Margate Average Income, Population and Demographics
Are you tired of spending 10+ hours searching for demographic and population data for Margate, Florida? We have all of the data you need by state, county, city, and zip code that will save you many hours of research!
In this article, we'll explore most of the 190+ data points we have for Margate, covering popular demographics statistics like household income, race, age and gender, educational attainment, poverty, housing, and transportation.
The data on this page is from the 2022 American Community Survey (ACS) 5-Year survey from the US Census Bureau.
Median Household Income
According to the latest ACS 5-year survey in 2022, the median household income in Margate is $56,324.00.
The chart below shows the average household income by age in Margate.
Average Household Income
A very commonly asked question is "what is the average household income in Margate, Florida?". The official term for the average household income is the mean household income. The mean household income is the total income of all households divided by the number of households.
The average (or mean) household income in Margate is $73,520.00.
3.69% of households in Margate, Florida are classed as high income households (making $200,000+ per year).
The difference between a median and an average income
The difference between a median and mean household income is that the median income is the middle point of the set of numbers whereas the mean income is an average of all numbers.
Both metrics are important when looking at the income statistics for Margate but because the median value doesn't depend on other numbers in the dataset, it doesn't change as much when some of the values are extremely low or extremely high.
Household Income Tiers for Margate
We can also look at the household income tiers. This lets you see how many households fall into each of the earnings brackets and what percentage that bracket is of the total number of households.
The chart below shows the household income brackets to see which age groups have the highest median income. The actual data is more granular than these brackets, but we've simplified them into bigger categories to make reviewing the data for Margate, Florida easier to view.
You can purchase the raw data above, which will have the full income tiers with smaller jumps in household income.
Per Capita Income
The per capita income is the average income of all people in Margate, Florida. This is calculated by dividing the total income of all people in Margate by the total number of people in Margate.
It differs from the average or mean household income because it includes all people in Margate and not just the people who earn an income (i.e. children, retirees, unemployed, etc.).
The per capita income in Margate, Florida is $32,707.00.
Population in Margate by Race and Ethnicity
The total population in Margate is currently 58,396 people.
The race and ethnicity of the population in Margate can be very important for social research, economics, and marketing to a multi-culturial society.
Whether you want to target products or services to a particular race or ethnicity, or provide housing and new businesses to improve areas with a larger ethnic minority population, this data is very valuable for discovering suitable areas.
The chart below breaks down the population and percentage for each race and ethnicity in Margate, Florida.
Population of Margate by Age and Gender
Another very important demographics statistic for Margate, Florida is the age and gender of the population. The age and gender of the population can be used to track trends in population growth or decline, and for businesses, the data can be used to identify people important to you and your business need.
In the table below, we show age groups at a 10 year granularity for ease of use. The raw data, which can be purchased above, includes age and gender at a 5 year granularity.
Education Levels
Educational attainment is a very useful statistic that can give insights into other data such as the average household income, unemployment levels, and literacy.
What this means is that it is likely for areas that have higher levels of education to have higher average household incomes, lower unemployment rates, and higher literacy rates.
The chart below shows the educational attainment of the population in Margate, Florida.
Unemployment Rates
The unemployment rate is the percentage of the population that is actively looking for work but is unable to find a job. The unemployment rate is a very important statistic for Margate because it can show how many people are actively looking for work and how many people are unable to find a job.
Lower levels of unemployment is generally seen as a positive sign for the economy. It also makes the government in Margate look good because it shows that they are doing a good job of creating jobs, working to capacity, being efficient, and keeping the economy strong.
The unemployment rate is calculated using the total population in Margate, Florida that are over the age of 16.
The current population in Margate that are over the age of 16 is 49,864 people.
The unemployment rate in Margate is 4.20%, which means 1,339 people are unemployed.
Median Age in Margate
The median age is an interesting metric because it gives us an idea of the age distribution of people in Margate, Florida. You know when you see a median age that it is the age where half of the population is older and half is younger than it.
For demographic studies, this can be used to infer and compare date to things such as birth rates, the age of parents, and so on.
An increasing median age can be a sign of an aging population, which can be a sign of a declining population. This is because older people tend to have fewer children and die more often than younger people.
The median age in Margate is 46.8 years old.
We can also look at the median age by gender to compare the see how each group compares to the total median age:
Median age by gender in Margate
46.8
Total
44.2
Male
48.9
Female
Households and Families
There are a total of 25,468 households in Margate, and the average household size is 2.28 people.
For families, the total number is 15,307, and the average family size is 2.98 people.
9.10% of those families in Margate, Florida are living below the poverty line.
The table below shows the poverty thresholds for Margate in .
Please note that the poverty thresholds shown above are from , while the latest demographics data we have is from 2022.
Households and Families by Marital Status
There are four types of household and family, as defined by the Census Bureau:
- Married-couple
- Male householder, no spouse present
- Female householder, no spouse present
- Nonfamily household
In the table below, you can see the total households and families in Margate, Florida for each type, as well as the average sizes.
Housing Data in Margate
There are total of 27,911 housing units in Margate, Florida. Of those units, 25,468 (91.25%) are occupied, and 2,443 (8.75%) are vacant.
Rental Rates
Of the 27,911 housing units in Margate, 5,894 (21.12%) are occupied by renters. The median rent paid by renters is $1,513.00.
Owner occupied housing units make up the remaining 69.81% of housing units, with 19,484 housing units in total.
The table below breaks down how much rent is paid by renters in Margate, Florida.
Property Values
The median value of a property in Margate is $262,100.00.
The table below breaks down the range of valuations for all properties in Margate.
Property Age
We can also look at the number of properties built in a given year to see the spread of property age in Margate, Florida.
Vehicles Available per Household
Finally, we have data on how many vehicles each household in Margate has. The table below breaks down the number of vehicles available per household.
Commuting to Work in Margate
The time and means of commuting to work are useful metrics to look at because they can be correlated against other data such as income and education level.
Does a longer commuting time indicate a higher average income? If so, has the huge increase in home working during the pandemic changed this?
Using these metrics, we can get a better understanding of the demographics of Margate, Florida, how they commute, and how that correlates to other data points.
The average travel time is 28.9 minutes, and the chart below covers the range of travel times across the population of Margate.
We can also look at the means of transport in Margate to see which modes of transport people are using to commute to work.
Conclusion
Hopefully this article has given you the demographics data you were looking for in Margate, Florida.
If you need more demographics data, or you need the data listed above in spreadsheet form with more granular grouping, head back to the top of this page where you can purchase the complete demographics data for Margate.
Link To or Reference This Page
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"Margate Average Income, Population and Demographics". NameCensus.com. Accessed on April 26, 2024. https://namecensus.com/demographics/florida/broward-county/margate/.
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"Margate Average Income, Population and Demographics". NameCensus.com, https://namecensus.com/demographics/florida/broward-county/margate/. Accessed 26 April, 2024
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Margate Average Income, Population and Demographics. NameCensus.com. Retrieved from https://namecensus.com/demographics/florida/broward-county/margate/.