Wealth Index
Among the 5 least wealthy 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 | Chippewa County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,245 | $71,353 | $78,145 |
| Median Personal Income | $48,012 | $60,704 | $61,726 |
| Average income growth | 5.3% | 4.9% | 5.1% |
| Six-Figure Earners | 5.3% | 10.8% | 13.2% |
The median household income in Chippewa County is about 14% lower than in Michigan. Income has been growing faster in Chippewa County (5.3%/yr) than in Michigan (4.9%/yr).
About 5% of adults in Chippewa 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 Chippewa County, Michigan grew by 52.8% from 2009 to 2023, reaching $61,245 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Chippewa County | Gender Pay Gap | Gini Coefficient
| Metric | Chippewa County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.565 | 0.556 | 0.570 |
| Male Median Income | $49,693 | $67,497 | $67,746 |
| Female Median Income | $44,631 | $52,846 | $54,793 |
| Gender Pay Gap | 10.2% | 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 Chippewa County, it is 0.565, higher than Michigan's 0.556, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 11% more than women's income in Chippewa County, Michigan. Over a 35-year career, a 11% wage gap accumulates to roughly $177,170 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chippewa County, Michigan has narrowed from about 26% to 10% in 2023. In dollar terms, the gap has narrowed by $5,639 since 2009.
Employment
| Metric | Chippewa County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 5.8% | 5.2% |
| Working from Home | 6.9% | 12.0% | 13.4% |
| Commute time (minutes) | 13 | 21 | 22 |
Approximately 1,004 people are unemployed in Chippewa County, Michigan.
The average commute time in Chippewa County is 13 minutes, shorter than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chippewa County, Michigan has fallen from 14.0% to 6.1% in 2023.
Conclusion
Considering all these factors, Chippewa County, Michigan has an overall wealth index grade of D, making it somewhat worse than Michigan, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chippewa County, Michigan.
How Rich Is Chippewa County, Michigan?
Chippewa County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,245, about 14% lower than the Michigan average of $71,353.
What is the current median household income in Chippewa County, Michigan?
As of 2023, the median household income in Chippewa County, Michigan is $61,245.
What was the median household income in Chippewa County in 2023?
In 2023, the median household income in Chippewa County, Michigan was $61,245.
What was the median household income in Chippewa County in 2020?
In 2020, the median household income in Chippewa County, Michigan was $50,690.
What is the Gini coefficient in Chippewa County, Michigan?
The Gini coefficient in Chippewa County is 0.565. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Chippewa County, Michigan?
Since 2009, the income gap between men and women in Chippewa County, Michigan has narrowed from about 26% to 10% in 2023. In dollar terms, the gap has narrowed by $5,639 since 2009.