Wealth Index
Less wealthy than 90% 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 | Gratiot County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,212 | $71,353 | $78,145 |
| Median Personal Income | $50,275 | $60,704 | $61,726 |
| Average income growth | 5.3% | 4.9% | 5.1% |
| Six-Figure Earners | 5.4% | 10.8% | 13.2% |
The median household income in Gratiot County is about 14% lower than in Michigan. Income has been growing faster in Gratiot County (5.3%/yr) than in Michigan (4.9%/yr).
About 5% of adults in Gratiot 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 Gratiot County, Michigan grew by 47.1% from 2009 to 2023, reaching $61,212 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Gratiot County | Gender Pay Gap | Gini Coefficient
| Metric | Gratiot County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.556 | 0.570 |
| Male Median Income | $56,936 | $67,497 | $67,746 |
| Female Median Income | $41,695 | $52,846 | $54,793 |
| Gender Pay Gap | 26.8% | 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 Gratiot County, it is 0.583, higher than Michigan's 0.556, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 37% more than women's income in Gratiot County, Michigan. Over a 35-year career, a 37% wage gap accumulates to roughly $533,435 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gratiot County, Michigan has widened from about 25% to 27% in 2023. In dollar terms, the gap has widened by $4,974 since 2009.
Employment
| Metric | Gratiot County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.8% | 5.2% |
| Working from Home | 7.1% | 12.0% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 853 people are unemployed in Gratiot County, Michigan.
The average commute time in Gratiot County is 20 minutes, shorter than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gratiot County, Michigan has fallen from 11.3% to 4.7% in 2023.
Conclusion
Considering all these factors, Gratiot 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 Gratiot County, Michigan.
How Rich Is Gratiot County, Michigan?
Gratiot 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 $61,212, about 14% lower than the Michigan average of $71,353.
What is the current median household income in Gratiot County, Michigan?
As of 2023, the median household income in Gratiot County, Michigan is $61,212.
What was the median household income in Gratiot County in 2023?
In 2023, the median household income in Gratiot County, Michigan was $61,212.
What was the median household income in Gratiot County in 2020?
In 2020, the median household income in Gratiot County, Michigan was $49,824.
What is the Gini coefficient in Gratiot County, Michigan?
The Gini coefficient in Gratiot County is 0.583. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Gratiot County, Michigan?
Since 2009, the income gap between men and women in Gratiot County, Michigan has widened from about 25% to 27% in 2023. In dollar terms, the gap has widened by $4,974 since 2009.