A dataset listing the 20 richest counties in Florida for 2024, including information on rank, county, population, average income, and median income.

In 2024, households in the Miami-Miami Beach-Kendall HMFA metro needed an hourly wage of 44.69 U.S. dollars to afford the rent of a two-bedroom apartment. West Palm Beach-Boca Raton HMFA had the second most expensive two-bedroom apartments as a household would have to earn at least 42.81 U.S. dollars in order to afford rent payments.On the other hand, Levy County HMFA was the most affordable metro, requiring renters to earn less than 18 U.S. dollars in hourly wages to afford monthly rent.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to 84.8 - well below the national benchmark of 100. Nevada - which had an index value of 100.1 - was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately 427,000 U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than 200,000 U.S. dollars. That makes living costs in these states significantly lower than in states such as Hawaii and California, where housing is much more expensive. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded 500 U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

About this dataset

Context

The dataset presents a breakdown of households across various income brackets in Martin County, FL, as reported by the U.S. Census Bureau. The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Martin County, FL reveals how household income distribution varies among these categories. The dataset highlights the variation in number of households with income, offering valuable insights into the distribution of Martin County households based on income levels.

Key observations

• For Family Households: In Martin County, the majority of family households, representing 17.44%, earn $200,000 or more, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising 1.21%, have incomes falling $150,000 to $199,999, representing a smaller but still significant segment of the community.
• For Non-Family Households: In Martin County, the majority of non-family households, accounting for 10.67%, have income $75,000 to $99,999, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising 3.07%, earn $150,000 to $199,999, representing a smaller, yet notable, portion of non-family households in the community.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Income Levels:

• Less than $10,000
• $10,000 to $14,999
• $15,000 to $19,999
• $20,000 to $24,999
• $25,000 to $29,999
• $30,000 to $34,999
• $35,000 to $39,999
• $40,000 to $44,999
• $45,000 to $49,999
• $50,000 to $59,999
• $60,000 to $74,999
• $75,000 to $99,999
• $125,000 to $149,999
• $150,000 to $199,999
• $200,000 or more

Variables / Data Columns

• Income Level: The income level represents the income brackets ranging from Less than $10,000 to $200,000 or more in Martin County, FL (As mentioned above).
• All Households: Count of households for the specified income level
• % All Households: Percentage of households at the specified income level relative to the total households in Martin County, FL
• Family Households: Count of family households for the specified income level
• % Family Households: Percentage of family households at the specified income level relative to the total family households in Martin County, FL
• Non-Family Households: Count of non-family households for the specified income level
• % Non-Family Households: Percentage of non-family households at the specified income level relative to the total non-family households in Martin County, FL

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Martin County median household income. You can refer the same here