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 | Port Charlotte | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,686 | $71,865 | $78,145 |
| Median Personal Income | $48,310 | $53,537 | $61,726 |
| Average income growth | 6.7% | 5.7% | 5.1% |
| Six-Figure Earners | 5.6% | 10.9% | 13.2% |
The median household income in Port Charlotte is about 16% lower than in Florida. Income has been growing faster in Port Charlotte (6.7%/yr) than in Florida (5.7%/yr).
About 6% of adults in Port Charlotte 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 Port Charlotte, Florida grew by 48.5% from 2009 to 2023, reaching $60,686 in 2023. That's an average of about 6.7% per year.
Economic Inequality in Port Charlotte | Gender Pay Gap | Gini Coefficient
| Metric | Port Charlotte | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.566 | 0.570 |
| Male Median Income | $51,654 | $58,426 | $67,746 |
| Female Median Income | $44,129 | $48,893 | $54,793 |
| Gender Pay Gap | 14.6% | 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 Port Charlotte, it is 0.522, 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 17% more than women's income in Port Charlotte, Florida. Over a 35-year career, a 17% wage gap accumulates to roughly $263,375 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Port Charlotte, Florida has narrowed from about 16% to 15% in 2023. In dollar terms, the gap has widened by $1,123 since 2009.
Employment
| Metric | Port Charlotte | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.0% | 4.8% | 5.2% |
| Working from Home | 10.8% | 13.9% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 1,712 people are unemployed in Port Charlotte, Florida.
The average commute time in Port Charlotte is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Port Charlotte, Florida has fallen from 14.2% to 7.0% in 2023.
Conclusion
Considering all these factors, Port Charlotte, 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 Port Charlotte, Florida.
How Rich Is Port Charlotte, Florida?
Port Charlotte 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 $60,686, about 16% lower than the Florida average of $71,865.
What is the current median household income in Port Charlotte, Florida?
As of 2023, the median household income in Port Charlotte, Florida is $60,686.
What was the median household income in Port Charlotte in 2023?
In 2023, the median household income in Port Charlotte, Florida was $60,686.
What was the median household income in Port Charlotte in 2020?
In 2020, the median household income in Port Charlotte, Florida was $50,773.
What is the Gini coefficient in Port Charlotte, Florida?
The Gini coefficient in Port Charlotte is 0.522. 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 Port Charlotte, Florida?
Since 2009, the income gap between men and women in Port Charlotte, Florida has narrowed from about 16% to 15% in 2023. In dollar terms, the gap has widened by $1,123 since 2009.