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 | Pasco County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,659 | $71,865 | $78,145 |
| Median Personal Income | $56,701 | $53,537 | $61,726 |
| Average income growth | 5.6% | 5.7% | 5.1% |
| Six-Figure Earners | 9.9% | 10.9% | 13.2% |
The median household income in Pasco County is about 6% lower than in Florida. Income has been growing slower in Pasco County (5.6%/yr) than in Florida (5.7%/yr).
About 10% of adults in Pasco 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 Pasco County, Florida grew by 54.9% from 2009 to 2023, reaching $67,659 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Pasco County | Gender Pay Gap | Gini Coefficient
| Metric | Pasco County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.551 | 0.566 | 0.570 |
| Male Median Income | $62,829 | $58,426 | $67,746 |
| Female Median Income | $51,153 | $48,893 | $54,793 |
| Gender Pay Gap | 18.6% | 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 Pasco County, it is 0.551, 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 23% more than women's income in Pasco County, Florida. Over a 35-year career, a 23% wage gap accumulates to roughly $408,660 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Pasco County, Florida has stayed about the same since 2009, at around 19%. In dollar terms, the gap has widened by $3,618 since 2009.
Employment
| Metric | Pasco County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.8% | 5.2% |
| Working from Home | 18.4% | 13.9% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 13,422 people are unemployed in Pasco County, Florida.
The average commute time in Pasco County is 28 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pasco County, Florida has fallen from 11.1% to 4.9% in 2023.
Conclusion
Considering all these factors, Pasco County, Florida has an overall wealth index grade of C, making it about on par with Florida, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Pasco County, Florida.
How Rich Is Pasco County, Florida?
Pasco County 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 $67,659, about 6% lower than the Florida average of $71,865.
What is the current median household income in Pasco County, Florida?
As of 2023, the median household income in Pasco County, Florida is $67,659.
What was the median household income in Pasco County in 2023?
In 2023, the median household income in Pasco County, Florida was $67,659.
What was the median household income in Pasco County in 2020?
In 2020, the median household income in Pasco County, Florida was $53,682.
What is the Gini coefficient in Pasco County, Florida?
The Gini coefficient in Pasco County is 0.551. 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 Pasco County, Florida?
The income gap between men and women in Pasco County, Florida has stayed about the same since 2009, at around 19%. In dollar terms, the gap has widened by $3,618 since 2009.