Fort Myers Florida Income Charts

This section shows the Fort Myers Florida economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Fort Myers depicts it has a Median earnings of $41,455 which is the third most median earnings of all other places in the greater Fort Myers region. The city with the highest median earnings per worker in the area is Whiskey Creek CDP which shows a median earnings of $61,250 (47.8% larger). Comparing median earnings per worker to the United States average of $53,269, Fort Myers is approximately three-fourths the size. Also, in comparison with the state of Florida, median earnings per worker of $44,941, Fort Myers is about 8.4% smaller.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $51,682 which is in the mid range of other places in the area. The city with the highest median household income in the area is Whiskey Creek CDP which depicts a median income of $85,417 (65.3% larger). Comparing median household income to the United States average of $69,021, Fort Myers is approximately three-fourths the size. Also, measured against the state of Florida, median household income of $61,777, Fort Myers is about 19.5% smaller.

The next section examines a variety of different income statistics for the Fort Myers metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 less than most other places in the area at 6.5% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.4 which is less than most other places in the metro area. The city with the highest average hours in the area is Whiskey Creek CDP which depicts an average hours of 42.1 (9.6% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $20.76 which is the third most of all other places in the greater region. The city with the highest average hourly earnings in the area is Lochmoor Waterway Estates CDP which shows an average hourly earnings of $29.81 (43.6% larger). Comparing average hourly earnings to the United States average of $26.40, Fort Myers is approximately three-fourths the size. Also, measured against the state of Florida, average hourly earnings of $22.22, Fort Myers is about 7.0% smaller.

Figure 7 examines the number of self employed people in the Fort Myers metro area based on the number of people who reported any self employment income. Fort Myers depicts it has a Self Employed of 5.9% which is the smallest in terms of percentage of people self employed of all the other places in the local area. The city with the highest percentage of people self employed in the area is Lochmoor Waterway Estates CDP which depicts a percentage self employed of 12.8% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other places in the local area at $53,040 of the total. Second, it has in the center range of other places in the metro area when sorted by median income-25 to 44 years at $55,293 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $50,438 of the total and is ranked #2. The only larger city being Whiskey Creek CDP with $63,857.

Figure 9 breaks down the source of income and Fort Myers has the largest proportion of self employment income at 22.1% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 21.8% which is in the intermediate range of other places in the local area. The city with the highest households with retirement income in the area is Whiskey Creek CDP which depicts a households with retirement income of 32.0% (46.3% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $82,772 of the total and is ranked #3. Only #2 Lochmoor Waterway Estates CDP ($88,750), and #1 Whiskey Creek CDP ($113,969) are larger. Second, it has one of the largest proportions of white family income at $44,561 of the total and is ranked #2. The only larger city being Lochmoor Waterway Estates CDP with $73,702. Third, it has one of the largest proportions of american indian family income at $86,667 of the total and is ranked #2. The only larger city being Villas CDP with $102,981. Also, it has one of the largest proportions of hawaiian family income at $40,475 of the total and is ranked #3. Only #2 Tice CDP ($40,785), and #1 Villas CDP ($69,534) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Fort Myers depicts it has the hightest cost of 107.9 for the cost of grocery items aggregate.

Fort Myers Florida Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from February 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 12.3% to 3.0% in February 2020. This represents a decrease in the monthly unemployment rate of 75.6%. Since that time, the monthly unemployment rate has gone to 3.0% This represents an increase in the monthly unemployment rate of very little. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 26,344 to 38,280 in March 2020. This represents an increase in the monthly labor force participation of 45.3%. Since that time, the monthly labor force participation has gone to 39,929 This represents an increase in the monthly labor force participation of 4.3%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Fort Myers depicts it has a Unemployment Rate of 2.7% which is the third most of all other places in the surrounding region. The city with the highest unemployment rate in the area is Page Park CDP which depicts a rate of 13.7% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Fort Myers depicts it has a Labor Force Participation of 55.1% which is the second smallest when ranked by participation rate of all the other places in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Fort Myers depicts full time employees approximately 3.8 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Fort Myers area. Fort Myers depicts it has a Single Earner Families of 29.2% which is the second smallest in order of families with a single earner of all the other places in the greater region. The city with the highest families with a single earner in the area is Page Park CDP which depicts a single earners rate of 80.0% (approximately 2.7 times bigger). The percentage of families with no one working is depicted in Figure 22. Fort Myers shows it has a Families with No One Working of 31.2% which is ranked #1 of all places in the greater Fort Myers region.

