24/7 Wall St. Insights
- The typical household salary in Florida is around $67,917, though the 22 counties on this list all make more annually.
- Most of Florida’s richest counties also have an extremely low unemployment rate of under 5.0%.
- Also: 2 Dividend Legends to Hold Forever
If you’re a golfer, head the Florida. The state is home to over 1,250 golf courses, the largest collection in the United States, and many people flock to the state year after year for the lush greenery and great golfing. But in Palm Beach County (#10 on our list), it’s getting more difficult to attend luxurious high-end country clubs and golf courses unless you’re one of the über-rich. Wait lists are years-long for the most elite courses and clubs, and it takes an estimated $1 million to even be considered to get removed from the wait list. This shows how the influx of extremely wealthy individuals to Florida from other areas of the country has impacted the state’s economy and demographics. (Check out the cities that Americans are flocking to.)
When it comes to wealth, where does Florida stand comparatively? The latest data from the U.S. Census Bureau’s American Community Survey shows that the typical American household earned nearly $75,000 in 2022, up from about $69,700 in 2021. The 7.2% increase was the largest recorded year-over-year since at least the mid-1990s. In Florida, a state home to 23 Fortune 500 companies, the typical household earns $67,917 annually. And in some parts of the state, household incomes exceed that amount by tens of thousands of dollars.
Using five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, 24/7 Wall St. identified the 21 richest counties in Florida. Counties in the state are ranked on median household income. Supplemental data on population, unemployment, and median home values are also five-year estimates from the 2022 ACS. This is the most up-to-date information at the time of publication.
Among the counties on this list, median household incomes are anywhere from about $1,300 to $32,100 higher than what the typical Florida household earns. In many of these counties, high incomes are underpinned by a strong job market. According to the ACS, the five-year average jobless rate in all but six of Florida’s richest counties is below the 5.0% statewide average. Home values are often a reflection of what residents can afford, and high incomes in these counties are often evidenced by the local real estate markets. In all but five counties on this list, the typical home is worth more than the $292,200 median home value across the state.
So, if you’re looking to move to Florida at any point in the future, make sure to recognize what kind of financial straits you might be in.
These are the richest counties in Florida:
Why We’re Telling You About Florida
Looking at Florida’s richest counties offers a look at the state’s economy and future progression. From these rich counties often emerges upcoming trends in real estate and development, jobs, and even changing population dynamics. Plus, if you’re searching for a new place to move, it’s important to understand where you might fit financially, if you can afford a house, and what kind of savings you might need before switching gears.
21. Flagler County
- Median household income: $69,251
- Median home value: $293,700
- 5-yr. avg. unemployment rate: 3.8%
- Population: 117,515
20. Lee County
- Median household income: $69,368
- Median home value: $290,900
- 5-yr. avg. unemployment rate: 4.5%
- Population: 772,902
19. Sumter County
- Median household income: $70,105
- Median home value: $324,400
- 5-yr. avg. unemployment rate: 5.1%
- Population: 131,832
18. Broward County
- Median household income: $70,331
- Median home value: $348,600
- 5-yr. avg. unemployment rate: 5.7%
- Population: 1,940,907
17. Hillsborough County
