Wealth Index
Wealthier than 89% of counties in Florida
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 | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,454 | $71,865 | $78,145 |
| Median Personal Income | $58,039 | $53,537 | $61,726 |
| Average income growth | 4.6% | 5.7% | 5.1% |
| Six-Figure Earners | 13.2% | 10.9% | 13.2% |
The median household income in Okaloosa County is about 11% higher than in Florida. Income has been growing slower in Okaloosa County (4.6%/yr) than in Florida (5.7%/yr).
About 13% of adults in Okaloosa County earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Okaloosa County, Florida grew by 47.5% from 2009 to 2023, reaching $79,454 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Okaloosa County | Gender Pay Gap | Gini Coefficient
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.548 | 0.566 | 0.570 |
| Male Median Income | $63,771 | $58,426 | $67,746 |
| Female Median Income | $47,955 | $48,893 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Okaloosa County, it is 0.548, 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 33% more than women's income in Okaloosa County, Florida. Over a 35-year career, a 33% wage gap accumulates to roughly $553,560 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Okaloosa County, Florida has narrowed from about 26% to 25% in 2023. In dollar terms, the gap has widened by $4,240 since 2009.
Employment
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 4.8% | 5.2% |
| Working from Home | 9.2% | 13.9% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 3,063 people are unemployed in Okaloosa County, Florida.
The average commute time in Okaloosa County is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Okaloosa County, Florida has fallen from 7.6% to 2.8% in 2023.
Conclusion
Considering all these factors, Okaloosa County, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Okaloosa County, Florida.
How Wealthy Is Okaloosa County, Florida?
Okaloosa County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $79,454, about 11% higher than the Florida average of $71,865.
What is the current median household income in Okaloosa County, Florida?
As of 2023, the median household income in Okaloosa County, Florida is $79,454.
What was the median household income in Okaloosa County in 2023?
In 2023, the median household income in Okaloosa County, Florida was $79,454.
What was the median household income in Okaloosa County in 2020?
In 2020, the median household income in Okaloosa County, Florida was $65,339.
What is the Gini coefficient in Okaloosa County, Florida?
The Gini coefficient in Okaloosa County is 0.548. 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 Okaloosa County, Florida?
Since 2009, the income gap between men and women in Okaloosa County, Florida has narrowed from about 26% to 25% in 2023. In dollar terms, the gap has widened by $4,240 since 2009.