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 | Winter Haven | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,005 | $71,865 | $78,145 |
| Median Personal Income | $44,106 | $53,537 | $61,726 |
| Average income growth | 5.1% | 5.7% | 5.1% |
| Six-Figure Earners | 5.6% | 10.9% | 13.2% |
The median household income in Winter Haven is about 21% lower than in Florida. Income has been growing slower in Winter Haven (5.1%/yr) than in Florida (5.7%/yr).
About 6% of adults in Winter Haven earn six figures ($100,000 or more) a year, lower than the Florida average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Winter Haven, Florida grew by 49.5% from 2009 to 2023, reaching $57,005 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Winter Haven | Gender Pay Gap | Gini Coefficient
| Metric | Winter Haven | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.566 | 0.570 |
| Male Median Income | $48,003 | $58,426 | $67,746 |
| Female Median Income | $39,950 | $48,893 | $54,793 |
| Gender Pay Gap | 16.8% | 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 Winter Haven, it is 0.553, 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 20% more than women's income in Winter Haven, Florida. Over a 35-year career, a 20% wage gap accumulates to roughly $281,855 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Winter Haven, Florida has narrowed from about 18% to 17% in 2023. In dollar terms, the gap has widened by $1,146 since 2009.
Employment
| Metric | Winter Haven | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.8% | 5.2% |
| Working from Home | 9.0% | 13.9% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 964 people are unemployed in Winter Haven, Florida.
The average commute time in Winter Haven is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Winter Haven, Florida has fallen from 9.5% to 4.2% in 2023.
Conclusion
Considering all these factors, Winter Haven, Florida has an overall wealth index grade of D, making it somewhat worse than Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Winter Haven, Florida.
How Rich Is Winter Haven, Florida?
Winter Haven has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $57,005, about 21% lower than the Florida average of $71,865.
What is the current median household income in Winter Haven, Florida?
As of 2023, the median household income in Winter Haven, Florida is $57,005.
What was the median household income in Winter Haven in 2023?
In 2023, the median household income in Winter Haven, Florida was $57,005.
What was the median household income in Winter Haven in 2020?
In 2020, the median household income in Winter Haven, Florida was $46,834.
What is the Gini coefficient in Winter Haven, Florida?
The Gini coefficient in Winter Haven is 0.553. 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 Winter Haven, Florida?
Since 2009, the income gap between men and women in Winter Haven, Florida has narrowed from about 18% to 17% in 2023. In dollar terms, the gap has widened by $1,146 since 2009.