Wealth Index
Wealthier 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 | Midland County | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $77,596 | $71,353 | $78,145 |
| Median Personal Income | $65,329 | $60,704 | $61,726 |
| Average income growth | 4.8% | 4.9% | 5.1% |
| Six-Figure Earners | 13.0% | 10.8% | 13.2% |
The median household income in Midland County is about 9% higher than in Michigan. Income has been growing slower in Midland County (4.8%/yr) than in Michigan (4.9%/yr).
About 13% of adults in Midland County earn six figures ($100,000 or more) a year, higher than the Michigan average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Midland County, Michigan grew by 54.0% from 2009 to 2023, reaching $77,596 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Midland County | Gender Pay Gap | Gini Coefficient
| Metric | Midland County | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.559 | 0.556 | 0.570 |
| Male Median Income | $72,151 | $67,497 | $67,746 |
| Female Median Income | $57,748 | $52,846 | $54,793 |
| Gender Pay Gap | 20.0% | 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 Midland County, it is 0.559, about the same as Michigan's 0.556, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 25% more than women's income in Midland County, Michigan. Over a 35-year career, a 25% wage gap accumulates to roughly $504,105 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Midland County, Michigan has narrowed from about 32% to 20% in 2023. In dollar terms, the gap has narrowed by $2,287 since 2009.
Employment
| Metric | Midland County | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 5.8% | 5.2% |
| Working from Home | 10.9% | 12.0% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 1,931 people are unemployed in Midland County, Michigan.
The average commute time in Midland County is 20 minutes, shorter than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Midland County, Michigan has fallen from 8.2% to 4.8% in 2023.
Conclusion
Considering all these factors, Midland County, Michigan has an overall wealth index grade of B, making it somewhat better than Michigan, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Midland County, Michigan.
How Rich Is Midland County, Michigan?
Midland County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $77,596, about 9% higher than the Michigan average of $71,353.
What is the current median household income in Midland County, Michigan?
As of 2023, the median household income in Midland County, Michigan is $77,596.
What was the median household income in Midland County in 2023?
In 2023, the median household income in Midland County, Michigan was $77,596.
What was the median household income in Midland County in 2020?
In 2020, the median household income in Midland County, Michigan was $63,601.
What is the Gini coefficient in Midland County, Michigan?
The Gini coefficient in Midland County is 0.559. 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 Midland County, Michigan?
Since 2009, the income gap between men and women in Midland County, Michigan has narrowed from about 32% to 20% in 2023. In dollar terms, the gap has narrowed by $2,287 since 2009.