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 | Tamiami | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,368 | $71,865 | $78,145 |
| Median Personal Income | $78,368 | $71,865 | $78,145 |
| Average income growth | 7.1% | 7.1% | 7.1% |
The median household income in Tamiami is about 9% higher than in Florida. Income has been growing faster in Tamiami (7.1%/yr) than in Florida (5.7%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Tamiami, Florida grew by 55.6% from 2009 to 2023, reaching $78,368 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Tamiami | Gender Pay Gap | Gini Coefficient
| Metric | Tamiami | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.566 | 0.570 |
| Male Median Income | $46,941 | $58,426 | $67,746 |
| Female Median Income | $44,113 | $48,893 | $54,793 |
| Gender Pay Gap | 6.0% | 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 Tamiami, it is 0.583, higher than Florida's 0.566, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 6% more than women's income in Tamiami, Florida.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tamiami, Florida has narrowed from about 12% to 6% in 2023.
Employment
| Metric | Tamiami | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 4.8% | 5.2% |
| Working from Home | 8.5% | 13.9% | 13.4% |
| Commute time (minutes) | 31 | 23 | 22 |
The average commute time in Tamiami is 31 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tamiami, Florida has fallen from 7.6% to 3.5% in 2023.
Conclusion
Considering all these factors, Tamiami, 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 Tamiami, Florida.
How Rich Is Tamiami, Florida?
Tamiami 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 $78,368, about 9% higher than the Florida average of $71,865.
What is the current median household income in Tamiami, Florida?
As of 2023, the median household income in Tamiami, Florida is $78,368.
What was the median household income in Tamiami in 2023?
In 2023, the median household income in Tamiami, Florida was $78,368.
What was the median household income in Tamiami in 2020?
In 2020, the median household income in Tamiami, Florida was $62,861.
What is the Gini coefficient in Tamiami, Florida?
The Gini coefficient in Tamiami is 0.583. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Tamiami, Florida?
Since 2009, the income gap between men and women in Tamiami, Florida has narrowed from about 12% to 6% in 2023.