Iron County, Michigan Wealth Profile
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.
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Income Statistics Overview
| Metric | Iron County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,090 | $71,353 | $78,145 |
| Median Personal Income | $54,090 | $71,353 | $78,145 |
| Average income growth | 7.2% | 7.2% | 7.2% |
Household Income Trend
Median Household Income Over Time
Iron County
United States
Economic Inequality in Iron County | Gender Pay Gap | Gini Index
| Metric | Iron County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Index | 0.493 | 0.556 | 0.569 |
| Male Median Income | $54,747 | $67,497 | $67,746 |
| Female Median Income | $39,739 | $52,846 | $54,793 |
| Gender Pay Gap | 26.3% | 21.9% | 18.9% |
Income by Sex Over Time
Male
Female
Employment
| Metric | Iron County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.8% | 5.2% |
| Working from Home | 7.9% | 12.0% | 13.4% |
| Commute time (minutes) | 13 | 21 | 22 |
Unemployment Rate Over Time
Iron County
United States