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 | Princeton | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,116 | $71,865 | $78,145 |
| Median Personal Income | $82,116 | $71,865 | $78,145 |
| Average income growth | 9.3% | 9.3% | 9.3% |
The median household income in Princeton is about 14% higher than in Florida. Income has been growing faster in Princeton (9.3%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Princeton, Florida grew by 90.0% from 2009 to 2023, reaching $82,116 in 2023. That's an average of about 6.4% per year.
Economic Inequality in Princeton | Gender Pay Gap | Gini Coefficient
| Metric | Princeton | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.566 | 0.570 |
| Male Median Income | $56,738 | $58,426 | $67,746 |
| Female Median Income | $47,868 | $48,893 | $54,793 |
| Gender Pay Gap | 15.6% | 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 Princeton, it is 0.562, about the same as Florida's 0.566, so income here is about as evenly distributed as 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 Princeton, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Princeton, Florida has widened from about 13% to 16% in 2023.
Employment
| Metric | Princeton | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.8% | 5.2% |
| Working from Home | 13.2% | 13.9% | 13.4% |
| Commute time (minutes) | 35 | 23 | 22 |
The average commute time in Princeton is 35 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Princeton, Florida has fallen from 12.6% to 4.3% in 2023.
Conclusion
Considering all these factors, Princeton, 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 Princeton, Florida.
How Rich Is Princeton, Florida?
Princeton 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 $82,116, about 14% higher than the Florida average of $71,865.
What is the current median household income in Princeton, Florida?
As of 2023, the median household income in Princeton, Florida is $82,116.
What was the median household income in Princeton in 2023?
In 2023, the median household income in Princeton, Florida was $82,116.
What was the median household income in Princeton in 2020?
In 2020, the median household income in Princeton, Florida was $64,495.
What is the Gini coefficient in Princeton, Florida?
The Gini coefficient in Princeton is 0.562. 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 Princeton, Florida?
Since 2009, the income gap between men and women in Princeton, Florida has widened from about 13% to 16% in 2023.