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 | Wakulla County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,256 | $71,865 | $78,145 |
| Median Personal Income | $54,297 | $53,537 | $61,726 |
| Average income growth | 4.5% | 5.7% | 5.1% |
| Six-Figure Earners | 6.6% | 10.9% | 13.2% |
The median household income in Wakulla County is about 2% higher than in Florida. Income has been growing slower in Wakulla County (4.5%/yr) than in Florida (5.7%/yr).
About 7% of adults in Wakulla 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 Wakulla County, Florida grew by 39.8% from 2009 to 2023, reaching $73,256 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Wakulla County | Gender Pay Gap | Gini Coefficient
| Metric | Wakulla County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.566 | 0.570 |
| Male Median Income | $57,552 | $58,426 | $67,746 |
| Female Median Income | $50,029 | $48,893 | $54,793 |
| Gender Pay Gap | 13.1% | 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 Wakulla County, it is 0.570, about the same as Florida's 0.566, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 15% more than women's income in Wakulla County, Florida. Over a 35-year career, a 15% wage gap accumulates to roughly $263,305 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wakulla County, Florida has narrowed from about 18% to 13% in 2023. In dollar terms, the gap has narrowed by $190 since 2009.
Employment
| Metric | Wakulla County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 4.8% | 5.2% |
| Working from Home | 7.0% | 13.9% | 13.4% |
| Commute time (minutes) | 31 | 23 | 22 |
Approximately 513 people are unemployed in Wakulla County, Florida.
The average commute time in Wakulla County is 31 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wakulla County, Florida has fallen from 9.8% to 3.1% in 2023.
Conclusion
Considering all these factors, Wakulla County, 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 Wakulla County, Florida.
How Rich Is Wakulla County, Florida?
Wakulla County 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 $73,256, about 2% higher than the Florida average of $71,865.
What is the current median household income in Wakulla County, Florida?
As of 2023, the median household income in Wakulla County, Florida is $73,256.
What was the median household income in Wakulla County in 2023?
In 2023, the median household income in Wakulla County, Florida was $73,256.
What was the median household income in Wakulla County in 2020?
In 2020, the median household income in Wakulla County, Florida was $68,722.
What is the Gini coefficient in Wakulla County, Florida?
The Gini coefficient in Wakulla County is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Wakulla County, Florida?
Since 2009, the income gap between men and women in Wakulla County, Florida has narrowed from about 18% to 13% in 2023. In dollar terms, the gap has narrowed by $190 since 2009.