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 | North Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,843 | $71,865 | $78,145 |
| Median Personal Income | $64,843 | $71,865 | $78,145 |
| Average income growth | 6.4% | 6.4% | 6.4% |
The median household income in North Lauderdale is about 10% lower than in Florida. Income has been growing faster in North Lauderdale (6.4%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in North Lauderdale, Florida grew by 46.4% from 2009 to 2023, reaching $64,843 in 2023. That's an average of about 3.3% per year.
Economic Inequality in North Lauderdale | Gender Pay Gap | Gini Coefficient
| Metric | North Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.566 | 0.570 |
| Male Median Income | $44,234 | $58,426 | $67,746 |
| Female Median Income | $40,143 | $48,893 | $54,793 |
| Gender Pay Gap | 9.2% | 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 North Lauderdale, it is 0.515, 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 10% more than women's income in North Lauderdale, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Lauderdale, Florida has widened from about 6% to 9% in 2023.
Employment
| Metric | North Lauderdale | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.6% | 4.8% | 5.2% |
| Working from Home | 5.9% | 13.9% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
The average commute time in North Lauderdale is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Lauderdale, Florida has fallen from 12.0% to 5.6% in 2023.
Conclusion
Considering all these factors, North Lauderdale, 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 North Lauderdale, Florida.
How Rich Is North Lauderdale, Florida?
North Lauderdale 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 $64,843, about 10% lower than the Florida average of $71,865.
What is the current median household income in North Lauderdale, Florida?
As of 2023, the median household income in North Lauderdale, Florida is $64,843.
What was the median household income in North Lauderdale in 2023?
In 2023, the median household income in North Lauderdale, Florida was $64,843.
What was the median household income in North Lauderdale in 2020?
In 2020, the median household income in North Lauderdale, Florida was $49,356.
What is the Gini coefficient in North Lauderdale, Florida?
The Gini coefficient in North Lauderdale is 0.515. 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 North Lauderdale, Florida?
Since 2009, the income gap between men and women in North Lauderdale, Florida has widened from about 6% to 9% in 2023.