What Is The Average Household Income In West Palm Beach Florida?
West Palm Beach is one of the most popular cities in Florida. It’s well-known for its upscale shopping and dining, beautiful beaches and exciting nightlife. But what is the average household income in West Palm Beach?
According to the US Census Bureau, the median household income in West Palm Beach is $50,527. This is slightly higher than the median household income in Florida overall, which is $50,060. The median household income in the US is $61,937.
West Palm Beach has a wide range of incomes. The top 5% of households make more than $145,950 per year, while the bottom 5% of households make less than $21,222 per year. That’s a difference of more than $124,728.
Income levels in West Palm Beach vary depending on a number of factors, including education level, employment status, and age of the head of household. For example, households headed by someone with a college degree have a median household income of $64,220, while households headed by someone with a high school degree or less have a median household income of $37,977.
West Palm Beach also has a significant number of retirees. The median household income for households headed by someone aged 65 or above is $38,960, while for households headed by someone under the age of 35, the median household income is $47,941.
Overall, the median household income in West Palm Beach is slightly higher than the median household income in Florida overall, and significantly lower than the median household income in the US as a whole. West Palm Beach is a diverse city, with a wide variety of incomes, and a large population of retirees.
Discovering The Average Household Income In West Palm Beach, Florida
Figuring out the average household income in West Palm Beach, Florida can be tricky. The average household income in the area is a combination of income from all sources including wages, investments, and rent. It’s important to keep in mind that the average household income in West Palm Beach can change from year to year.
According to the U.S. Census Bureau, the median household income in West Palm Beach was $50,856 in 2019. This is slightly higher than the median household income for the state of Florida, which was $51,958 in 2019. The median is the midpoint in a list of numbers, with half of the households earning more and the other half earning less than the median.
When looking at the income distribution in West Palm Beach, the majority of households earn between $30,000 and $100,000. About 18 percent of households earn less than $30,000 and around 20 percent of households earn more than $100,000.
The table below shows the average household income in West Palm Beach, by zip code.
| Zip Code | Average Household Income |
|---|---|
| 33414 | $91,521 |
| 33415 | $63,199 |
| 33417 | $60,722 |
| 33418 | $60,912 |
| 33411 | $82,086 |
The cost of living in West Palm Beach is higher than the national average. The median home value is around $240,000, and the median rent is $1,315. This means that many households in West Palm Beach must earn a higher income to maintain their standard of living.
Figuring out the average household income in West Palm Beach can be difficult. It’s important to look at the income distribution and cost of living in the area in order to get an accurate picture. With this information, you can get a better sense of what the average household income in West Palm Beach is and how it may change in the future.
Exploring The Top-Searched Household Income In West Palm Beach, Florida
West Palm Beach, Florida is one of the most popular states in the United States. It is an ideal place for people to visit, retire, and live. With its warm climate, beautiful beaches, and wide range of outdoor activities, it’s no surprise that West Palm Beach is a popular destination for tourists and retirees alike. Knowing the average household income in West Palm Beach is important for interested parties to better plan budgets and understand what opportunities are available in the area.
The average household income for West Palm Beach is estimated to be between $41,000 and $42,400 per year. This figure is slightly lower than the average for the state of Florida, which is estimated at around $43,800. This is largely due to the fact that the cost of living in West Palm Beach is slightly higher than the rest of the state. Housing prices, in particular, are higher than the state average.
Interestingly, West Palm Beach is much more diverse than other areas of Florida. This could be one of the contributing factors to the lower average household income. Additionally, there is a larger number of people living below the poverty line. Around 21.6% of the population is living below the poverty line in West Palm Beach, as compared to 15.2% in the state of Florida.
The table below shows the top-searched household income in West Palm Beach, Florida:
| Category | Average Household Income |
|---|---|
| 1-Person Household | $26,000 |
| 2-Person Household | $45,000 |
| 3-Person Household | $54,000 |
| 4-Person Household | $62,000 |
| 5-Person Household | $70,000 |
| 6-Person Household | $77,000 |
As you can see from the table, the average household income in West Palm Beach is lower than the state average. That being said, the cost of living in West Palm Beach is slightly higher than the rest of the state, meaning that people need to have a higher income to maintain the same standard of living as those in other areas of Florida.
It is important to note that these figures are estimates and may vary depending on the specific area and demographic of West Palm Beach. Additionally, these figures do not factor in taxes or deductions, which could further affect the actual amount of income individuals receive.
If you are considering living in West Palm Beach, it is important to do your research and understand the local housing market and cost of living. This will help you make the best decision for your budget and lifestyle.
[toggles][toggle title=”What is the average household income in West Palm Beach Florida?”] The average household income in West Palm Beach Florida is estimated to be around $60,849 according to US Census Bureau data. [/toggle][toggle title=”What is the median income for households in West Palm Beach?”] The median household income in West Palm Beach Florida is estimated to be around $50,563 according to US Census Bureau data. [/toggle][toggle title=”What is the average salary for a family in West Palm Beach?”] The average salary for a family in West Palm Beach is estimated to be around $73,041 according to US Census Bureau data. [/toggle][toggle title=”What is the median wage in West Palm Beach?”] The median wage in West Palm Beach is estimated to be around $23.82 per hour according to US Census Bureau data. [/toggle][toggle title=”What is the median household net worth in West Palm Beach?”] The median household net worth in West Palm Beach is estimated to be around $601,904 according to US Census Bureau data. [/toggle][toggle title=”What is the average household size in West Palm Beach?”] The average household size in West Palm Beach is estimated to be around 2.54 people according to US Census Bureau data. [/toggle][toggle title=”What is the average number of people living in a household in West Palm Beach?”] The average number of people living in a household in West Palm Beach is estimated to be around 2.07 people according to US Census Bureau data. [/toggle][toggle title=”What is the median age of West Palm Beach residents?”] The median age of West Palm Beach residents is estimated to be around 42.3 years according to US Census Bureau data. [/toggle][toggle title=”What is the median rent for West Palm Beach residents?”] The median rent for West Palm Beach residents is estimated to be around $1,365 per month according to US Census Bureau data. [/toggle][toggle title=”What is the average cost of living in West Palm Beach?”] The average cost of living in West Palm Beach is estimated to be around 20.1% higher than the US average according to US Census Bureau data. [/toggle][/toggles]