Wealth Index
Least wealthy county 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 | Union County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,699 | $71,865 | $78,145 |
| Median Personal Income | $49,458 | $53,537 | $61,726 |
| Average income growth | 8.1% | 5.7% | 5.1% |
| Six-Figure Earners | 3.7% | 10.9% | 13.2% |
The median household income in Union County is about 9% lower than in Florida. Income has been growing faster in Union County (8.1%/yr) than in Florida (5.7%/yr).
About 4% of adults in Union 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 Union County, Florida grew by 61.8% from 2009 to 2023, reaching $65,699 in 2023. That's an average of about 8.1% per year.
Economic Inequality in Union County | Gender Pay Gap | Gini Coefficient
| Metric | Union County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.695 | 0.566 | 0.570 |
| Male Median Income | $52,082 | $58,426 | $67,746 |
| Female Median Income | $47,142 | $48,893 | $54,793 |
| Gender Pay Gap | 9.5% | 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 Union County, it is 0.695, 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 10% more than women's income in Union County, Florida. Over a 35-year career, a 10% wage gap accumulates to roughly $172,900 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Union County, Florida has narrowed from about 10% to 9% in 2023. In dollar terms, the gap has widened by $1,551 since 2009.
Employment
| Metric | Union County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 4.8% | 5.2% |
| Working from Home | 6.6% | 13.9% | 13.4% |
| Commute time (minutes) | 32 | 23 | 22 |
Approximately 149 people are unemployed in Union County, Florida.
The average commute time in Union County is 32 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Union County, Florida has fallen from 10.5% to 3.3% in 2023.
Conclusion
Considering all these factors, Union County, Florida has an overall wealth index grade of F, making it worse than Florida, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Union County, Florida.
How Wealthy Is Union County, Florida?
Union 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 $65,699, about 9% lower than the Florida average of $71,865.
What is the current median household income in Union County, Florida?
As of 2023, the median household income in Union County, Florida is $65,699.
What was the median household income in Union County in 2023?
In 2023, the median household income in Union County, Florida was $65,699.
What was the median household income in Union County in 2020?
In 2020, the median household income in Union County, Florida was $53,538.
What is the Gini coefficient in Union County, Florida?
The Gini coefficient in Union County is 0.695. 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 Union County, Florida?
Since 2009, the income gap between men and women in Union County, Florida has narrowed from about 10% to 9% in 2023. In dollar terms, the gap has widened by $1,551 since 2009.