Palm City, Florida Income Statistics
Palm City Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Palm City Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $125,476 | $74,580 | $80,455 |
| Median Personal Income | $91,329 | $52,322 | $60,758 |
| Average Yearly Income Growth | 7.1% | 5.4% | 4.8% |
| Six-Figure Earners | 26.0% | 11.6% | 13.9% |
| $200k+ Households | 26.7% | 11.0% | 13.2% |
The median household income in Palm City is about 68% higher than in Florida. Income has been growing faster in Palm City (7.1%/yr) than in Florida (5.4%/yr).
About 26% of adults in Palm City earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Palm City, Florida grew by 75.3% from 2009 to 2024, reaching $125,476 in 2024. That's an average of about 7.1% per year.
Income Inequality and the Gender Pay Gap in Palm City
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.551 | 0.552 |
| Male Median Income | $123,628 | $60,595 | $69,667 |
| Female Median Income | $63,722 | $50,762 | $56,850 |
| Gender Pay Gap | 48.5% | 16.2% | 18.4% |
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 Palm City, it is 0.534, lower than Florida's 0.551, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 94% more than women's income in Palm City, Florida. Over a 35-year career, a 94% wage gap accumulates to roughly $2,096,710 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Palm City, Florida has widened from about 32% to 48% in 2024. Over that period the gap was widest at 53% in 2022. In dollar terms, the gap has widened by $37,798 since 2009.
Sharply against the trend: the pay gap in Palm City widened by 16.9 points while Florida's narrowed by 2.5 points.
Employment
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.8% | 5.2% |
| Working from Home | 24.7% | 15.7% | 15.0% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 628 people are unemployed in Palm City, Florida.
The average commute time in Palm City is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Palm City, Florida has fallen from 11.3% to 4.9% in 2024. Over that period the rate fell as low as 4.0% in 2019.
Conclusion
Considering all these factors, Palm City, Florida has an overall wealth index grade of B, making it notably better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Palm City, Florida.
How Rich Is Palm City, Florida?
Palm City 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 $125,476, about 68% higher than the Florida average of $74,580.
How fast is household income rising in Palm City, Florida?
Between 2009 and 2024, the median household income in Palm City, Florida rose 75%, from $71,578 to $125,476. Over the same years, income here outpaced Florida as a whole: +75% against +57%.
What was the median household income in Palm City in 2023?
In 2023, the median household income in Palm City, Florida was $116,696, up 5% from $110,737 in 2022. The Florida median that year was $71,864.
What was the median household income in Palm City in 2020?
In 2020, the median household income in Palm City, Florida was $100,208. By 2024 it had risen 25% to $125,476.
How many people earn six figures in Palm City, Florida?
Yes. 26% of adults in Palm City, Florida earn $100,000 or more a year (about 1 in 4), against 12% (about 1 in 9) in Florida. 27% of households have a combined income of $200,000 or more, compared with 11% in Florida.
What is the Gini coefficient in Palm City, Florida?
The Gini coefficient in Palm City is 0.534. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Palm City, Florida?
Since 2009, the income gap between men and women in Palm City, Florida has widened from about 32% to 48% in 2024. Over that period the gap was widest at 53% in 2022. In dollar terms, the gap has widened by $37,798 since 2009.
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