Fitch Rating Service affirms in a May 2017 Sumter County report: “Fitch upgraded Sumter’s industrial revenue and general revenue bonds to AA+ from AA-. The general obligation (GO) rating Outlook to Positive from Stable reflects the area economy’s continued growth and diversification and maintenance of robust financial operations.” Sumter maintains a Dunn & Bradstreet A and A+ rated county economy and bond rating.
Sumter County’s Median HH Income
Sumter County Median Household Income equaled $48,493 in 2013, boasting a 16.9% gain since 2010, and again ranking Sumter County first among Florida counties, this time in the category of Growth of Median Household Income.
|Median HH Income||Year|
Sumter County’s Per Capita Income
|Per Capita Income||Year|
Sumter County’s Average Wage Level
|Average Wage Level||Year|
Sources of Income
When studying the sources of income within the county an interesting trend emerges. Total earnings rose nearly 58% over the past 5 years to a total of $921.4 Million, (making Sumter the number one County in the state for 5 yr. growth in total income).
An equally impressive increase has occurred in transfer income (retirement income). The total transfer payments in the county, derived from Sumter’s large and growing population of retirees, grew more than 69% over the previous 5 years to a substantial $785 Million, ranking Sumter the number one County in the state for growth in the category of Transfer Payments. This indicates money flowing into the county from other parts of the United States, through means other than the sale of goods and services, nearly equaled that of revenue generated through the actual sales of goods and services.