Economic Data

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 IncomeYear
$39,7202009
$43,0792010
$48,4932013
$49,8742015
$50,3502016

Sumter County’s Per Capita Income

Per Capita IncomeYear
$29,8332010
$33,5222011
$36,0902012
$36,9702013
$38,1162014
$39,7952015
$39,5342016

Sumter County’s Average Wage Level

Average Wage LevelYear
$37, 5582014
$35,3712015
$34,7062016
$36,2472017

Payroll Growth

According to the latest federal Bureau of Labor Statistics data, all annual payroll in Sumter grew by 28.4 percent to about $1.03 billion over a five-year period that ended in 2016. Sumter’s annual payroll probably grew year over year in 2017 by at least 6 percent, if the federal bureau’s estimates for the first three quarters remain constant through the fourth quarter, which has not been released yet.