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 | South Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,618 | $71,865 | $78,145 |
| Median Personal Income | $45,438 | $53,537 | $61,726 |
| Average income growth | 6.2% | 5.7% | 5.1% |
| Six-Figure Earners | 4.6% | 10.9% | 13.2% |
The median household income in South Bradenton is about 32% lower than in Florida. Income has been growing faster in South Bradenton (6.2%/yr) than in Florida (5.7%/yr).
About 5% of adults in South Bradenton 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 South Bradenton, Florida grew by 45.8% from 2009 to 2023, reaching $48,618 in 2023. That's an average of about 6.2% per year.
Economic Inequality in South Bradenton | Gender Pay Gap | Gini Coefficient
| Metric | South Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.488 | 0.566 | 0.570 |
| Male Median Income | $47,905 | $58,426 | $67,746 |
| Female Median Income | $41,326 | $48,893 | $54,793 |
| Gender Pay Gap | 13.7% | 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 South Bradenton, it is 0.488, 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 16% more than women's income in South Bradenton, Florida. Over a 35-year career, a 16% 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 South Bradenton, Florida has widened from about 12% to 14% in 2023. In dollar terms, the gap has widened by $2,769 since 2009.
Employment
| Metric | South Bradenton | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.8% | 4.8% | 5.2% |
| Working from Home | 4.3% | 13.9% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 864 people are unemployed in South Bradenton, Florida.
The average commute time in South Bradenton is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in South Bradenton, Florida has fallen from 14.1% to 6.8% in 2023.
Conclusion
Considering all these factors, South Bradenton, Florida has an overall wealth index grade of D, making it somewhat worse than Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in South Bradenton, Florida.
How Rich Is South Bradenton, Florida?
South Bradenton 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 $48,618, about 32% lower than the Florida average of $71,865.
What is the current median household income in South Bradenton, Florida?
As of 2023, the median household income in South Bradenton, Florida is $48,618.
What was the median household income in South Bradenton in 2023?
In 2023, the median household income in South Bradenton, Florida was $48,618.
What was the median household income in South Bradenton in 2020?
In 2020, the median household income in South Bradenton, Florida was $39,485.
What is the Gini coefficient in South Bradenton, Florida?
The Gini coefficient in South Bradenton is 0.488. 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 South Bradenton, Florida?
Since 2009, the income gap between men and women in South Bradenton, Florida has widened from about 12% to 14% in 2023. In dollar terms, the gap has widened by $2,769 since 2009.