by Kristen Carney
Updated: June 20, 2024
The richest county in Florida is St. Johns County with an average household income of $136,986 as of 2022 and 320,110 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | St. Johns County | 320,110 | $136,986 | $100,020 |
2 | Collier County | 404,310 | $133,140 | $82,011 |
3 | Monroe County | 80,614 | $125,422 | $80,111 |
4 | Palm Beach County | 1,533,801 | $117,712 | $76,066 |
5 | Martin County | 163,315 | $117,069 | $77,894 |
6 | Sarasota County | 469,013 | $115,389 | $77,213 |
7 | Walton County | 86,354 | $111,179 | $74,832 |
8 | Nassau County | 101,501 | $109,291 | $84,085 |
9 | Seminole County | 484,271 | $106,626 | $79,490 |
10 | Santa Rosa County | 203,162 | $104,371 | $84,715 |
11 | Orange County | 1,471,416 | $103,222 | $72,629 |
12 | Indian River County | 169,795 | $101,260 | $67,543 |
13 | Clay County | 232,439 | $100,855 | $82,242 |
14 | Broward County | 1,962,531 | $100,559 | $70,331 |
15 | Hillsborough County | 1,535,564 | $100,434 | $70,612 |
16 | Manatee County | 441,095 | $100,288 | $71,385 |
17 | Okaloosa County | 218,464 | $99,249 | $73,988 |
18 | Lee County | 834,573 | $97,521 | $69,368 |
19 | Flagler County | 131,439 | $97,079 | $69,251 |
20 | Pinellas County | 961,596 | $96,725 | $66,406 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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