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 Park | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $92,523 | $71,865 | $78,145 |
| Median Personal Income | $85,669 | $53,537 | $61,726 |
| Average income growth | 6.4% | 5.7% | 5.1% |
| Six-Figure Earners | 22.3% | 10.9% | 13.2% |
The median household income in Winter Park is about 29% higher than in Florida. Income has been growing faster in Winter Park (6.4%/yr) than in Florida (5.7%/yr).
About 22% of adults in Winter Park 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 Winter Park, Florida grew by 64.2% from 2009 to 2023, reaching $92,523 in 2023. That's an average of about 6.4% per year.
Economic Inequality in Winter Park | Gender Pay Gap | Gini Coefficient
| Metric | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.566 | 0.570 |
| Male Median Income | $100,501 | $58,426 | $67,746 |
| Female Median Income | $70,986 | $48,893 | $54,793 |
| Gender Pay Gap | 29.4% | 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 Park, it is 0.588, 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 42% more than women's income in Winter Park, Florida. Over a 35-year career, a 42% wage gap accumulates to roughly $1,033,025 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 Park, Florida has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $9,121 since 2009.
Employment
| Metric | Winter Park | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.8% | 5.2% |
| Working from Home | 25.6% | 13.9% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 660 people are unemployed in Winter Park, Florida.
The average commute time in Winter Park is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Winter Park, Florida has fallen from 8.1% to 4.2% in 2023.
Conclusion
Considering all these factors, Winter Park, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Winter Park, Florida.
How Rich Is Winter Park, Florida?
Winter Park 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 $92,523, about 29% higher than the Florida average of $71,865.
What is the current median household income in Winter Park, Florida?
As of 2023, the median household income in Winter Park, Florida is $92,523.
What was the median household income in Winter Park in 2023?
In 2023, the median household income in Winter Park, Florida was $92,523.
What was the median household income in Winter Park in 2020?
In 2020, the median household income in Winter Park, Florida was $79,650.
What is the Gini coefficient in Winter Park, Florida?
The Gini coefficient in Winter Park is 0.588. 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 Winter Park, Florida?
Since 2009, the income gap between men and women in Winter Park, Florida has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $9,121 since 2009.