How Median Florida Salaries Stack up to Living Wages
We've tapped into MONEY's new tool to see if median Florida salaries are enough to support households in our region.
MONEY has created a salary calculator to let people compare their annual incomes to others. We’ve tapped into the tool to see how salaries stack up to living wage standards in Lee and Collier counties, based on age and household size.
The new device calculates median salaries based on age, gender and state, with data gathered from the Census Bureau's American Community Survey.
The median age in Lee County is 48, according to Data USA. In Collier County, the median age is 50.
The median salary for a 48-year-old male in Florida is $48,525, the MONEY calculator shows. The median salary for a 48-year-old female in Florida is nearly $10,000 less than that, at $38,529. A 50-year-old male in Florida makes about $48,669 per year, while a 50-year-old female in Florida pulls in a median salary of $38,817.
Each amount is well above living wage for one adult in Lee County ($23,031) and Collier County ($23,563), according to Massachusetts Institute of Technology’s Living Wage Calculator. However, if one adult is supporting one child, he or she needs to make at least $48,810 per year before taxes in Lee County, and $50,598 in Collier County, the calculator shows. This means the median salary for 48-year-olds and 50-year-olds in Florida is not enough to support a one adult, one child household in Collier and Lee counties.