WEST PALM BEACH, Fla. — Palm Beach County ranks as Florida's fifth most wealth county based on investment income, property values and per capita income, according to a study.
Financial tech company SmartAsset analyzed the data for counties nationwide.
Palm Beach County's wealth index was 28.29 based on a median income of $68,874, investment income of $149,636 and median home value of $458,834.
No. 1 was Monroe County with a 50.38 score followed by Collier with 33.04, St. Johns with 32.06 and Miami-Dade with 28.66.
Elsewhere in South Florida, Martin was sixth with 27.63, Broward seventh with 26.73. Indian River was 12th with 20th, St. Lucie 24th and Okeechobee 50th.
In South Florida the most disparate category was investment income ranging from Martin at $155,692 to St. Lucie with $30,270.
Miami-Dade: $57,815 median income, $119,023 investment income, $479,969 median home value
Palm Beach County: $68,874 median income, $149,636 investment income, $458,834 median home value
Martin: $69,769 median income, $155,692 investment income, $460,905 median home value
Broward: $64,522 median income, $62,691 investment income, $414,387 median home value
Indian River: $61,594 median income, $135,241 investment income, median home value $373,268
St. Lucie: $59,807 median income, $30,270 investment income, $370,405 median home value
Okeechobee: $47,020 median income, $32,008 investment income, median home value $231,713
State data and national data are on SmartAsset's website.
Nationally Palm Beach County is ranked 244th. San Mateo County in California is No. 1, including a $136,837 median income, $149,818 investment income and $1,495,191 median home value with an index of 100.00.
California occupied the top fourth spots in the nation with San Francisco second, Santa Clara third and Marin fourth. Alameda was ninth.
Outside of California, Nantucket in Massachusetts was fifth followed by New York; Teto, Wyoming; Falls Church, Va. Dukes County in Massachusetts rounded out the top 10.
SmartAsset used data from IRS SOI Tax Statistics, Zillow and the Bureau of Economic Analysis.
“We started the analysis by calculating the Investment Index for each county by evenly weighing the Ordinary Dividends, Qualified Dividends, and Net Capital Gains. From there we calculated the Median Home Value, and the Per Capita Income for each county, and ranked them on all three metrics,” SmartAsset wrote.
