Florida vs. Washington
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1958-2022
Introduction
Florida vs. Washington
Florida:
2022 PCI = $64,806
2022 Rank = #18
Washington:
2022 PCI = $75,332
2022 Rank = #8
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
Personal income is the income that is received by persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current tranfer receipts, less contributions for government social insurance. This measure of income is calculated as the personal income of the residents of a given area divided by the resident population of the area. In computing per capita personal income, BEA uses the Census Bureau's annual midyear population estimates.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller states in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent states may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Florida Per Capita Personal Income, 1959-2022
Current vs. Constant Dollars
Florida Per Capita Personal Income, 1959-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Florida's annual per capita personal income over 1959-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Florida over time.
When measured in current dollars, Florida's per capita personal income increased 2,999.40%, from $2,091 in 1959 to $64,806 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 308.38%, from $13,675 in 1959 to $55,847 in 2022.
Real Per Capita Personal Income, 1958-2022
Real Per Capita Personal Income, 1958-2022
Figure 2.
Figure 2 tracks Florida's and Washington's annual real per capita personal income for the period 1958-2022 to illustrate real per capita personal income patterns over time. During this 65-year period, Florida's real per capita personal income rose from $13,054 in 1958 to $55,847 in 2022, for a net gain of $42,792, or 327.80%. In comparison, Washington's real per capita personal income advanced from $15,770 in 1958 to $64,917 in 2022, for a net gain of $49,148, or 311.66%. Florida's real per capita personal income ranked 18th among the 51 states in 2022, Washington's ranked 8th.
In addition, the United States' real per capita personal income increased from $14,336 in 1958 to $56,419 in 2022, for a net gain of $42,082, or 293.54%.
Real Per Capita Personal Income Indices (1958=100): 1958-2022
Real Per Capita Personal Income Indices (1958=100): 1958-2022
Figure 3.
Figure 3 portrays Florida's real per capita personal income growth in a broader context by offering direct comparisons across time with Washington, the United States. The growth indices shown here express each region's real per capita personal income in 1958 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1958 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Florida's overall real per capita personal income growth was 327.80% over 1958-2022 outpaced Washington's increase of 311.66%, and outpaced the United States' increase of 293.54%.
Per Capita Personal Income as a Percent of the U.S. Average: 1958-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1958-2022
Figure 4.
Figure 4 portrays the trends for per capita personal income relative to the national average by tracing Florida and Washington per capita personal income as a percent of the national average over 1958-2022.
In 1958, Florida's per capita personal income amounted to 91.06% of the national average; in 2022, it approximated 98.99%. Similarly, in 1958, Washington's per capita personal income totaled 110.00% of the national average; in 2022, it consisted of 115.06%.
Florida Real Per Capita Personal Income:
Annual Percent Change, 1959-2022
Florida Real Per Capita Personal Income:
Annual Percent Change, 1959-2022
Figure 5.
Figure 5 shows the short-run pattern of Florida's real per capita personal income growth by tracking the year-to-year percent change over 1959-2022. The average annual percent change for the entire 64-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Florida's real per capita personal income grew at an annual rate of 2.33% over 1959-2022. The state recorded its highest growth in 1969 (7.40%) and posted its lowest growth in 2009 (-5.88%). In 2022, Florida's real per capita personal income declined by -3.50%
Florida Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Florida Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Figure 6.
Over the past six decades some states have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again traces the annual percent change in Florida's real per capita personal income since 1959, but this time they are overlayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1960s, Florida's annual real per capita personal income growth rate averaged 3.88%. It averaged 2.51% in the 1970s, 2.73% throughout the 1980s, 1.46% in the 1990s, 0.78% throughout the 2000s, 2.30% throughout the 2010s, 2.62% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Florida noted in the previous graph with the corresponding decade averages for Washington and the nation. As the chart reveals, Florida's average annual real per capita personal income growth led Washington's average throughout the 1960s (3.88% vs. 3.37%), amounted to less than Washington's average during the 1970s (2.51% vs. 2.53%), led Washington's average throughout the 1980s (2.73% vs. 1.41%), trailed Washington's average during the 1990s (1.46% vs. 2.58%), amounted to less than Washington's average throughout the 2000s (0.78% vs. 0.96%), trailed Washington's average throughout the 2010s (2.30% vs. 2.73%), and topped Washington's average over the 3 year period of the current decade, 2020-2022 (2.62% vs. 2.07%).
Finally, relative to nationwide real per capita personal income growth trends, Florida exceeded the nation during the 1960s (3.88% vs. 3.49%), outgained the nation during the 1970s (2.51% vs. 2.37%), recorded above the nation over the 1980s (2.73% vs. 2.19%), recorded underneath the nation during the 1990s (1.46% vs. 2.01%), fell under the nation in the 2000s (0.78% vs. 1.10%), led the nation during the 2010s (2.30% vs. 1.97%), and led the nation over 2020-2022 (2.62% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.33
3.88
2.51
2.73
1.46
0.78
2.30
2.62
-3.50
 
