Holland, Michigan Income Statistics
Holland Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Holland Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Holland | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,719 | $72,977 | $80,455 |
| Median Personal Income | $50,343 | $59,920 | $60,758 |
| Average Yearly Income Growth | 5.2% | 4.6% | 4.8% |
| Six-Figure Earners | 7.9% | 11.4% | 13.9% |
| $200k+ Households | 6.9% | 9.5% | 13.2% |
The median household income in Holland is about 4% higher than in Michigan. Income has been growing faster in Holland (5.2%/yr) than in Michigan (4.6%/yr).
About 8% of adults in Holland earn six figures ($100,000 or more) a year, lower than the Michigan average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Holland, Michigan grew by 64.5% from 2009 to 2024, reaching $75,719 in 2024. That's an average of about 5.2% per year.
Income Inequality and the Gender Pay Gap in Holland
| Metric | Holland | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.539 | 0.552 |
| Male Median Income | $57,468 | $69,354 | $69,667 |
| Female Median Income | $43,403 | $54,749 | $56,850 |
| Gender Pay Gap | 24.5% | 21.1% | 18.4% |
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 Holland, it is 0.521, lower than Michigan's 0.539, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 32% more than women's income in Holland, Michigan. Over a 35-year career, a 32% wage gap accumulates to roughly $492,275 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Holland, Michigan has widened from about 23% to 24% in 2024. Over that period the gap was widest at 27% in 2010, and was narrowest at 14% in 2015. In dollar terms, the gap has widened by $4,883 since 2009.
Sharply against the trend: the pay gap in Holland widened by 1.7 points while Michigan's narrowed by 7.0 points.
Employment
| Metric | Holland | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 5.7% | 5.2% |
| Working from Home | 8.7% | 13.5% | 15.0% |
| Commute time (minutes) | 13 | 21 | 22 |
Approximately 461 people are unemployed in Holland, Michigan.
The average commute time in Holland is 13 minutes, shorter than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Holland, Michigan has fallen from 8.8% to 2.5% in 2024. Over that period the rate peaked at 9.5% in 2013 and fell as low as 2.1% in 2023.
Conclusion
Considering all these factors, Holland, 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 Holland, Michigan.
How Rich Is Holland, Michigan?
Holland 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 $75,719, about 4% higher than the Michigan average of $72,977.
How fast is household income rising in Holland, Michigan?
Between 2009 and 2024, the median household income in Holland, Michigan rose 65%, from $46,020 to $75,719. Over the same years, income here outpaced Michigan as a whole: +65% against +50%.
What was the median household income in Holland in 2023?
In 2023, the median household income in Holland, Michigan was $72,955, up 5% from $69,537 in 2022. The Michigan median that year was $71,362.
What was the median household income in Holland in 2020?
In 2020, the median household income in Holland, Michigan was $58,539. By 2024 it had risen 29% to $75,719.
Is unemployment high in Holland, Michigan?
Unemployment in Holland, Michigan is only 2.5%, well below the Michigan rate of 5.7%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Holland, Michigan?
The Gini coefficient in Holland 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Holland, Michigan?
Since 2009, the income gap between men and women in Holland, Michigan has widened from about 23% to 24% in 2024. Over that period the gap was widest at 27% in 2010, and was narrowest at 14% in 2015. In dollar terms, the gap has widened by $4,883 since 2009.
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