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 | University | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $37,344 | $71,865 | $78,145 |
| Median Personal Income | $37,840 | $53,537 | $61,726 |
| Average income growth | 6.1% | 5.7% | 5.1% |
| Six-Figure Earners | 1.2% | 10.9% | 13.2% |
The median household income in University is about 48% lower than in Florida. Income has been growing faster in University (6.1%/yr) than in Florida (5.7%/yr).
About 1% of adults in University 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 University, Florida grew by 50.0% from 2009 to 2023, reaching $37,344 in 2023. That's an average of about 6.1% per year.
Economic Inequality in University | Gender Pay Gap | Gini Coefficient
| Metric | University | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.566 | 0.570 |
| Male Median Income | $38,829 | $58,426 | $67,746 |
| Female Median Income | $36,803 | $48,893 | $54,793 |
| Gender Pay Gap | 5.2% | 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 University, it is 0.545, 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.
Men's income is about 6% more than women's income in University, Florida. Over a 35-year career, a 6% wage gap accumulates to roughly $70,910 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in University, Florida has narrowed from about -8% to 5% in 2023. In dollar terms, the gap has widened by $4,081 since 2009.
Employment
| Metric | University | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 4.8% | 5.2% |
| Working from Home | 9.3% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,389 people are unemployed in University, Florida.
The average commute time in University is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in University, Florida has fallen from 20.0% to 5.7% in 2023.
Conclusion
Considering all these factors, University, 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 University, Florida.
How Wealthy Is University, Florida?
University 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 $37,344, about 48% lower than the Florida average of $71,865.
What is the current median household income in University, Florida?
As of 2023, the median household income in University, Florida is $37,344.
What was the median household income in University in 2023?
In 2023, the median household income in University, Florida was $37,344.
What was the median household income in University in 2020?
In 2020, the median household income in University, Florida was $29,521.
What is the Gini coefficient in University, Florida?
The Gini coefficient in University is 0.545. 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 University, Florida?
Since 2009, the income gap between men and women in University, Florida has narrowed from about -8% to 5% in 2023. In dollar terms, the gap has widened by $4,081 since 2009.