How Much Money It Takes to Be Average in Palm Beach County
Bottom Line: Recently Smart Asset released their annual study of the “Wealthiest Counties” in the United States. Not surprisingly, South Florida is well represented within the state and the country for that matter as well. In fact, of the top five wealthiest counties in Florida, four are in South Florida with Monroe first, Collier second, Miami Dade fourth and Palm Beach County fifth. Only St. John’s, in northeast Florida, cracks the top five. The way Smart Asset measures wealth in this study is by median income, investment income and median home value which are averaged into what they call an “Overall Wealth Index”. And how much wealthier is the average resident of Palm Beach County?
- Palm Beach County’s Wealth Index (28.29), is 46% higher than the average county in Florida
And what does it take to be average in Palm Beach County?
- Median Income: $68,874
- Investments: $149,636
- Median Home Value: $458,834
Only about 7% of the counties in the country are wealthier than Palm Beach County based on Smart Asset’s data. That means the average resident of Palm Beach County is among the wealthiest in the country. Let alone if you’re among the wealthiest within Palm Beach County. Being financially average in Palm Beach County makes one anything but average overall.