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 | Marion County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,678 | $71,865 | $78,145 |
| Median Personal Income | $47,072 | $53,537 | $61,726 |
| Average income growth | 5.5% | 5.7% | 5.1% |
| Six-Figure Earners | 6.1% | 10.9% | 13.2% |
The median household income in Marion County is about 18% lower than in Florida. Income has been growing slower in Marion County (5.5%/yr) than in Florida (5.7%/yr).
About 6% of adults in Marion 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 Marion County, Florida grew by 45.5% from 2009 to 2023, reaching $58,678 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Marion County | Gender Pay Gap | Gini Coefficient
| Metric | Marion County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.566 | 0.570 |
| Male Median Income | $51,363 | $58,426 | $67,746 |
| Female Median Income | $42,539 | $48,893 | $54,793 |
| Gender Pay Gap | 17.2% | 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 Marion County, 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 21% more than women's income in Marion County, Florida. Over a 35-year career, a 21% wage gap accumulates to roughly $308,840 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Marion County, Florida has narrowed from about 19% to 17% in 2023. In dollar terms, the gap has widened by $1,845 since 2009.
Employment
| Metric | Marion County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.8% | 5.2% |
| Working from Home | 10.1% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 8,159 people are unemployed in Marion County, Florida.
The average commute time in Marion County is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Marion County, Florida has fallen from 12.5% to 5.2% in 2023.
Conclusion
Considering all these factors, Marion 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 Marion County, Florida.
How Rich Is Marion County, Florida?
Marion 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 $58,678, about 18% lower than the Florida average of $71,865.
What is the current median household income in Marion County, Florida?
As of 2023, the median household income in Marion County, Florida is $58,678.
What was the median household income in Marion County in 2023?
In 2023, the median household income in Marion County, Florida was $58,678.
What was the median household income in Marion County in 2020?
In 2020, the median household income in Marion County, Florida was $46,554.
What is the Gini coefficient in Marion County, Florida?
The Gini coefficient in Marion County 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 Marion County, Florida?
Since 2009, the income gap between men and women in Marion County, Florida has narrowed from about 19% to 17% in 2023. In dollar terms, the gap has widened by $1,845 since 2009.