- Median household income: $70,612
- Median home value: $294,900
- 5-yr. avg. unemployment rate: 4.8%
- Population: 1,468,560
16. Brevard County
- Median household income: $71,308
- Median home value: $278,000
- 5-yr. avg. unemployment rate: 4.8%
- Population: 610,723
15. Manatee County
- Median household income: $71,385
- Median home value: $323,900
- 5-yr. avg. unemployment rate: 5.2%
- Population: 405,069
14. Wakulla County
- Median household income: $72,035
- Median home value: $198,600
- 5-yr. avg. unemployment rate: 3.6%
- Population: 33,732
13. Orange County
- Median household income: $72,629
- Median home value: $329,000
- 5-yr. avg. unemployment rate: 5.5%
- Population: 1,427,403
12. Okaloosa County
- Median household income: $73,988
- Median home value: $295,400
- 5-yr. avg. unemployment rate: 2.9%
- Population: 212,021
11. Walton County
- Median household income: $74,832
- Median home value: $327,000
- 5-yr. avg. unemployment rate: 5.2%
- Population: 76,618
10. Palm Beach County
- Median household income: $76,066
- Median home value: $368,300
- 5-yr. avg. unemployment rate: 5.8%
- Population: 1,494,805
9. Sarasota County
- Median household income: $77,213
- Median home value: $338,500
- 5-yr. avg. unemployment rate: 3.4%
- Population: 439,392
8. Martin County
- Median household income: $77,894
- Median home value: $359,200
- 5-yr. avg. unemployment rate: 4.4%
- Population: 159,399
7. Seminole County
- Median household income: $79,490
- Median home value: $329,300
- 5-yr. avg. unemployment rate: 4.3%
- Population: 471,321
6. Monroe County
- Median household income: $80,111
- Median home value: $696,900
- 5-yr. avg. unemployment rate: 3.3%
- Population: 82,044
5. Collier County
- Median household income: $82,011
- Median home value: $443,700
- 5-yr. avg. unemployment rate: 4.3%
- Population: 380,221
4. Clay County
- Median household income: $82,242
- Median home value: $254,500
- 5-yr. avg. unemployment rate: 4.2%
- Population: 219,650
3. Nassau County
- Median household income: $84,085
- Median home value: $306,800
- 5-yr. avg. unemployment rate: 4.0%
- Population: 91,538
2. Santa Rosa County
- Median household income: $84,715
- Median home value: $272,500
- 5-yr. avg. unemployment rate: 4.4%
- Population: 188,994
1. St. Johns County
- Median household income: $100,020
- Median home value: $416,100
- 5-yr. avg. unemployment rate: 4.4%
- Population: 278,722
| Rank | County | Median household income ($) | Median home value ($) | Unemployment rate (%) |
|---|---|---|---|---|
| 1 | St. Johns, Florida | 100,020 | 416,100 | 4.4 |
| 2 | Santa Rosa, Florida | 84,715 | 272,500 | 4.4 |
| 3 | Nassau, Florida | 84,085 | 306,800 | 4.0 |
| 4 | Clay, Florida | 82,242 | 254,500 | 4.2 |
| 5 | Collier, Florida | 82,011 | 443,700 | 4.3 |
| 6 | Monroe, Florida | 80,111 | 696,900 | 3.3 |
| 7 | Seminole, Florida | 79,490 | 329,300 | 4.3 |
| 8 | Martin, Florida | 77,894 | 359,200 | 4.4 |
| 9 | Sarasota, Florida | 77,213 | 338,500 | 3.4 |
| 10 | Palm Beach, Florida | 76,066 | 368,300 | 5.8 |
| 11 | Walton, Florida | 74,832 | 327,000 | 5.2 |
| 12 | Okaloosa, Florida | 73,988 | 295,400 | 2.9 |
| 13 | Orange, Florida | 72,629 | 329,000 | 5.5 |
| 14 | Wakulla, Florida | 72,035 | 198,600 | 3.6 |
| 15 | Manatee, Florida | 71,385 | 323,900 | 5.2 |
| 16 | Brevard, Florida | 71,308 | 278,000 | 4.8 |
| 17 | Hillsborough, Florida | 70,612 | 294,900 | 4.8 |
| 18 | Broward, Florida | 70,331 | 348,600 | 5.7 |
| 19 | Sumter, Florida | 70,105 | 324,400 | 5.1 |
| 20 | Lee, Florida | 69,368 | 290,900 | 4.5 |
| 21 | Flagler, Florida | 69,251 | 293,700 | 3.8 |
“The Next NVIDIA” Could Change Your Life
If you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
Click here to download your FREE copy.
The post If You Can Live in This County, You’re Doing Well appeared first on 24/7 Wall St..