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 | Wesley Chapel | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $107,624 | $71,865 | $78,145 |
| Median Personal Income | $69,381 | $53,537 | $61,726 |
| Average income growth | 5.6% | 5.7% | 5.1% |
| Six-Figure Earners | 16.2% | 10.9% | 13.2% |
The median household income in Wesley Chapel is about 50% higher than in Florida. Income has been growing slower in Wesley Chapel (5.6%/yr) than in Florida (5.7%/yr).
About 16% of adults in Wesley Chapel 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 Wesley Chapel, Florida grew by 55.5% from 2009 to 2023, reaching $107,624 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Wesley Chapel | Gender Pay Gap | Gini Coefficient
| Metric | Wesley Chapel | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.566 | 0.570 |
| Male Median Income | $75,258 | $58,426 | $67,746 |
| Female Median Income | $63,287 | $48,893 | $54,793 |
| Gender Pay Gap | 15.9% | 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 Wesley Chapel, it is 0.552, 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 19% more than women's income in Wesley Chapel, Florida. Over a 35-year career, a 19% wage gap accumulates to roughly $418,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wesley Chapel, Florida has narrowed from about 22% to 16% in 2023. In dollar terms, the gap has widened by $106 since 2009.
Employment
| Metric | Wesley Chapel | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.8% | 5.2% |
| Working from Home | 26.3% | 13.9% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 1,482 people are unemployed in Wesley Chapel, Florida.
The average commute time in Wesley Chapel is 30 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wesley Chapel, Florida has fallen from 7.4% to 4.1% in 2023.
Conclusion
Considering all these factors, Wesley Chapel, 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 Wesley Chapel, Florida.
How Rich Is Wesley Chapel, Florida?
Wesley Chapel 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 $107,624, about 50% higher than the Florida average of $71,865.
What is the current median household income in Wesley Chapel, Florida?
As of 2023, the median household income in Wesley Chapel, Florida is $107,624.
What was the median household income in Wesley Chapel in 2023?
In 2023, the median household income in Wesley Chapel, Florida was $107,624.
What was the median household income in Wesley Chapel in 2020?
In 2020, the median household income in Wesley Chapel, Florida was $86,130.
What is the Gini coefficient in Wesley Chapel, Florida?
The Gini coefficient in Wesley Chapel is 0.552. 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 Wesley Chapel, Florida?
Since 2009, the income gap between men and women in Wesley Chapel, Florida has narrowed from about 22% to 16% in 2023. In dollar terms, the gap has widened by $106 since 2009.