Wealth Index
Less wealthy than 76% 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 | Okeechobee County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,607 | $71,865 | $78,145 |
| Median Personal Income | $46,185 | $53,537 | $61,726 |
| Average income growth | 5.2% | 5.7% | 5.1% |
| Six-Figure Earners | 5.5% | 10.9% | 13.2% |
The median household income in Okeechobee County is about 27% lower than in Florida. Income has been growing slower in Okeechobee County (5.2%/yr) than in Florida (5.7%/yr).
About 5% of adults in Okeechobee 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 Okeechobee County, Florida grew by 36.1% from 2009 to 2023, reaching $52,607 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Okeechobee County | Gender Pay Gap | Gini Coefficient
| Metric | Okeechobee County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.566 | 0.570 |
| Male Median Income | $48,185 | $58,426 | $67,746 |
| Female Median Income | $43,542 | $48,893 | $54,793 |
| Gender Pay Gap | 9.6% | 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 Okeechobee County, it is 0.569, 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 11% more than women's income in Okeechobee County, Florida. Over a 35-year career, a 11% wage gap accumulates to roughly $162,505 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Okeechobee County, Florida has narrowed from about 17% to 10% in 2023. In dollar terms, the gap has narrowed by $440 since 2009.
Employment
| Metric | Okeechobee County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 4.8% | 5.2% |
| Working from Home | 6.8% | 13.9% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 965 people are unemployed in Okeechobee County, Florida.
The average commute time in Okeechobee County is 18 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Okeechobee County, Florida has fallen from 11.8% to 6.0% in 2023.
Conclusion
Considering all these factors, Okeechobee 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 Okeechobee County, Florida.
How Wealthy Is Okeechobee County, Florida?
Okeechobee 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 $52,607, about 27% lower than the Florida average of $71,865.
What is the current median household income in Okeechobee County, Florida?
As of 2023, the median household income in Okeechobee County, Florida is $52,607.
What was the median household income in Okeechobee County in 2023?
In 2023, the median household income in Okeechobee County, Florida was $52,607.
What was the median household income in Okeechobee County in 2020?
In 2020, the median household income in Okeechobee County, Florida was $45,949.
What is the Gini coefficient in Okeechobee County, Florida?
The Gini coefficient in Okeechobee County is 0.569. 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 Okeechobee County, Florida?
Since 2009, the income gap between men and women in Okeechobee County, Florida has narrowed from about 17% to 10% in 2023. In dollar terms, the gap has narrowed by $440 since 2009.