Fort Myers Florida Poverty Charts

The next section details economy analysis about poverty for residents of the Fort Myers community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Fort Myers depicts it has a Total In Poverty of 13,144 which is the highest of all places in the greater Fort Myers region.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Fort Myers depicts it has a Percent of Population In Poverty of 16.0% which is in the mid range of other places in the area. The city with the highest percent of people earning less than the poverty level in the area is Pine Manor CDP which depicts a percent of people in poverty of 41.6% (approximately 2.6 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Fort Myers has one of the largest proportions of person in poverty 18 to 34 years at 22% of the total and is ranked #3. Only #2 Pine Manor CDP (22%), and #1 Tice CDP (32%) are larger. Second, it has in the mid range of other places in the local area when ranked by person in poverty 55 to 64 years at 19% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Fort Myers has the largest proportion of black poverty rate at 1% of the total and is ranked #1. Second, it has the largest proportion of asian poverty rate at 20% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Fort Myers has the percentage of unmarried female with children and in poverty in the mid range of other places in the local area at 10% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Fort Myers shows it has a Public Assistance Percent of 15.3% which is the third most households with public assistance of all other places in the greater Fort Myers region. The city with the highest households with public assistance in the area is Pine Manor CDP which depicts a households with public assistance of 31.9% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Fort Myers shows it has a Gini Index of 51.5% which is at the top of all other places in the greater Fort Myers region.

Fort Myers Florida Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Fort Myers or elsewhere.) Fort Myers has the largest proportion of people who take the ferry at 0% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Fort Myers has the largest proportion of people who leave for work between 10am to 11am at 3% of the total and is ranked #1.

The average commute time is shown in Figure 37. Fort Myers depicts it has a Avg Commute Time of 25 which is in the center range of other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Fort Myers depicts average commute time in minutes for men 16.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Fort Myers has the percentage of 1 vehicle available in the mid range of other places in the greater region at 43% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Fort Myers depicts it has a Work in city or place where live of 42% which is the highest of all places in the local area. Comparing people who both work and live in the same city to the United States average of 44%, Fort Myers is only about 4.8% smaller. Also, compared with the state of Florida, people who both work and live in the same city of 35%, Fort Myers is 19.5% larger.

Fort Myers Florida Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Fort Myers shows it has the hightest median earnings of $94,968 for the earnings-healthcare practitioners and tech occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Fort Myers depicts it has the hightest median earnings of $71,659 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Fort Myers employment data in terms of job categories and salary data.

Fort Myers Florida Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Fort Myers shows it has the hightest entrepreneurs of 44% for the self employed management, business, science, and arts businesses group.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Fort Myers depicts it has the hightest entrepreneurs of 20% for the self employed in professional, scientific, management, administrative services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Fort Myers depicts it has a Self Employment Income of $38,079 which is in the intermediate range of other places in the local area. The city with the highest average annual self employment income in the area is Whiskey Creek CDP which depicts an average annual self employment income of $77,244 (about twice as large). Comparing average annual self employment income to the United States average of $42,141, Fort Myers is about 10.7% smaller. Also, versus the state of Florida, average annual self employment income of $40,129, Fort Myers is about 5.4% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Fort Myers depicts total number of self-employed men about twice as large as the total number of self-employed women.