Wealth Index
Wealthier than 83% of 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 | Walton County | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,189 | $71,865 | $78,145 |
| Median Personal Income | $58,173 | $53,537 | $61,726 |
| Average income growth | 7.8% | 5.7% | 5.1% |
| Six-Figure Earners | 13.4% | 10.9% | 13.2% |
The median household income in Walton County is about 10% higher than in Florida. Income has been growing faster in Walton County (7.8%/yr) than in Florida (5.7%/yr).
About 13% of adults in Walton County earn six figures ($100,000 or more) a year, higher than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Walton County, Florida grew by 70.7% from 2009 to 2023, reaching $79,189 in 2023. That's an average of about 7.8% per year.
Economic Inequality in Walton County | Gender Pay Gap | Gini Coefficient
| Metric | Walton County | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.559 | 0.566 | 0.570 |
| Male Median Income | $61,563 | $58,426 | $67,746 |
| Female Median Income | $54,194 | $48,893 | $54,793 |
| Gender Pay Gap | 12.0% | 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 Walton County, it is 0.559, 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 14% more than women's income in Walton County, Florida. Over a 35-year career, a 14% wage gap accumulates to roughly $257,915 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Walton County, Florida has narrowed from about 21% to 12% in 2023. In dollar terms, the gap has narrowed by $1,386 since 2009.
Employment
| Metric | Walton County | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.8% | 5.2% |
| Working from Home | 14.8% | 13.9% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 2,005 people are unemployed in Walton County, Florida.
The average commute time in Walton County is 25 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Walton County, Florida has fallen from 9.9% to 5.2% in 2023.
Conclusion
Considering all these factors, Walton County, 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 Walton County, Florida.
How Rich Is Walton County, Florida?
Walton County 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 $79,189, about 10% higher than the Florida average of $71,865.
What is the current median household income in Walton County, Florida?
As of 2023, the median household income in Walton County, Florida is $79,189.
What was the median household income in Walton County in 2023?
In 2023, the median household income in Walton County, Florida was $79,189.
What was the median household income in Walton County in 2020?
In 2020, the median household income in Walton County, Florida was $66,035.
What is the Gini coefficient in Walton County, Florida?
The Gini coefficient in Walton County is 0.559. 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 Walton County, Florida?
Since 2009, the income gap between men and women in Walton County, Florida has narrowed from about 21% to 12% in 2023. In dollar terms, the gap has narrowed by $1,386 since 2009.