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 | Wekiwa Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $108,476 | $71,865 | $78,145 |
| Median Personal Income | $76,594 | $53,537 | $61,726 |
| Average income growth | 5.3% | 5.7% | 5.1% |
| Six-Figure Earners | 19.6% | 10.9% | 13.2% |
The median household income in Wekiwa Springs is about 51% higher than in Florida. Income has been growing slower in Wekiwa Springs (5.3%/yr) than in Florida (5.7%/yr).
About 20% of adults in Wekiwa Springs 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 Wekiwa Springs, Florida grew by 45.4% from 2009 to 2023, reaching $108,476 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Wekiwa Springs | Gender Pay Gap | Gini Coefficient
| Metric | Wekiwa Springs | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.566 | 0.570 |
| Male Median Income | $89,283 | $58,426 | $67,746 |
| Female Median Income | $65,371 | $48,893 | $54,793 |
| Gender Pay Gap | 26.8% | 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 Wekiwa Springs, it is 0.556, 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 37% more than women's income in Wekiwa Springs, Florida. Over a 35-year career, a 37% wage gap accumulates to roughly $836,920 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wekiwa Springs, Florida has widened from about 26% to 27% in 2023. In dollar terms, the gap has widened by $7,435 since 2009.
Employment
| Metric | Wekiwa Springs | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.8% | 5.2% |
| Working from Home | 23.6% | 13.9% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 476 people are unemployed in Wekiwa Springs, Florida.
The average commute time in Wekiwa Springs is 22 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wekiwa Springs, Florida has fallen from 8.1% to 4.2% in 2023.
Conclusion
Considering all these factors, Wekiwa Springs, Florida has an overall wealth index grade of B, making it notably better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Wekiwa Springs, Florida.
How Rich Is Wekiwa Springs, Florida?
Wekiwa Springs 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 $108,476, about 51% higher than the Florida average of $71,865.
What is the current median household income in Wekiwa Springs, Florida?
As of 2023, the median household income in Wekiwa Springs, Florida is $108,476.
What was the median household income in Wekiwa Springs in 2023?
In 2023, the median household income in Wekiwa Springs, Florida was $108,476.
What was the median household income in Wekiwa Springs in 2020?
In 2020, the median household income in Wekiwa Springs, Florida was $85,737.
What is the Gini coefficient in Wekiwa Springs, Florida?
The Gini coefficient in Wekiwa Springs is 0.556. 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 Wekiwa Springs, Florida?
Since 2009, the income gap between men and women in Wekiwa Springs, Florida has widened from about 26% to 27% in 2023. In dollar terms, the gap has widened by $7,435 since 2009.