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 | Largo | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,089 | $71,865 | $78,145 |
| Median Personal Income | $51,524 | $53,537 | $61,726 |
| Average income growth | 6.0% | 5.7% | 5.1% |
| Six-Figure Earners | 6.3% | 10.9% | 13.2% |
The median household income in Largo is about 16% lower than in Florida. Income has been growing faster in Largo (6.0%/yr) than in Florida (5.7%/yr).
About 6% of adults in Largo 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 Largo, Florida grew by 51.8% from 2009 to 2023, reaching $60,089 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Largo | Gender Pay Gap | Gini Coefficient
| Metric | Largo | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.516 | 0.566 | 0.570 |
| Male Median Income | $55,174 | $58,426 | $67,746 |
| Female Median Income | $48,238 | $48,893 | $54,793 |
| Gender Pay Gap | 12.6% | 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 Largo, it is 0.516, 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 14% more than women's income in Largo, Florida. Over a 35-year career, a 14% wage gap accumulates to roughly $242,760 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Largo, Florida has narrowed from about 14% to 13% in 2023. In dollar terms, the gap has widened by $1,615 since 2009.
Employment
| Metric | Largo | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 4.8% | 5.2% |
| Working from Home | 11.6% | 13.9% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 2,030 people are unemployed in Largo, Florida.
The average commute time in Largo is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Largo, Florida has fallen from 10.6% to 4.7% in 2023.
Conclusion
Considering all these factors, Largo, Florida has an overall wealth index grade of D, making it about on par with Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Largo, Florida.
How Rich Is Largo, Florida?
Largo 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 $60,089, about 16% lower than the Florida average of $71,865.
What is the current median household income in Largo, Florida?
As of 2023, the median household income in Largo, Florida is $60,089.
What was the median household income in Largo in 2023?
In 2023, the median household income in Largo, Florida was $60,089.
What was the median household income in Largo in 2020?
In 2020, the median household income in Largo, Florida was $47,678.
What is the Gini coefficient in Largo, Florida?
The Gini coefficient in Largo is 0.516. 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 Largo, Florida?
Since 2009, the income gap between men and women in Largo, Florida has narrowed from about 14% to 13% in 2023. In dollar terms, the gap has widened by $1,615 since 2009.