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 | Polk County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,173 | $71,865 | $78,145 |
| Median Personal Income | $47,614 | $53,537 | $61,726 |
| Average income growth | 5.5% | 5.7% | 5.1% |
| Six-Figure Earners | 6.7% | 10.9% | 13.2% |
The median household income in Polk County is about 11% lower than in Florida. Income has been growing slower in Polk County (5.5%/yr) than in Florida (5.7%/yr).
About 7% of adults in Polk 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 Polk County, Florida grew by 45.5% from 2009 to 2023, reaching $64,173 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Polk County | Gender Pay Gap | Gini Coefficient
| Metric | Polk County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.566 | 0.570 |
| Male Median Income | $51,613 | $58,426 | $67,746 |
| Female Median Income | $43,276 | $48,893 | $54,793 |
| Gender Pay Gap | 16.2% | 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 Polk County, it is 0.552, 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 19% more than women's income in Polk County, Florida. Over a 35-year career, a 19% wage gap accumulates to roughly $291,795 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Polk County, Florida has narrowed from about 18% to 16% in 2023. In dollar terms, the gap has widened by $1,464 since 2009.
Employment
| Metric | Polk County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 10.8% | 13.9% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 15,308 people are unemployed in Polk County, Florida.
The average commute time in Polk County is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Polk County, Florida has fallen from 10.6% to 4.4% in 2023.
Conclusion
Considering all these factors, Polk County, Florida has an overall wealth index grade of D, making it about on par with Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Polk County, Florida.
How Rich Is Polk County, Florida?
Polk 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 $64,173, about 11% lower than the Florida average of $71,865.
What is the current median household income in Polk County, Florida?
As of 2023, the median household income in Polk County, Florida is $64,173.
What was the median household income in Polk County in 2023?
In 2023, the median household income in Polk County, Florida was $64,173.
What was the median household income in Polk County in 2020?
In 2020, the median household income in Polk County, Florida was $51,648.
What is the Gini coefficient in Polk County, Florida?
The Gini coefficient in Polk County is 0.552. 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 Polk County, Florida?
Since 2009, the income gap between men and women in Polk County, Florida has narrowed from about 18% to 16% in 2023. In dollar terms, the gap has widened by $1,464 since 2009.