2.26
3.37
2.53
1.41
2.58
0.96
2.73
2.07
-4.62
 
2.18
3.49
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Florida:
Per Capita Personal Income, 1958-2022
 
1958
 
1,967
0.151
13,054
100.0
N
91.06
32
1959
 
2,091
0.153
13,675
104.8
4.76
92.52
27
1960
 
2,105
0.155
13,542
103.7
-0.97
90.68
31
1961
 
2,130
0.157
13,562
103.9
0.15
89.36
31
1962
 
2,209
0.159
13,904
106.5
2.52
88.42
34
1963
 
2,299
0.161
14,300
109.5
2.85
88.81
33
1964
 
2,449
0.163
15,014
115.0
4.99
89.53
31
1965
 
2,599
0.165
15,709
120.3
4.63
89.07
32
1966
 
2,781
0.170
16,396
125.6
4.38
88.74
32
1967
 
3,007
0.174
17,294
132.5
5.48
90.37
30
1968
 
3,355
0.181
18,566
142.2
7.35
92.75
27
1969
 
3,765
0.189
19,940
152.7
7.40
95.79
23
1970
 
4,131
0.198
20,898
160.1
4.81
98.40
20
1971
 
4,433
0.206
21,516
164.8
2.96
99.17
18
1972
 
4,860
0.213
22,809
174.7
6.01
100.07
17
1973
 
5,371
0.225
23,920
183.2
4.87
100.15
23
1974
 
5,757
0.248
23,221
177.9
-2.92
98.66
22
1975
 
6,107
0.269
22,738
174.2
-2.08
96.58
26
1976
 
6,557
0.283
23,141
177.3
1.77
95.37
27
1977
 
7,182
0.302
23,802
182.3
2.85
95.57
27
1978
 
8,064
0.323
24,983
191.4
4.96
96.50
27
1979
 
8,941
0.351
25,443
194.9
1.84
96.85
26
1980
 
10,153
0.389
26,082
199.8
2.51
99.70
20
1981
 
11,337
0.424
26,729
204.7
2.48
100.40
19
1982
 
11,924
0.448
26,634
204.0
-0.36
99.45
21
1983
 
12,850
0.467
27,531
210.9
3.37
101.18
18
1984
 
13,908
0.484
28,713
219.9
4.29
100.14
18
1985
 
14,814
0.501
29,552
226.4
2.92
100.46
19
1986
 
15,597
0.512
30,452
233.3
3.05
100.75
19
1987
 
16,330
0.528
30,927
236.9
1.56
100.63
19
1988
 
17,580
0.549
32,043
245.5
3.61
100.80
18
1989
 
19,057
0.573
33,281
254.9
3.86
102.14
16
1990
 
19,765
0.598
33,065
253.3
-0.65
