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 | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $87,037 | $71,865 | $78,145 |
| Median Personal Income | $56,395 | $53,537 | $61,726 |
| Average income growth | 6.2% | 5.7% | 5.1% |
| Six-Figure Earners | 9.5% | 10.9% | 13.2% |
The median household income in Ocoee is about 21% higher than in Florida. Income has been growing faster in Ocoee (6.2%/yr) than in Florida (5.7%/yr).
About 10% of adults in Ocoee 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 Ocoee, Florida grew by 47.1% from 2009 to 2023, reaching $87,037 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Ocoee | Gender Pay Gap | Gini Coefficient
| Metric | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.568 | 0.566 | 0.570 |
| Male Median Income | $61,935 | $58,426 | $67,746 |
| Female Median Income | $47,429 | $48,893 | $54,793 |
| Gender Pay Gap | 23.4% | 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 Ocoee, it is 0.568, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 31% more than women's income in Ocoee, Florida. Over a 35-year career, a 31% wage gap accumulates to roughly $507,710 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ocoee, Florida has widened from about 18% to 23% in 2023. In dollar terms, the gap has widened by $6,250 since 2009.
Employment
| Metric | Ocoee | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 4.8% | 5.2% |
| Working from Home | 13.7% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 926 people are unemployed in Ocoee, Florida.
The average commute time in Ocoee is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ocoee, Florida has fallen from 8.9% to 4.7% in 2023.
Conclusion
Considering all these factors, Ocoee, 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 Ocoee, Florida.
How Wealthy Is Ocoee, Florida?
Ocoee 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 $87,037, about 21% higher than the Florida average of $71,865.
What is the current median household income in Ocoee, Florida?
As of 2023, the median household income in Ocoee, Florida is $87,037.
What was the median household income in Ocoee in 2023?
In 2023, the median household income in Ocoee, Florida was $87,037.
What was the median household income in Ocoee in 2020?
In 2020, the median household income in Ocoee, Florida was $70,414.
What is the Gini coefficient in Ocoee, Florida?
The Gini coefficient in Ocoee is 0.568. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Ocoee, Florida?
Since 2009, the income gap between men and women in Ocoee, Florida has widened from about 18% to 23% in 2023. In dollar terms, the gap has widened by $6,250 since 2009.