Walton County vs. Florida
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Walton County vs. Florida
Walton County:
2022 PCI = $88,228
2022 Percent of State = 136.14%
Florida:
2022 PCI = $64,806
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:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
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 counties 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 counties 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.
Walton County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Walton County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Walton County's annual per capita personal income over 1970-2022 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 Walton County over time.
When measured in current dollars, Walton County's per capita personal income increased 3,322.56%, from $2,578 in 1970 to $88,228 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 482.98%, from $13,042 in 1970 to $76,030 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Walton County's and Florida's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Walton County's real per capita personal income rose from $12,377 in 1969 to $76,030 in 2022, for a net gain of $63,653, or 514.28%. In comparison, Florida's real per capita personal income increased from $19,940 in 1969 to $55,847 in 2022, for a net gain of $35,907, or 180.08%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Walton County's real per capita personal income growth in a broader context by offering direct comparisons across time with Florida, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 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.
Walton County's overall real per capita personal income growth was 514.28% over 1969-2022 outpaced Florida's increase of 180.08%, and topped the United States' increase of 171.04%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 portrays the trends for per capita personal income relative to the national average by tracing Walton County and Florida per capita personal income as a percent of the national average over 1969-2022.
In 1969, Walton County's per capita personal income amounted to 59.46% of the national average; in 2022, it approximated 134.76%. Similarly, in 1969, Florida's per capita personal income totaled 95.79% of the national average; in 2022, it consisted of 98.99%.
Walton County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Walton County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Walton County's real per capita personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-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, Walton County's real per capita personal income grew at an annual rate of 3.56% over 1970-2022. The county posted its highest growth in 2004 (14.43%) and recorded its lowest growth in 1980 (-3.46%). In 2022, Walton County's real per capita personal income declined by -2.47%
Walton County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Walton County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in Walton County's real per capita personal income since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Walton County's annual real per capita personal income growth rate averaged 3.61%. It averaged 1.51% during the 1980s, 2.76% throughout the 1990s, 4.56% in the 2000s, 5.21% during the 2010s, 3.99% 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 Walton County noted in the previous graph with the corresponding decade averages for Florida and the nation. As the chart reveals, Walton County's average annual real per capita personal income growth topped Florida's average in the 1970s (3.61% vs. 2.51%), fell below Florida's average throughout the 1980s (1.51% vs. 2.73%), outpaced Florida's average throughout the 1990s (2.76% vs. 1.46%), outperformed Florida's average during the 2000s (4.56% vs. 0.78%), outgained Florida's average during the 2010s (5.21% vs. 2.30%), and recorded above Florida's average over the 3 year period of the current decade, 2020-2022 (3.99% vs. 2.62%).
Finally, relative to nationwide real per capita personal income growth trends, Walton County led the nation during the 1970s (3.61% vs. 2.37%), trailed the nation over the 1980s (1.51% vs. 2.19%), outpaced the nation in the 1990s (2.76% vs. 2.01%), exceeded the nation throughout the 2000s (4.56% vs. 1.10%), recorded above the nation throughout the 2010s (5.21% vs. 1.97%), and exceeded the nation over 2020-2022 (3.99% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
3.56
3.61
1.51
2.76
4.56
5.21
3.99
-2.47
 
1.99
2.51
2.73
1.46
0.78
2.30
2.62
-3.50
 
1.92
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.

   
 