100.74
19
1991
 
20,109
0.618
32,552
249.4
-1.55
100.29
20
1992
 
20,812
0.634
32,816
251.4
0.81
98.74
20
1993
 
21,623
0.650
33,267
254.8
1.37
99.59
20
1994
 
22,289
0.664
33,590
257.3
0.97
98.83
21
1995
 
23,464
0.678
34,632
265.3
3.10
99.52
21
1996
 
24,443
0.692
35,321
270.6
1.99
98.86
21
1997
 
25,397
0.704
36,071
276.3
2.12
97.96
22
1998
 
26,909
0.710
37,917
290.5
5.12
97.88
21
1999
 
27,662
0.720
38,418
294.3
1.32
96.74
21
2000
 
29,387
0.738
39,808
304.9
3.62
96.19
22
2001
 
30,405
0.753
40,378
309.3
1.43
96.38
23
2002
 
30,815
0.763
40,392
309.4
0.04
96.90
23
2003
 
31,779
0.779
40,797
312.5
1.00
97.30
24
2004
 
33,706
0.798
42,224
323.4
3.50
98.61
22
2005
 
35,736
0.821
43,513
333.3
3.05
100.19
21
2006
 
38,009
0.844
45,013
344.8
3.45
100.44
20
2007
 
39,184
0.866
45,244
346.6
0.51
98.98
21
2008
 
39,185
0.892
43,944
336.6
-2.87
95.92
26
2009
 
36,777
0.889
41,359
316.8
-5.88
93.56
30
2010
 
38,778
0.905
42,842
328.2
3.59
95.61
27
2011
 
40,433
0.928
43,568
333.7
1.69
94.80
28
2012
 
41,204
0.945
43,586
333.9
0.04
93.14
29
2013
 
40,733
0.958
42,527
325.8
-2.43
91.74
31
2014
 
42,865
0.971
44,136
338.1
3.78
92.61
29
2015
 
44,945
0.973
46,193
353.9
4.66
93.52
28
2016
 
45,720
0.983
46,518
356.3
0.70
93.36
27
2017
 
48,439
1.000
48,439
371.1
4.13
94.97
25
2018
 
51,009
1.020
49,986
382.9
3.19
95.69
25
2019
 
53,640
1.035
51,820
397.0
3.67
96.57
23
2020
 
56,561
1.046
54,055
414.1
4.31
95.62
23
2021
 
63,078
1.090
57,870
443.3
7.06
97.90
20
2022
 
64,806
1.160
55,847
427.8
-3.50
98.99
18
Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_SA1400_700_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Washington:
Per Capita Personal Income, 1958-2022
 
