Wealth Index
Among the 5 least wealthy counties in Florida
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 | Taylor County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $44,992 | $71,865 | $78,145 |
| Median Personal Income | $48,404 | $53,537 | $61,726 |
| Average income growth | 3.3% | 5.7% | 5.1% |
| Six-Figure Earners | 4.3% | 10.9% | 13.2% |
The median household income in Taylor County is about 37% lower than in Florida. Income has been growing slower in Taylor County (3.3%/yr) than in Florida (5.7%/yr).
About 4% of adults in Taylor County 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 Taylor County, Florida grew by 25.3% from 2009 to 2023, reaching $44,992 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Taylor County | Gender Pay Gap | Gini Coefficient
| Metric | Taylor County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.618 | 0.566 | 0.570 |
| Male Median Income | $53,007 | $58,426 | $67,746 |
| Female Median Income | $42,380 | $48,893 | $54,793 |
| Gender Pay Gap | 20.0% | 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 Taylor County, it is 0.618, 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 25% more than women's income in Taylor County, Florida. Over a 35-year career, a 25% wage gap accumulates to roughly $371,945 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Taylor County, Florida has narrowed from about 38% to 20% in 2023. In dollar terms, the gap has narrowed by $5,368 since 2009.
Employment
| Metric | Taylor County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 4.8% | 5.2% |
| Working from Home | 6.2% | 13.9% | 13.4% |
| Commute time (minutes) | 13 | 23 | 22 |
Approximately 364 people are unemployed in Taylor County, Florida.
The average commute time in Taylor County is 13 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Taylor County, Florida has fallen from 15.1% to 5.1% in 2023.
Conclusion
Considering all these factors, Taylor County, Florida has an overall wealth index grade of F, making it somewhat worse than Florida, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Taylor County, Florida.
How Rich Is Taylor County, Florida?
Taylor County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $44,992, about 37% lower than the Florida average of $71,865.
What is the current median household income in Taylor County, Florida?
As of 2023, the median household income in Taylor County, Florida is $44,992.
What was the median household income in Taylor County in 2023?
In 2023, the median household income in Taylor County, Florida was $44,992.
What was the median household income in Taylor County in 2020?
In 2020, the median household income in Taylor County, Florida was $39,006.
What is the Gini coefficient in Taylor County, Florida?
The Gini coefficient in Taylor County is 0.618. 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 Taylor County, Florida?
Since 2009, the income gap between men and women in Taylor County, Florida has narrowed from about 38% to 20% in 2023. In dollar terms, the gap has narrowed by $5,368 since 2009.