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 | Lauderdale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,288 | $71,865 | $78,145 |
| Median Personal Income | $45,288 | $71,865 | $78,145 |
| Average income growth | 3.7% | 3.7% | 3.7% |
The median household income in Lauderdale Lakes is about 37% lower than in Florida. Income has been growing slower in Lauderdale Lakes (3.7%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Lauderdale Lakes, Florida grew by 26.8% from 2009 to 2023, reaching $45,288 in 2023. That's an average of about 1.9% per year.
Economic Inequality in Lauderdale Lakes | Gender Pay Gap | Gini Coefficient
| Metric | Lauderdale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.566 | 0.570 |
| Male Median Income | $40,911 | $58,426 | $67,746 |
| Female Median Income | $35,424 | $48,893 | $54,793 |
| Gender Pay Gap | 13.4% | 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 Lauderdale Lakes, it is 0.540, 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 15% more than women's income in Lauderdale Lakes, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lauderdale Lakes, Florida has widened from about 1% to 13% in 2023.
Employment
| Metric | Lauderdale Lakes | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.4% | 4.8% | 5.2% |
| Working from Home | 3.5% | 13.9% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
The average commute time in Lauderdale Lakes is 25 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lauderdale Lakes, Florida has fallen from 15.7% to 7.4% in 2023.
Conclusion
Considering all these factors, Lauderdale Lakes, 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 Lauderdale Lakes, Florida.
How Rich Is Lauderdale Lakes, Florida?
Lauderdale Lakes 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 $45,288, about 37% lower than the Florida average of $71,865.
What is the current median household income in Lauderdale Lakes, Florida?
As of 2023, the median household income in Lauderdale Lakes, Florida is $45,288.
What was the median household income in Lauderdale Lakes in 2023?
In 2023, the median household income in Lauderdale Lakes, Florida was $45,288.
What was the median household income in Lauderdale Lakes in 2020?
In 2020, the median household income in Lauderdale Lakes, Florida was $37,404.
What is the Gini coefficient in Lauderdale Lakes, Florida?
The Gini coefficient in Lauderdale Lakes is 0.540. 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 Lauderdale Lakes, Florida?
Since 2009, the income gap between men and women in Lauderdale Lakes, Florida has widened from about 1% to 13% in 2023.