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 | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,346 | $71,865 | $78,145 |
| Median Personal Income | $51,115 | $53,537 | $61,726 |
| Average income growth | 1.6% | 5.7% | 5.1% |
| Six-Figure Earners | 9.3% | 10.9% | 13.2% |
The median household income in Tavernier is about 26% lower than in Florida. Income has been growing slower in Tavernier (1.6%/yr) than in Florida (5.7%/yr).
About 9% of adults in Tavernier 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 Tavernier, Florida grew by 0.3% from 2009 to 2023, reaching $53,346 in 2023. That's an average of about 1.6% per year.
Economic Inequality in Tavernier | Gender Pay Gap | Gini Coefficient
| Metric | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.566 | 0.570 |
| Male Median Income | $48,403 | $58,426 | $67,746 |
| Female Median Income | $54,317 | $48,893 | $54,793 |
| Gender Pay Gap | -12.2% | 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 Tavernier, it is 0.537, 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.
Women's income is about 12% more than men's income in Tavernier, Florida. Over a 35-year career, a 12% wage gap accumulates to roughly $206,990 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tavernier, Florida has narrowed from about 25% to -12% in 2023. In dollar terms, the gap has narrowed by $19,048 since 2009.
Employment
| Metric | Tavernier | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.8% | 5.2% |
| Working from Home | 10.9% | 13.9% | 13.4% |
| Commute time (minutes) | 16 | 23 | 22 |
Approximately 15 people are unemployed in Tavernier, Florida.
The average commute time in Tavernier is 16 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tavernier, Florida has fallen from 7.8% to 4.1% in 2023.
Conclusion
Considering all these factors, Tavernier, 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 Tavernier, Florida.
How Rich Is Tavernier, Florida?
Tavernier 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 $53,346, about 26% lower than the Florida average of $71,865.
What is the current median household income in Tavernier, Florida?
As of 2023, the median household income in Tavernier, Florida is $53,346.
What was the median household income in Tavernier in 2023?
In 2023, the median household income in Tavernier, Florida was $53,346.
What was the median household income in Tavernier in 2020?
In 2020, the median household income in Tavernier, Florida was $47,043.
What is the Gini coefficient in Tavernier, Florida?
The Gini coefficient in Tavernier is 0.537. 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 Tavernier, Florida?
Since 2009, the income gap between men and women in Tavernier, Florida has narrowed from about 25% to -12% in 2023. In dollar terms, the gap has narrowed by $19,048 since 2009.