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 Port | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,839 | $71,865 | $78,145 |
| Median Personal Income | $56,413 | $53,537 | $61,726 |
| Average income growth | 5.8% | 5.7% | 5.1% |
| Six-Figure Earners | 10.1% | 10.9% | 13.2% |
The median household income in North Port is about 12% higher than in Florida. Income has been growing faster in North Port (5.8%/yr) than in Florida (5.7%/yr).
About 10% of adults in North Port 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 North Port, Florida grew by 64.2% from 2009 to 2023, reaching $80,839 in 2023. That's an average of about 5.8% per year.
Economic Inequality in North Port | Gender Pay Gap | Gini Coefficient
| Metric | North Port | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.520 | 0.566 | 0.570 |
| Male Median Income | $60,953 | $58,426 | $67,746 |
| Female Median Income | $50,883 | $48,893 | $54,793 |
| Gender Pay Gap | 16.5% | 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 Port, it is 0.520, 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 20% more than women's income in North Port, Florida. Over a 35-year career, a 20% wage gap accumulates to roughly $352,450 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Port, Florida has narrowed from about 20% to 17% in 2023. In dollar terms, the gap has widened by $1,834 since 2009.
Employment
| Metric | North Port | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.8% | 5.2% |
| Working from Home | 10.6% | 13.9% | 13.4% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 1,685 people are unemployed in North Port, Florida.
The average commute time in North Port is 27 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Port, Florida has fallen from 12.1% to 4.8% in 2023.
Conclusion
Considering all these factors, North Port, Florida has an overall wealth index grade of C, making it somewhat better than Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in North Port, Florida.
How Rich Is North Port, Florida?
North Port has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $80,839, about 12% higher than the Florida average of $71,865.
What is the current median household income in North Port, Florida?
As of 2023, the median household income in North Port, Florida is $80,839.
What was the median household income in North Port in 2023?
In 2023, the median household income in North Port, Florida was $80,839.
What was the median household income in North Port in 2020?
In 2020, the median household income in North Port, Florida was $65,572.
What is the Gini coefficient in North Port, Florida?
The Gini coefficient in North Port is 0.520. 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 Port, Florida?
Since 2009, the income gap between men and women in North Port, Florida has narrowed from about 20% to 17% in 2023. In dollar terms, the gap has widened by $1,834 since 2009.