How Prosperous Is Your Florida ZIP Code? New Data Reveals Wealth Gap

WASHINGTON, DC — Your address is becoming more of a factor in how well off you are — including the size of your paycheck and how much education you've obtained — and a new study indicates those living in the South face a tougher path to prosperity than their fellow Americans.

The widening gap in economic inequality between the top 1 percent of income-earners and everyone else was a hot-button issue in last year's presidential election, and the disparity appears to apply within smaller communities, as well — a troubling trend as Americans are less able now than at any point in modern history to uproot their lives and relocate to greener pastures, according to the 2017 Distressed Communities Index by the Economic Innovation Group. (Subscribe to Florida Patch News Alerts and Newsletters. Or, if you have an iPhone, download the free Patch app.)

"America’s elite zip codes are home to a spectacular degree of growth and prosperity— hubs of innovation and progress seemingly immune to the concerns over automation, globalization, or lack of upward mobility that pervade national headlines," the study said. "However, outside of those top communities, economic well-being is often tenuous at best. And, at worst, millions of Americans are stuck in places where what little economic stability exists is quickly eroding beneath their feet."

Axios published the report along with a nifty tool for breaking down prosperity right to individual ZIP codes.About 52 million people live in economically "distressed" ZIP codes, and most of those areas were concentrated in the South, particularly Mississippi and Alabama.

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Among the factors that distress scores considered were the number of people at least 25 years old who don't have the equivalent of a high school diploma, the number of people living below the poverty line and how many jobs did the area gain from 2011 to 2015. In the average distressed ZIP code, 6 percent of jobs were lost, and business establishments fell by 6.3 percent.

The study looked at the relationship between the well-being of a particular community and various important factors, including people’s health, public assistance spending, demographics and political representation. There's a widening gap in the "economic and social experience" of the country's most distressed communities from the nation as a whole, the study found.

Well-off areas saw 57 percent of the country's rise in businesses and 52 percent of employment growth.

“Economic inequality in America translates into opportunity gaps for too many communities,” Steve Glickman, co-founder and executive director of the Economic Innovation Group, said in a release. “Unless policymakers in both parties reframe their priorities, economically distressed communities will continue to experience a downward spiral that results in a loss of faith in the American dream and less healthy and fulfilling lives.”

To see how your ZIP code and city fared, check out the interactive maps below:

Photo via Pixabay