Walton County:
Per Capita Personal Income, 1969-2022
 
1969
 
2,337
0.189
12,377
100.0
N
62.07
59.46
1970
 
2,578
0.198
13,042
105.4
5.37
62.41
61.41
1971
 
2,841
0.206
13,790
111.4
5.73
64.09
63.56
1972
 
3,235
0.213
15,182
122.7
10.10
66.56
66.61
1973
 
3,702
0.225
16,485
133.2
8.58
68.92
69.02
1974
 
4,085
0.248
16,476
133.1
-0.06
70.95
70.00
1975
 
4,382
0.269
16,314
131.8
-0.98
71.75
69.29
1976
 
4,655
0.283
16,429
132.7
0.71
70.99
67.71
1977
 
4,829
0.302
16,003
129.3
-2.59
67.24
64.26
1978
 
5,580
0.323
17,287
139.7
8.02
69.19
66.77
1979
 
6,147
0.351
17,491
141.3
1.18
68.75
66.58
1980
 
6,573
0.389
16,886
136.4
-3.46
64.74
64.55
1981
 
7,304
0.424
17,220
139.1
1.97
64.42
64.68
1982
 
7,702
0.448
17,204
139.0
-0.09
64.59
64.24
1983
 
8,174
0.467
17,513
141.5
1.80
63.61
64.36
1984
 
9,117
0.484
18,822
152.1
7.47
65.55
65.64
1985
 
9,501
0.501
18,954
153.1
0.70
64.14
64.43
1986
 
9,965
0.512
19,455
157.2
2.64
63.89
64.36
1987
 
9,951
0.528
18,845
152.3
-3.13
60.93
61.32
1988
 
10,781
0.549
19,651
158.8
4.28
61.33
61.82
1989
 
11,579
0.573
20,221
163.4
2.90
60.76
62.06
1990
 
12,691
0.598
21,231
171.5
4.99
64.21
64.69
1991
 
13,099
0.618
21,205
171.3
-0.12
65.14
65.33
1992
 
14,104
0.634
22,239
179.7
4.88
67.77
66.92
1993
 
15,057
0.650
23,165
187.2
4.16
69.63
69.35
1994
 
15,576
0.664
23,473
189.6
1.33
69.88
69.07
1995
 
16,436
0.678
24,259
196.0
3.35
70.05
69.71
1996
 
17,013
0.692
24,584
198.6
1.34
69.60
68.81
1997
 
17,425
0.704
24,749
200.0
0.67
68.61
67.21
1998
 
18,449
0.710
25,996
210.0
5.04
68.56
67.10
1999
 
19,087
0.720
26,510
214.2
1.98
69.00
66.76
2000
 
20,438
0.738
27,686
223.7
4.43
69.55
66.90
2001
 
22,156
0.753
29,422
237.7
6.27
72.87
70.23
2002
 
23,570
0.763
30,895
249.6
5.01
76.49
74.12
2003
 
25,847
0.779
33,182
268.1
7.40
81.33
79.14
2004
 
30,312
0.798
37,971
306.8
14.43
89.93
88.67
2005
 
32,906
0.821
40,067
323.7
5.52
92.08
92.25
2006
 
35,916
0.844
42,535
343.7
6.16
94.49
94.91
2007
 
35,692
0.866
41,211
333.0
-3.11
91.09
90.16
2008
 
36,846
0.892
41,321
333.8
0.27
94.03
90.19
2009
 
36,448
0.889
40,990
331.2
-0.80
99.11
92.73
2010
 
39,804
0.905
43,976
355.3
7.28
102.65
98.14
2011
 
42,643
0.928
45,950
371.2
4.49
105.47
99.99
2012
 
46,314
0.945
48,992
395.8
6.62
112.40
104.69
2013
 
45,895
0.958
47,916
387.1
-2.19
112.67
103.36
2014
 
48,591
0.971
50,031
404.2
4.41
113.36
104.98
2015
 
51,804
0.973
53,242
430.2
6.42
115.26
107.79
2016
 
55,338
0.983
56,304
454.9
5.75
121.04
113.00
2017
 
58,995
1.000
58,995
476.6
4.78
121.79
115.67
2018
 
64,078
1.020
62,792
507.3
6.44
125.62
120.20
2019
 
70,292
1.035
67,906
548.6
8.14
131.04
126.54
2020
 
73,458
1.046
70,204
567.2
3.38
129.87
124.18
2021
 
84,975
1.090
77,958
629.9
11.05
134.71
131.89
2022
 
88,228
1.160
76,030
614.3
-2.47
136.14
134.76
Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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, 1969-2022
 
