West Palm Beach, Florida Income Statistics
West Palm Beach Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
West Palm Beach Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | West Palm Beach | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,047 | $74,580 | $80,455 |
| Median Personal Income | $51,308 | $52,322 | $60,758 |
| Average Yearly Income Growth | 5.7% | 5.4% | 4.8% |
| Six-Figure Earners | 13.3% | 11.6% | 13.9% |
| $200k+ Households | 10.5% | 11.0% | 13.2% |
The median household income in West Palm Beach is about 3% lower than in Florida. Income has been growing faster in West Palm Beach (5.7%/yr) than in Florida (5.4%/yr).
About 13% of adults in West Palm Beach earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in West Palm Beach, Florida grew by 56.1% from 2009 to 2024, reaching $72,047 in 2024. That's an average of about 5.7% per year.
Income Inequality and the Gender Pay Gap in West Palm Beach
| Metric | West Palm Beach | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.544 | 0.551 | 0.552 |
| Male Median Income | $56,678 | $60,595 | $69,667 |
| Female Median Income | $51,974 | $50,762 | $56,850 |
| Gender Pay Gap | 8.3% | 16.2% | 18.4% |
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 West Palm Beach, it is 0.544, lower than Florida's 0.551, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 9% more than women's income in West Palm Beach, Florida. Over a 35-year career, a 9% wage gap accumulates to roughly $164,640 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in West Palm Beach, Florida has widened from about 5% to 8% in 2024. Over that period the gap was widest at 12% in 2011, and was narrowest at 5% in 2017. In dollar terms, the gap has widened by $2,692 since 2009.
Sharply against the trend: the pay gap in West Palm Beach widened by 3.1 points while Florida's narrowed by 2.5 points.
Employment
| Metric | West Palm Beach | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.8% | 5.2% |
| Working from Home | 13.4% | 15.7% | 15.0% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 3,519 people are unemployed in West Palm Beach, Florida.
The average commute time in West Palm Beach is 21 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Palm Beach, Florida has fallen from 10.8% to 5.2% in 2024. Over that period the rate peaked at 11.4% in 2012.
Conclusion
Considering all these factors, West Palm Beach, 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 West Palm Beach, Florida.
How Rich Is West Palm Beach, Florida?
West Palm Beach 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 $72,047, about 3% lower than the Florida average of $74,580.
Are incomes growing in West Palm Beach, Florida?
Between 2009 and 2024, the median household income in West Palm Beach, Florida rose 56%, from $46,162 to $72,047. Over the same years, income here kept pace with Florida as a whole: +56% against +57%.
What was the median household income in West Palm Beach in 2023?
In 2023, the median household income in West Palm Beach, Florida was $68,516, up 8% from $63,390 in 2022. The Florida median that year was $71,864.
What was the median household income in West Palm Beach in 2020?
In 2020, the median household income in West Palm Beach, Florida was $54,212. By 2024 it had risen 33% to $72,047.
What is the Gini coefficient in West Palm Beach, Florida?
The Gini coefficient in West Palm Beach is 0.544. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in West Palm Beach, Florida?
Since 2009, the income gap between men and women in West Palm Beach, Florida has widened from about 5% to 8% in 2024. Over that period the gap was widest at 12% in 2011, and was narrowest at 5% in 2017. In dollar terms, the gap has widened by $2,692 since 2009.
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