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 Orange | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,335 | $71,865 | $78,145 |
| Median Personal Income | $55,213 | $53,537 | $61,726 |
| Average income growth | 6.3% | 5.7% | 5.1% |
| Six-Figure Earners | 8.3% | 10.9% | 13.2% |
The median household income in Port Orange is about 6% lower than in Florida. Income has been growing faster in Port Orange (6.3%/yr) than in Florida (5.7%/yr).
About 8% of adults in Port Orange 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 Orange, Florida grew by 70.9% from 2009 to 2023, reaching $67,335 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Port Orange | Gender Pay Gap | Gini Coefficient
| Metric | Port Orange | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.566 | 0.570 |
| Male Median Income | $61,227 | $58,426 | $67,746 |
| Female Median Income | $47,093 | $48,893 | $54,793 |
| Gender Pay Gap | 23.1% | 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 Port Orange, it is 0.540, 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 30% more than women's income in Port Orange, Florida. Over a 35-year career, a 30% wage gap accumulates to roughly $494,690 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 Orange, Florida has widened from about 12% to 23% in 2023. In dollar terms, the gap has widened by $9,657 since 2009.
Employment
| Metric | Port Orange | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 4.8% | 5.2% |
| Working from Home | 11.9% | 13.9% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 863 people are unemployed in Port Orange, Florida.
The average commute time in Port Orange is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Port Orange, Florida has fallen from 8.1% to 3.6% in 2023.
Conclusion
Considering all these factors, Port Orange, 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 Port Orange, Florida.
How Rich Is Port Orange, Florida?
Port Orange 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 $67,335, about 6% lower than the Florida average of $71,865.
What is the current median household income in Port Orange, Florida?
As of 2023, the median household income in Port Orange, Florida is $67,335.
What was the median household income in Port Orange in 2023?
In 2023, the median household income in Port Orange, Florida was $67,335.
What was the median household income in Port Orange in 2020?
In 2020, the median household income in Port Orange, Florida was $54,212.
What is the Gini coefficient in Port Orange, Florida?
The Gini coefficient in Port Orange is 0.540. 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 Orange, Florida?
Since 2009, the income gap between men and women in Port Orange, Florida has widened from about 12% to 23% in 2023. In dollar terms, the gap has widened by $9,657 since 2009.