been growing slower in Lake Magdalene (4.6%/yr) than in Florida (5.4%/yr).
About 14% of adults in Lake Magdalene earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lake Magdalene, Florida grew by 56.3% from 2009 to 2024, reaching $76,402 in 2024. That's an average of about 4.6% per year.
Lake Magdalene has been below the U.S. median household income in most years since 2009, but rose above it in 2018 and 2020-2021. In 2024 its income was 5.0% lower.
Income Distribution in Lake Magdalene
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 4,795 households (37.7% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 17.9% of households in Lake Magdalene had an income under $35,000 and 24.0% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Lake Magdalene has a larger share of households earning $50,000 to $74,999 (19.8% vs 15.5%) and a smaller share earning $100,000 to $149,999 (13.7% vs 17.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 554 | 4.4% | 5.1% |
| $10,000 to $14,999 | 152 | 1.2% | 3.5% |
| $15,000 to $24,999 | 662 | 5.2% | 6.4% |
| $25,000 to $34,999 | 906 | 7.1% | 6.7% |
| $35,000 to $49,999 | 1,480 | 11.6% | 10.1% |
| $50,000 to $74,999 | 2,515 | 19.8% | 15.5% |
| $75,000 to $99,999 | 1,662 | 13.1% | 12.6% |
| $100,000 to $149,999 | 1,739 | 13.7% | 17.4% |
| $150,000 to $199,999 | 1,306 | 10.3% | 9.5% |
| $200,000 or more | 1,750 | 13.8% | 13.2% |
Shares are of all 12,727 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 3,631 residents (14.3% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 16.3% of residents who have any income.
In 2024, 12.3% of Lake Magdalene residents aged 15 and over reported no personal income, 24.1% had some income but less than $25,000, and 23.2% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Lake Magdalene has a larger share of residents earning $50,000 to $74,999 (16.3% vs 14.3%) and a smaller share earning $1 to $9,999 (8.9% vs 11.2%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 3,110 | 12.3% | 12.8% |
| $1 to $9,999 | 2,257 | 8.9% | 11.2% |
| $10,000 to $14,999 | 1,340 | 5.3% | 7.0% |
| $15,000 to $24,999 | 2,506 | 9.9% | 10.5% |
| $25,000 to $34,999 | 2,606 | 10.3% | 9.5% |
| $35,000 to $49,999 | 3,524 | 13.9% | 12.6% |
| $50,000 to $74,999 | 4,131 | 16.3% | 14.3% |
| $75,000 to $99,999 | 2,256 | 8.9% | 8.2% |
| $100,000 or more | 3,631 | 14.3% | 13.9% |
Shares are of the 25,361 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 12.3% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Lake Magdalene
| Metric | Lake Magdalene | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.524 | 0.551 | 0.552 |
| Male Median Income | $63,156 | $60,595 | $69,667 |
| Female Median Income | $57,689 | $50,762 | $56,850 |
| Gender Pay Gap | 8.7% | 16.2% | 18.4% |
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 Lake Magdalene, it is 0.524, lower than Florida's 0.551, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 9% more than women's income in Lake Magdalene, Florida. Over a 35-year career, a 9% wage gap accumulates to roughly $191,345 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lake Magdalene, Florida has narrowed from about 25% to 9% in 2024. Over that period the gap was widest at 36% in 2012, and was narrowest at 2% in 2020. In dollar terms, the gap has narrowed by $6,592 since 2009.
Employment
| Metric | Lake Magdalene | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 4.8% | 5.2% |
| Working from Home | 18.6% | 15.7% | 15.0% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 529 people are unemployed in Lake Magdalene, Florida.
The average commute time in Lake Magdalene is 27 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake Magdalene, Florida has fallen from 9.6% to 3.3% in 2024. Over that period the rate peaked at 9.8% in 2012 and fell as low as 2.9% in 2023.
Lake Magdalene started 0.9 points above the U.S. unemployment rate in 2011 but had dropped below it by 2013, and has not been above it since. In 2024 its rate was 1.9 points lower.
Lake Magdalene, FL Wealth Compared With Nearby Cities
Lake Magdalene, FL is typical in size for this group, 31,109 residents against a local median of 35,186, so the measures below are close to a like for like comparison. Lake Magdalene, FL's median household income, at $76,402, runs 17% below the $92,501 typical of the cities around it. That is the weaker end of the local range on this measure.
Income growth tells the same story from another angle: 4.6%/yr against a local median of 5.5%/yr, 17% below it. The picture is mixed rather than uniform: unemployment runs ahead of the neighbourhood while median household income runs behind it, so Lake Magdalene, FL is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread $65,420 on median household income, so Lake Magdalene, FL sits at one end of an already wide local range rather than apart from it. Lake Magdalene, FL has the 4th highest median household income of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lake Magdalene, FL | 31,109 | $76,402 #4/5 | 4.6%/yr #4/5 | 3.3% #1/5 | 0.524 #2/5 |
| Carrollwood, FL | 37,566 | $84,172 | 3.9%/yr | 4.4% | 0.526 |
| University, FL | 45,630 | $38,990 | 5.9%/yr | 5.0% | 0.526 |
| Northdale, FL | 24,991 | $100,830 | 5.1%/yr | 3.6% | 0.509 |
| Lutz, FL | 32,806 | $104,411 | 6.0%/yr | 3.4% | 0.543 |
Conclusion
Considering all these factors, Lake Magdalene, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lake Magdalene, Florida.
How Rich Is Lake Magdalene, Florida?
Lake Magdalene has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $76,402, about 2% higher than the Florida average of $74,580.
How has median household income changed in Lake Magdalene, Florida?
Between 2009 and 2024, the median household income in Lake Magdalene, Florida rose 56%, from $48,866 to $76,402. Over the same years, income here kept pace with Florida as a whole: +56% against +57%.
What was the median household income in Lake Magdalene in 2023?
In 2023, the median household income in Lake Magdalene, Florida was $75,846, up 5% from $72,262 in 2022. The Florida median that year was $71,864.
What was the median household income in Lake Magdalene in 2020?
In 2020, the median household income in Lake Magdalene, Florida was $66,485. By 2024 it had risen 15% to $76,402.
Is unemployment high in Lake Magdalene, Florida?
Unemployment in Lake Magdalene, Florida is only 3.3%, well below the Florida rate of 4.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Lake Magdalene, Florida?
The Gini coefficient in Lake Magdalene is 0.524. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Lake Magdalene, Florida?
Since 2009, the income gap between men and women in Lake Magdalene, Florida has narrowed from about 25% to 9% in 2024. Over that period the gap was widest at 36% in 2012, and was narrowest at 2% in 2020. In dollar terms, the gap has narrowed by $6,592 since 2009.
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