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 | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,290 | $71,865 | $78,145 |
| Median Personal Income | $49,788 | $53,537 | $61,726 |
| Average income growth | 6.0% | 5.7% | 5.1% |
| Six-Figure Earners | 6.5% | 10.9% | 13.2% |
The median household income in Pinellas Park is about 12% lower than in Florida. Income has been growing faster in Pinellas Park (6.0%/yr) than in Florida (5.7%/yr).
About 7% of adults in Pinellas Park 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 Pinellas Park, Florida grew by 46.4% from 2009 to 2023, reaching $63,290 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Pinellas Park | Gender Pay Gap | Gini Coefficient
| Metric | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.566 | 0.570 |
| Male Median Income | $52,729 | $58,426 | $67,746 |
| Female Median Income | $47,412 | $48,893 | $54,793 |
| Gender Pay Gap | 10.1% | 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 Pinellas Park, it is 0.521, 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 11% more than women's income in Pinellas Park, Florida. Over a 35-year career, a 11% wage gap accumulates to roughly $186,095 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pinellas Park, Florida has widened from about 9% to 10% in 2023. In dollar terms, the gap has widened by $2,218 since 2009.
Employment
| Metric | Pinellas Park | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.8% | 5.2% |
| Working from Home | 11.0% | 13.9% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 1,289 people are unemployed in Pinellas Park, Florida.
The average commute time in Pinellas Park is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pinellas Park, Florida has fallen from 10.1% to 4.9% in 2023.
Conclusion
Considering all these factors, Pinellas Park, 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 Pinellas Park, Florida.
How Rich Is Pinellas Park, Florida?
Pinellas Park 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 $63,290, about 12% lower than the Florida average of $71,865.
What is the current median household income in Pinellas Park, Florida?
As of 2023, the median household income in Pinellas Park, Florida is $63,290.
What was the median household income in Pinellas Park in 2023?
In 2023, the median household income in Pinellas Park, Florida was $63,290.
What was the median household income in Pinellas Park in 2020?
In 2020, the median household income in Pinellas Park, Florida was $50,700.
What is the Gini coefficient in Pinellas Park, Florida?
The Gini coefficient in Pinellas Park is 0.521. 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 Pinellas Park, Florida?
Since 2009, the income gap between men and women in Pinellas Park, Florida has widened from about 9% to 10% in 2023. In dollar terms, the gap has widened by $2,218 since 2009.