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 | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,500 | $71,353 | $78,145 |
| Median Personal Income | $50,875 | $60,704 | $61,726 |
| Average income growth | 5.2% | 4.9% | 5.1% |
| Six-Figure Earners | 5.9% | 10.8% | 13.2% |
The median household income in Kalkaska County is about 15% lower than in Michigan. Income has been growing faster in Kalkaska County (5.2%/yr) than in Michigan (4.9%/yr).
About 6% of adults in Kalkaska 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 Kalkaska County, Michigan grew by 54.0% from 2009 to 2023, reaching $60,500 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Kalkaska County | Gender Pay Gap | Gini Coefficient
| Metric | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.556 | 0.570 |
| Male Median Income | $54,283 | $67,497 | $67,746 |
| Female Median Income | $44,191 | $52,846 | $54,793 |
| Gender Pay Gap | 18.6% | 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 Kalkaska County, it is 0.533, 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.
Men's income is about 23% more than women's income in Kalkaska County, Michigan. Over a 35-year career, a 23% wage gap accumulates to roughly $353,220 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kalkaska County, Michigan has narrowed from about 30% to 19% in 2023. In dollar terms, the gap has narrowed by $1,594 since 2009.
Employment
| Metric | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 5.8% | 5.2% |
| Working from Home | 6.6% | 12.0% | 13.4% |
| Commute time (minutes) | 25 | 21 | 22 |
Approximately 346 people are unemployed in Kalkaska County, Michigan.
The average commute time in Kalkaska County is 25 minutes, longer than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kalkaska County, Michigan has fallen from 15.8% to 4.3% in 2023.
Conclusion
Considering all these factors, Kalkaska County, 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 Kalkaska County, Michigan.
How Rich Is Kalkaska County, Michigan?
Kalkaska County 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 $60,500, about 15% lower than the Michigan average of $71,353.
What is the current median household income in Kalkaska County, Michigan?
As of 2023, the median household income in Kalkaska County, Michigan is $60,500.
What was the median household income in Kalkaska County in 2023?
In 2023, the median household income in Kalkaska County, Michigan was $60,500.
What was the median household income in Kalkaska County in 2020?
In 2020, the median household income in Kalkaska County, Michigan was $49,567.
What is the Gini coefficient in Kalkaska County, Michigan?
The Gini coefficient in Kalkaska County is 0.533. 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 Kalkaska County, Michigan?
Since 2009, the income gap between men and women in Kalkaska County, Michigan has narrowed from about 30% to 19% in 2023. In dollar terms, the gap has narrowed by $1,594 since 2009.