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 | Inkster | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $39,789 | $71,353 | $78,145 |
| Median Personal Income | $43,992 | $60,704 | $61,726 |
| Average income growth | 3.4% | 4.9% | 5.1% |
| Six-Figure Earners | 4.1% | 10.8% | 13.2% |
The median household income in Inkster is about 44% lower than in Michigan. Income has been growing slower in Inkster (3.4%/yr) than in Michigan (4.9%/yr).
About 4% of adults in Inkster 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 Inkster, Michigan grew by 15.6% from 2009 to 2023, reaching $39,789 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Inkster | Gender Pay Gap | Gini Coefficient
| Metric | Inkster | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.556 | 0.570 |
| Male Median Income | $42,900 | $67,497 | $67,746 |
| Female Median Income | $45,021 | $52,846 | $54,793 |
| Gender Pay Gap | -4.9% | 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 Inkster, it is 0.522, 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.
Women's income is about 5% more than men's income in Inkster, Michigan. Over a 35-year career, a 5% wage gap accumulates to roughly $74,235 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Inkster, Michigan has narrowed from about 21% to -5% in 2023. In dollar terms, the gap has narrowed by $10,771 since 2009.
Employment
| Metric | Inkster | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 12.8% | 5.8% | 5.2% |
| Working from Home | 7.3% | 12.0% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 1,452 people are unemployed in Inkster, Michigan.
The average commute time in Inkster is 23 minutes, longer than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Inkster, Michigan has fallen from 20.0% to 12.8% in 2023.
Conclusion
Considering all these factors, Inkster, 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 Inkster, Michigan.
How Wealthy Is Inkster, Michigan?
Inkster 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 $39,789, about 44% lower than the Michigan average of $71,353.
What is the current median household income in Inkster, Michigan?
As of 2023, the median household income in Inkster, Michigan is $39,789.
What was the median household income in Inkster in 2023?
In 2023, the median household income in Inkster, Michigan was $39,789.
What was the median household income in Inkster in 2020?
In 2020, the median household income in Inkster, Michigan was $32,564.
What is the Gini coefficient in Inkster, Michigan?
The Gini coefficient in Inkster is 0.522. 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 Inkster, Michigan?
Since 2009, the income gap between men and women in Inkster, Michigan has narrowed from about 21% to -5% in 2023. In dollar terms, the gap has narrowed by $10,771 since 2009.