Wealth Index
Less wealthy than 82% of states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Florida
- St. Johns County (114% of U.S. avg)
- Monroe County (109% of U.S. avg)
- Nassau County (106% of U.S. avg)
- Union County (59% of U.S. avg)
- Hamilton County (61% of U.S. avg)
- Liberty County (66% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Florida | US Average |
|---|---|---|
| Median Household Income | $71,865 | $78,145 |
| Median Personal Income | $53,537 | $61,726 |
| Average income growth | 5.7% | 5.1% |
| Six-Figure Earners | 10.9% | 13.2% |
The median household income in Florida is about 8% lower than in US. Income has been growing faster in Florida (5.7%/yr) than in US (5.1%/yr).
About 11% of adults in Florida earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Florida grew by 51.3% from 2009 to 2023, reaching $71,865 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Florida | Gender Pay Gap | Gini Coefficient
| Metric | Florida | US Average |
|---|---|---|
| Gini Coefficient | 0.566 | 0.570 |
| Male Median Income | $58,426 | $67,746 |
| Female Median Income | $48,893 | $54,793 |
| Gender Pay Gap | 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 Florida, it is 0.566, about the same as US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 19% more than women's income in Florida. Over a 35-year career, a 19% wage gap accumulates to roughly $333,655 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Florida has narrowed from about 19% to 16% in 2023. In dollar terms, the gap has widened by $1,759 since 2009.
Employment
| Metric | Florida | US Average |
|---|---|---|
| Unemployment Rate | 4.8% | 5.2% |
| Working from Home | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 22 |
Approximately 515,842 people are unemployed in Florida.
The average commute time in Florida is 23 minutes, longer than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Florida has fallen from 10.2% to 4.8% in 2023.
Conclusion
Considering all these factors, Florida has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Florida.
How Rich Is Florida?
Florida 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 $71,865, about 8% lower than the US average of $78,145.
What is the current median household income in Florida?
As of 2023, the median household income in Florida is $71,865.
What was the median household income in Florida in 2023?
In 2023, the median household income in Florida was $71,865.
What was the median household income in Florida in 2020?
In 2020, the median household income in Florida was $57,982.
What is the Gini coefficient in Florida?
The Gini coefficient in Florida is 0.566. 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 Florida?
Since 2009, the income gap between men and women in Florida has narrowed from about 19% to 16% in 2023. In dollar terms, the gap has widened by $1,759 since 2009.