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 | Weston | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $139,527 | $71,865 | $78,145 |
| Median Personal Income | $93,523 | $53,537 | $61,726 |
| Average income growth | 5.7% | 5.7% | 5.1% |
| Six-Figure Earners | 23.3% | 10.9% | 13.2% |
The median household income in Weston is about 94% higher than in Florida. Income has been growing faster in Weston (5.7%/yr) than in Florida (5.7%/yr).
About 23% of adults in Weston 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 Weston, Florida grew by 61.8% from 2009 to 2023, reaching $139,527 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Weston | Gender Pay Gap | Gini Coefficient
| Metric | Weston | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.616 | 0.566 | 0.570 |
| Male Median Income | $109,338 | $58,426 | $67,746 |
| Female Median Income | $74,224 | $48,893 | $54,793 |
| Gender Pay Gap | 32.1% | 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 Weston, it is 0.616, higher than Florida's 0.566, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 47% more than women's income in Weston, Florida. Over a 35-year career, a 47% wage gap accumulates to roughly $1,228,990 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Weston, Florida has narrowed from about 42% to 32% in 2023. In dollar terms, the gap has widened by $2,709 since 2009.
Employment
| Metric | Weston | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.8% | 5.2% |
| Working from Home | 24.1% | 13.9% | 13.4% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 1,256 people are unemployed in Weston, Florida.
The average commute time in Weston is 27 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Weston, Florida has fallen from 7.3% to 3.7% in 2023.
Conclusion
Considering all these factors, Weston, 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 Weston, Florida.
How Rich Is Weston, Florida?
Weston 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 $139,527, about 94% higher than the Florida average of $71,865.
What is the current median household income in Weston, Florida?
As of 2023, the median household income in Weston, Florida is $139,527.
What was the median household income in Weston in 2023?
In 2023, the median household income in Weston, Florida was $139,527.
What was the median household income in Weston in 2020?
In 2020, the median household income in Weston, Florida was $113,138.
What is the Gini coefficient in Weston, Florida?
The Gini coefficient in Weston is 0.616. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Weston, Florida?
Since 2009, the income gap between men and women in Weston, Florida has narrowed from about 42% to 32% in 2023. In dollar terms, the gap has widened by $2,709 since 2009.