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 | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,416 | $71,865 | $78,145 |
| Median Personal Income | $47,718 | $53,537 | $61,726 |
| Average income growth | 6.4% | 5.7% | 5.1% |
| Six-Figure Earners | 4.6% | 10.9% | 13.2% |
The median household income in Levy County is about 24% lower than in Florida. Income has been growing faster in Levy County (6.4%/yr) than in Florida (5.7%/yr).
About 5% of adults in Levy 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 Levy County, Florida grew by 53.8% from 2009 to 2023, reaching $54,416 in 2023. That's an average of about 6.4% per year.
Economic Inequality in Levy County | Gender Pay Gap | Gini Coefficient
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.566 | 0.570 |
| Male Median Income | $52,137 | $58,426 | $67,746 |
| Female Median Income | $42,716 | $48,893 | $54,793 |
| Gender Pay Gap | 18.1% | 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 Levy County, it is 0.522, 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 22% more than women's income in Levy County, Florida. Over a 35-year career, a 22% wage gap accumulates to roughly $329,735 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Levy County, Florida has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $822 since 2009.
Employment
| Metric | Levy County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.8% | 5.2% |
| Working from Home | 6.9% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 697 people are unemployed in Levy County, Florida.
The average commute time in Levy County is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Levy County, Florida has fallen from 12.7% to 3.8% in 2023.
Conclusion
Considering all these factors, Levy 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 Levy County, Florida.
How Rich Is Levy County, Florida?
Levy 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 $54,416, about 24% lower than the Florida average of $71,865.
What is the current median household income in Levy County, Florida?
As of 2023, the median household income in Levy County, Florida is $54,416.
What was the median household income in Levy County in 2023?
In 2023, the median household income in Levy County, Florida was $54,416.
What was the median household income in Levy County in 2020?
In 2020, the median household income in Levy County, Florida was $38,884.
What is the Gini coefficient in Levy County, Florida?
The Gini coefficient in Levy County is 0.522. 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 Levy County, Florida?
Since 2009, the income gap between men and women in Levy County, Florida has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $822 since 2009.