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 | Rockledge | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $84,736 | $71,865 | $78,145 |
| Median Personal Income | $56,116 | $53,537 | $61,726 |
| Average income growth | 5.8% | 5.7% | 5.1% |
| Six-Figure Earners | 11.1% | 10.9% | 13.2% |
The median household income in Rockledge is about 18% higher than in Florida. Income has been growing faster in Rockledge (5.8%/yr) than in Florida (5.7%/yr).
About 11% of adults in Rockledge earn six figures ($100,000 or more) a year, about the same as the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Rockledge, Florida grew by 44.7% from 2009 to 2023, reaching $84,736 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Rockledge | Gender Pay Gap | Gini Coefficient
| Metric | Rockledge | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.566 | 0.570 |
| Male Median Income | $59,222 | $58,426 | $67,746 |
| Female Median Income | $52,643 | $48,893 | $54,793 |
| Gender Pay Gap | 11.1% | 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 Rockledge, it is 0.538, 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 12% more than women's income in Rockledge, Florida. Over a 35-year career, a 12% wage gap accumulates to roughly $230,265 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rockledge, Florida has narrowed from about 33% to 11% in 2023. In dollar terms, the gap has narrowed by $11,367 since 2009.
Employment
| Metric | Rockledge | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 4.8% | 5.2% |
| Working from Home | 11.6% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 626 people are unemployed in Rockledge, Florida.
The average commute time in Rockledge is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rockledge, Florida has fallen from 9.8% to 4.5% in 2023.
Conclusion
Considering all these factors, Rockledge, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Rockledge, Florida.
How Rich Is Rockledge, Florida?
Rockledge has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $84,736, about 18% higher than the Florida average of $71,865.
What is the current median household income in Rockledge, Florida?
As of 2023, the median household income in Rockledge, Florida is $84,736.
What was the median household income in Rockledge in 2023?
In 2023, the median household income in Rockledge, Florida was $84,736.
What was the median household income in Rockledge in 2020?
In 2020, the median household income in Rockledge, Florida was $70,960.
What is the Gini coefficient in Rockledge, Florida?
The Gini coefficient in Rockledge is 0.538. 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 Rockledge, Florida?
Since 2009, the income gap between men and women in Rockledge, Florida has narrowed from about 33% to 11% in 2023. In dollar terms, the gap has narrowed by $11,367 since 2009.