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 | Pembroke Pines | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,896 | $71,865 | $78,145 |
| Median Personal Income | $80,896 | $71,865 | $78,145 |
| Average income growth | 3.8% | 3.8% | 3.8% |
The median household income in Pembroke Pines is about 13% higher than in Florida. Income has been growing slower in Pembroke Pines (3.8%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Pembroke Pines, Florida grew by 34.4% from 2009 to 2023, reaching $80,896 in 2023. That's an average of about 2.5% per year.
Economic Inequality in Pembroke Pines | Gender Pay Gap | Gini Coefficient
| Metric | Pembroke Pines | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.566 | 0.570 |
| Male Median Income | $58,459 | $58,426 | $67,746 |
| Female Median Income | $56,810 | $48,893 | $54,793 |
| Gender Pay Gap | 2.8% | 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 Pembroke Pines, it is 0.578, higher than Florida's 0.566, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 3% more than women's income in Pembroke Pines, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pembroke Pines, Florida has narrowed from about 17% to 3% in 2023.
Employment
| Metric | Pembroke Pines | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 4.8% | 5.2% |
| Working from Home | 13.0% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
The average commute time in Pembroke Pines is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pembroke Pines, Florida has fallen from 9.0% to 3.9% in 2023.
Conclusion
Considering all these factors, Pembroke Pines, 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 Pembroke Pines, Florida.
How Rich Is Pembroke Pines, Florida?
Pembroke Pines 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 $80,896, about 13% higher than the Florida average of $71,865.
What is the current median household income in Pembroke Pines, Florida?
As of 2023, the median household income in Pembroke Pines, Florida is $80,896.
What was the median household income in Pembroke Pines in 2023?
In 2023, the median household income in Pembroke Pines, Florida was $80,896.
What was the median household income in Pembroke Pines in 2020?
In 2020, the median household income in Pembroke Pines, Florida was $68,300.
What is the Gini coefficient in Pembroke Pines, Florida?
The Gini coefficient in Pembroke Pines is 0.578. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Pembroke Pines, Florida?
Since 2009, the income gap between men and women in Pembroke Pines, Florida has narrowed from about 17% to 3% in 2023.