1958
 
2,376
0.151
15,770
100.0
N
110.00
10
1959
 
2,480
0.153
16,217
102.8
2.83
109.71
10
1960
 
2,539
0.155
16,335
103.6
0.73
109.38
11
1961
 
2,640
0.157
16,815
106.6
2.94
110.79
12
1962
 
2,788
0.159
17,552
111.3
4.38
111.61
10
1963
 
2,841
0.161
17,669
112.0
0.67
109.73
12
1964
 
2,968
0.163
18,197
115.4
2.99
108.50
13
1965
 
3,190
0.165
19,283
122.3
5.97
109.34
11
1966
 
3,498
0.170
20,622
130.8
6.95
111.61
11
1967
 
3,689
0.174
21,217
134.5
2.88
110.87
11
1968
 
3,986
0.181
22,061
139.9
3.98
110.21
11
1969
 
4,258
0.189
22,551
143.0
2.22
108.34
12
1970
 
4,400
0.198
22,261
141.2
-1.29
104.82
13
1971
 
4,595
0.206
22,300
141.4
0.18
102.78
14
1972
 
4,955
0.213
23,254
147.5
4.28
102.02
15
1973
 
5,532
0.225
24,636
156.2
5.94
103.15
17
1974
 
6,152
0.248
24,814
157.3
0.72
105.42
14
1975
 
6,831
0.269
25,431
161.3
2.49
108.02
13
1976
 
7,424
0.283
26,203
166.2
3.03
107.98
12
1977
 
8,062
0.302
26,716
169.4
1.96
107.27
12
1978
 
9,101
0.323
28,196
178.8
5.54
108.91
11
1979
 
10,156
0.351
28,898
183.2
2.49
110.00
10
1980
 
11,133
0.389
28,599
181.4
-1.03
109.32
10
1981
 
12,127
0.424
28,590
181.3
-0.03
107.40
12
1982
 
12,761
0.448
28,503
180.7
-0.31
106.43
14
1983
 
13,555
0.467
29,041
184.2
1.89
106.73
12
1984
 
14,356
0.484
29,638
187.9
2.05
103.36
16
1985
 
15,076
0.501
30,075
190.7
1.48
102.24
17
1986
 
15,908
0.512
31,059
197.0
3.27
102.75
17
1987
 
16,493
0.528
31,236
198.1
0.57
101.64
18
1988
 
17,598
0.549
32,075
203.4
2.68
100.90
17
1989
 
19,007
0.573
33,194
210.5
3.49
101.87
17
1990
 
20,219
0.598
33,825
214.5
1.90
103.06
16
1991
 
21,149
0.618
34,237
217.1
1.22
105.48
15
1992
 
22,220
0.634
35,036
222.2
2.33
105.42
15
1993
 
22,836
0.650
35,132
222.8
0.27
105.17
14
1994
 
23,570
0.664
35,520
225.2
1.10
104.51
15
1995
 
24,436
0.678
36,066
228.7
1.54
103.64
16
1996
 
25,841
0.692
37,341
236.8
3.54
104.51
16
1997
 
27,245
0.704
38,697
245.4
3.63
105.09
13
1998
 
29,355
0.710
41,364
262.3
6.89
106.77
11
1999
 
30,786
0.720
42,758
271.1
3.37
107.67
11
2000
 
32,538
0.738
44,077
279.5
3.08
106.51
13
2001
 
32,986
0.753
43,805
277.8
-0.62
104.56
15
2002
 
33,222
0.763
43,547
276.1
-0.59
104.47
15
2003
 
34,267
0.779
43,991
279.0
1.02
104.92
15
2004
 
36,309
0.798
45,485
288.4
3.40
106.22
14
2005
 
37,202
0.821
45,298
287.2
-0.41
104.30
17
2006
 
39,744
0.844
47,068
298.5
3.91
105.03
15
2007
 
42,524
0.866
49,100
311.4
4.32
107.42
12
2008
 
44,098
0.892
49,454
313.6
0.72
107.94
11
2009
 
41,679
0.889
46,872
297.2
-5.22
106.03
11
2010
 
42,327
0.905
46,763
296.5
-0.23
104.36
15
2011
 
44,281
0.928
47,715
302.6
2.04
103.83
16
2012
 
47,057
0.945
49,778
315.7
4.32
106.37
14
2013
 
47,454
0.958
49,544
314.2
-0.47
106.88
13
2014
 
50,265
0.971
51,755
328.2
4.46
108.59
12
2015
 
52,415
0.973
53,870
341.6
4.09
109.06
12
2016
 
54,302
0.983
55,250
350.4
2.56
110.89
10
2017
 
56,805
1.000
56,805
360.2
2.81
111.37
9
2018
 
59,827
1.020
58,627
371.8
3.21
112.23
9
2019
 
63,405
1.035
61,254
388.4
4.48
114.15
8
2020
 
67,674
1.046
64,676
410.1
5.59
114.40
8
2021
 
74,188
1.090
68,061
431.6
5.23
115.14
7
2022
 
75,332
1.160
64,917
411.7
-4.62
115.06
8
Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_SA1400_700_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Per Capita Personal Income, 1958-2022
 
