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 | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,309 | $71,865 | $78,145 |
| Median Personal Income | $57,251 | $53,537 | $61,726 |
| Average income growth | 6.3% | 5.7% | 5.1% |
| Six-Figure Earners | 11.6% | 10.9% | 13.2% |
The median household income in Tarpon Springs is about 4% lower than in Florida. Income has been growing faster in Tarpon Springs (6.3%/yr) than in Florida (5.7%/yr).
About 12% of adults in Tarpon Springs earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Tarpon Springs, Florida grew by 50.5% from 2009 to 2023, reaching $69,309 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Tarpon Springs | Gender Pay Gap | Gini Coefficient
| Metric | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.566 | 0.570 |
| Male Median Income | $60,528 | $58,426 | $67,746 |
| Female Median Income | $52,807 | $48,893 | $54,793 |
| Gender Pay Gap | 12.8% | 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 Tarpon Springs, 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 15% more than women's income in Tarpon Springs, Florida. Over a 35-year career, a 15% wage gap accumulates to roughly $270,235 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tarpon Springs, Florida has narrowed from about 31% to 13% in 2023. In dollar terms, the gap has narrowed by $7,918 since 2009.
Employment
| Metric | Tarpon Springs | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.8% | 5.2% |
| Working from Home | 18.7% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 467 people are unemployed in Tarpon Springs, Florida.
The average commute time in Tarpon Springs is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tarpon Springs, Florida has fallen from 12.3% to 4.8% in 2023.
Conclusion
Considering all these factors, Tarpon Springs, 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 Tarpon Springs, Florida.
How Rich Is Tarpon Springs, Florida?
Tarpon Springs 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 $69,309, about 4% lower than the Florida average of $71,865.
What is the current median household income in Tarpon Springs, Florida?
As of 2023, the median household income in Tarpon Springs, Florida is $69,309.
What was the median household income in Tarpon Springs in 2023?
In 2023, the median household income in Tarpon Springs, Florida was $69,309.
What was the median household income in Tarpon Springs in 2020?
In 2020, the median household income in Tarpon Springs, Florida was $52,334.
What is the Gini coefficient in Tarpon Springs, Florida?
The Gini coefficient in Tarpon Springs 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 Tarpon Springs, Florida?
Since 2009, the income gap between men and women in Tarpon Springs, Florida has narrowed from about 31% to 13% in 2023. In dollar terms, the gap has narrowed by $7,918 since 2009.