1969
 
3,765
0.189
19,940
100.0
N
95.79
1970
 
4,131
0.198
20,898
104.8
4.81
98.40
1971
 
4,433
0.206
21,516
107.9
2.96
99.17
1972
 
4,860
0.213
22,809
114.4
6.01
100.07
1973
 
5,371
0.225
23,920
120.0
4.87
100.15
1974
 
5,757
0.248
23,221
116.5
-2.92
98.66
1975
 
6,107
0.269
22,738
114.0
-2.08
96.58
1976
 
6,557
0.283
23,141
116.1
1.77
95.37
1977
 
7,182
0.302
23,802
119.4
2.85
95.57
1978
 
8,064
0.323
24,983
125.3
4.96
96.50
1979
 
8,941
0.351
25,443
127.6
1.84
96.85
1980
 
10,153
0.389
26,082
130.8
2.51
99.70
1981
 
11,337
0.424
26,729
134.0
2.48
100.40
1982
 
11,924
0.448
26,634
133.6
-0.36
99.45
1983
 
12,850
0.467
27,531
138.1
3.37
101.18
1984
 
13,908
0.484
28,713
144.0
4.29
100.14
1985
 
14,814
0.501
29,552
148.2
2.92
100.46
1986
 
15,597
0.512
30,452
152.7
3.05
100.75
1987
 
16,330
0.528
30,927
155.1
1.56
100.63
1988
 
17,580
0.549
32,043
160.7
3.61
100.80
1989
 
19,057
0.573
33,281
166.9
3.86
102.14
1990
 
19,765
0.598
33,065
165.8
-0.65
100.74
1991
 
20,109
0.618
32,552
163.3
-1.55
100.29
1992
 
20,812
0.634
32,816
164.6
0.81
98.74
1993
 
21,623
0.650
33,267
166.8
1.37
99.59
1994
 
22,289
0.664
33,590
168.5
0.97
98.83
1995
 
23,464
0.678
34,632
173.7
3.10
99.52
1996
 
24,443
0.692
35,321
177.1
1.99
98.86
1997
 
25,397
0.704
36,071
180.9
2.12
97.96
1998
 
26,909
0.710
37,917
190.2
5.12
97.88
1999
 
27,662
0.720
38,418
192.7
1.32
96.74
2000
 
29,387
0.738
39,808
199.6
3.62
96.19
2001
 
30,405
0.753
40,378
202.5
1.43
96.38
2002
 
30,815
0.763
40,392
202.6
0.04
96.90
2003
 
31,779
0.779
40,797
204.6
1.00
97.30
2004
 
33,706
0.798
42,224
211.8
3.50
98.61
2005
 
35,736
0.821
43,513
218.2
3.05
100.19
2006
 
38,009
0.844
45,013
225.7
3.45
100.44
2007
 
39,184
0.866
45,244
226.9
0.51
98.98
2008
 
39,185
0.892
43,944
220.4
-2.87
95.92
2009
 
36,777
0.889
41,359
207.4
-5.88
93.56
2010
 
38,778
0.905
42,842
214.9
3.59
95.61
2011
 
40,433
0.928
43,568
218.5
1.69
94.80
2012
 
41,204
0.945
43,586
218.6
0.04
93.14
2013
 
40,733
0.958
42,527
213.3
-2.43
91.74
2014
 
42,865
0.971
44,136
221.3
3.78
92.61
2015
 
44,945
0.973
46,193
231.7
4.66
93.52
2016
 
45,720
0.983
46,518
233.3
0.70
93.36
2017
 
48,439
1.000
48,439
242.9
4.13
94.97
2018
 
51,009
1.020
49,986
250.7
3.19
95.69
2019
 
53,640
1.035
51,820
259.9
3.67
96.57
2020
 
56,561
1.046
54,055
271.1
4.31
95.62
2021
 
63,078
1.090
57,870
290.2
7.06
97.90
2022
 
64,806
1.160
55,847
280.1
-3.50
98.99
Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_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, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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