1958
 
2,160
0.151
14,336
100.0
N
1959
 
2,260
0.153
14,781
103.1
3.10
1960
 
2,321
0.155
14,934
104.2
1.04
1961
 
2,383
0.157
15,177
105.9
1.63
1962
 
2,498
0.159
15,725
109.7
3.61
1963
 
2,589
0.161
16,101
112.3
2.39
1964
 
2,735
0.163
16,770
117.0
4.16
1965
 
2,918
0.165
17,636
123.0
5.16
1966
 
3,134
0.170
18,477
128.9
4.77
1967
 
3,328
0.174
19,137
133.5
3.57
1968
 
3,617
0.181
20,017
139.6
4.59
1969
 
3,931
0.189
20,816
145.2
3.99
1970
 
4,198
0.198
21,238
148.1
2.03
1971
 
4,471
0.206
21,697
151.3
2.16
1972
 
4,857
0.213
22,793
159.0
5.05
1973
 
5,363
0.225
23,883
166.6
4.78
1974
 
5,836
0.248
23,537
164.2
-1.45
1975
 
6,324
0.269
23,544
164.2
0.03
1976
 
6,875
0.283
24,265
169.3
3.07
1977
 
7,516
0.302
24,906
173.7
2.64
1978
 
8,356
0.323
25,889
180.6
3.95
1979
 
9,232
0.351
26,271
183.2
1.47
1980
 
10,184
0.389
26,160
182.5
-0.42
1981
 
11,291
0.424
26,621
185.7
1.76
1982
 
11,990
0.448
26,781
186.8
0.60
1983
 
12,701
0.467
27,210
189.8
1.61
1984
 
13,889
0.484
28,674
200.0
5.38
1985
 
14,746
0.501
29,417
205.2
2.59
1986
 
15,482
0.512
30,227
210.8
2.75
1987
 
16,228
0.528
30,733
214.4
1.67
1988
 
17,442
0.549
31,790
221.7
3.44
1989
 
18,658
0.573
32,584
227.3
2.50
1990
 
19,619
0.598
32,821
228.9
0.73
1991
 
20,050
0.618
32,457
226.4
-1.11
1992
 
21,077
0.634
33,234
231.8
2.39
1993
 
21,713
0.650
33,405
233.0
0.51
1994
 
22,552
0.664
33,986
237.1
1.74
1995
 
23,577
0.678
34,798
242.7
2.39
1996
 
24,725
0.692
35,729
249.2
2.67
1997
 
25,925
0.704
36,822
256.8
3.06
1998
 
27,493
0.710
38,740
270.2
5.21
1999
 
28,592
0.720
39,711
277.0
2.51
2000
 
30,551
0.738
41,384
288.7
4.21
2001
 
31,548
0.753
41,895
292.2
1.23
2002
 
31,801
0.763
41,684
290.8
-0.50
2003
 
32,659
0.779
41,928
292.5
0.59
2004
 
34,183
0.798
42,821
298.7
2.13
2005
 
35,669
0.821
43,432
303.0
1.43
2006
 
37,843
0.844
44,816
312.6
3.19
2007
 
39,588
0.866
45,710
318.8
1.99
2008
 
40,854
0.892
45,816
319.6
0.23
2009
 
39,307
0.889
44,204
308.3
-3.52
2010
 
40,557
0.905
44,808
312.5
1.36
2011
 
42,649
0.928
45,956
320.6
2.56
2012
 
44,237
0.945
46,795
326.4
1.83
2013
 
44,401
0.958
46,357
323.4
-0.94
2014
 
46,287
0.971
47,659
332.4
2.81
2015
 
48,060
0.973
49,394
344.5
3.64
2016
 
48,971
0.983
49,826
347.6
0.88
2017
 
51,004
1.000
51,004
355.8
2.36
2018
 
53,309
1.020
52,240
364.4
2.42
2019
 
55,547
1.035
53,662
374.3
2.72
2020
 
59,153
1.046
56,533
394.3
5.35
2021
 
64,430
1.090
59,110
412.3
4.56
2022
 
65,470
1.160
56,419
393.5
-4.55
Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_SA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, US-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.