Wealth Index
Wealthier than 85% of counties in Michigan
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Allegan County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,734 | $71,353 | $78,145 |
| Median Personal Income | $58,110 | $60,704 | $61,726 |
| Average income growth | 5.4% | 4.9% | 5.1% |
| Six-Figure Earners | 9.1% | 10.8% | 13.2% |
The median household income in Allegan County is about 13% higher than in Michigan. Income has been growing faster in Allegan County (5.4%/yr) than in Michigan (4.9%/yr).
About 9% of adults in Allegan County earn six figures ($100,000 or more) a year, lower than the Michigan average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Allegan County, Michigan grew by 56.7% from 2009 to 2023, reaching $80,734 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Allegan County | Gender Pay Gap | Gini Coefficient
| Metric | Allegan County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.556 | 0.570 |
| Male Median Income | $64,036 | $67,497 | $67,746 |
| Female Median Income | $48,722 | $52,846 | $54,793 |
| Gender Pay Gap | 23.9% | 21.7% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Allegan County, it is 0.521, lower than Michigan's 0.556, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 31% more than women's income in Allegan County, Michigan. Over a 35-year career, a 31% wage gap accumulates to roughly $535,990 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Allegan County, Michigan has narrowed from about 28% to 24% in 2023. In dollar terms, the gap has widened by $2,273 since 2009.
Employment
| Metric | Allegan County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 5.8% | 5.2% |
| Working from Home | 9.0% | 12.0% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 1,791 people are unemployed in Allegan County, Michigan.
The average commute time in Allegan County is 21 minutes, about the same as in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Allegan County, Michigan has fallen from 8.3% to 3.0% in 2023.
Conclusion
Considering all these factors, Allegan County, Michigan has an overall wealth index grade of B, making it somewhat better than Michigan, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Allegan County, Michigan.
How Wealthy Is Allegan County, Michigan?
Allegan County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $80,734, about 13% higher than the Michigan average of $71,353.
What is the current median household income in Allegan County, Michigan?
As of 2023, the median household income in Allegan County, Michigan is $80,734.
What was the median household income in Allegan County in 2023?
In 2023, the median household income in Allegan County, Michigan was $80,734.
What was the median household income in Allegan County in 2020?
In 2020, the median household income in Allegan County, Michigan was $65,104.
What is the Gini coefficient in Allegan County, Michigan?
The Gini coefficient in Allegan County is 0.521. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Allegan County, Michigan?
Since 2009, the income gap between men and women in Allegan County, Michigan has narrowed from about 28% to 24% in 2023. In dollar terms, the gap has widened by $2,273 since 2009.