Wealth Index
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 | Branch County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,914 | $71,353 | $78,145 |
| Median Personal Income | $49,143 | $60,704 | $61,726 |
| Average income growth | 4.5% | 4.9% | 5.1% |
| Six-Figure Earners | 5.5% | 10.8% | 13.2% |
The median household income in Branch County is about 12% lower than in Michigan. Income has been growing slower in Branch County (4.5%/yr) than in Michigan (4.9%/yr).
About 5% of adults in Branch 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 Branch County, Michigan grew by 42.7% from 2009 to 2023, reaching $62,914 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Branch County | Gender Pay Gap | Gini Coefficient
| Metric | Branch County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.525 | 0.556 | 0.570 |
| Male Median Income | $53,784 | $67,497 | $67,746 |
| Female Median Income | $44,022 | $52,846 | $54,793 |
| Gender Pay Gap | 18.1% | 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 Branch County, it is 0.525, 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 22% more than women's income in Branch County, Michigan. Over a 35-year career, a 22% wage gap accumulates to roughly $341,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Branch County, Michigan has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $1,394 since 2009.
Employment
| Metric | Branch County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 5.8% | 5.2% |
| Working from Home | 5.0% | 12.0% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 1,049 people are unemployed in Branch County, Michigan.
The average commute time in Branch County is 18 minutes, shorter than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Branch County, Michigan has fallen from 11.7% to 5.2% in 2023.
Conclusion
Considering all these factors, Branch County, Michigan has an overall wealth index grade of C, making it about on par with Michigan, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Branch County, Michigan.
How Rich Is Branch County, Michigan?
Branch County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $62,914, about 12% lower than the Michigan average of $71,353.
What is the current median household income in Branch County, Michigan?
As of 2023, the median household income in Branch County, Michigan is $62,914.
What was the median household income in Branch County in 2023?
In 2023, the median household income in Branch County, Michigan was $62,914.
What was the median household income in Branch County in 2020?
In 2020, the median household income in Branch County, Michigan was $52,849.
What is the Gini coefficient in Branch County, Michigan?
The Gini coefficient in Branch County is 0.525. 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 Branch County, Michigan?
Since 2009, the income gap between men and women in Branch County, Michigan has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $1,394 since 2009.