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 Springs | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,055 | $71,865 | $78,145 |
| Median Personal Income | $61,256 | $53,537 | $61,726 |
| Average income growth | 4.3% | 5.7% | 5.1% |
| Six-Figure Earners | 13.8% | 10.9% | 13.2% |
The median household income in Winter Springs is about 18% higher than in Florida. Income has been growing slower in Winter Springs (4.3%/yr) than in Florida (5.7%/yr).
About 14% of adults in Winter Springs 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 Springs, Florida grew by 34.4% from 2009 to 2023, reaching $85,055 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Winter Springs | Gender Pay Gap | Gini Coefficient
| Metric | Winter Springs | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.566 | 0.570 |
| Male Median Income | $70,980 | $58,426 | $67,746 |
| Female Median Income | $53,405 | $48,893 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Springs, 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 33% more than women's income in Winter Springs, Florida. Over a 35-year career, a 33% wage gap accumulates to roughly $615,125 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 Springs, Florida has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $3,266 since 2009.
Employment
| Metric | Winter Springs | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 4.8% | 5.2% |
| Working from Home | 21.5% | 13.9% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 621 people are unemployed in Winter Springs, Florida.
The average commute time in Winter Springs is 26 minutes, longer than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Winter Springs, Florida has fallen from 9.8% to 3.5% in 2023.
Conclusion
Considering all these factors, Winter Springs, 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 Springs, Florida.
How Rich Is Winter Springs, Florida?
Winter Springs 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 $85,055, about 18% higher than the Florida average of $71,865.
What is the current median household income in Winter Springs, Florida?
As of 2023, the median household income in Winter Springs, Florida is $85,055.
What was the median household income in Winter Springs in 2023?
In 2023, the median household income in Winter Springs, Florida was $85,055.
What was the median household income in Winter Springs in 2020?
In 2020, the median household income in Winter Springs, Florida was $73,397.
What is the Gini coefficient in Winter Springs, Florida?
The Gini coefficient in Winter Springs 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 Springs, Florida?
Since 2009, the income gap between men and women in Winter Springs, Florida has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $3,266 since 2009.