Wealth Index
Less wealthy than 77% of counties in Minnesota
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 | Mower County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,972 | $88,383 | $78,145 |
| Median Personal Income | $52,632 | $67,709 | $61,726 |
| Average income growth | 4.8% | 4.8% | 5.1% |
| Six-Figure Earners | 7.3% | 14.5% | 13.2% |
The median household income in Mower County is about 19% lower than in Minnesota. Income has been growing slower in Mower County (4.8%/yr) than in Minnesota (4.8%/yr).
About 7% of adults in Mower County earn six figures ($100,000 or more) a year, lower than the Minnesota average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Mower County, Minnesota grew by 59.0% from 2009 to 2023, reaching $71,972 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Mower County | Gender Pay Gap | Gini Coefficient
| Metric | Mower County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.520 | 0.570 |
| Male Median Income | $53,905 | $73,285 | $67,746 |
| Female Median Income | $50,407 | $61,000 | $54,793 |
| Gender Pay Gap | 6.5% | 16.8% | 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 Mower County, it is 0.509, lower than Minnesota's 0.520, 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 7% more than women's income in Mower County, Minnesota. Over a 35-year career, a 7% wage gap accumulates to roughly $122,430 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mower County, Minnesota has narrowed from about 20% to 6% in 2023. In dollar terms, the gap has narrowed by $4,751 since 2009.
Employment
| Metric | Mower County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 3.9% | 5.2% |
| Working from Home | 6.4% | 15.9% | 13.4% |
| Commute time (minutes) | 13 | 20 | 22 |
Approximately 758 people are unemployed in Mower County, Minnesota.
The average commute time in Mower County is 13 minutes, shorter than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mower County, Minnesota has fallen from 4.7% to 3.7% in 2023.
Conclusion
Considering all these factors, Mower County, Minnesota has an overall wealth index grade of B, making it somewhat worse than Minnesota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mower County, Minnesota.
How Rich Is Mower County, Minnesota?
Mower 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 $71,972, about 19% lower than the Minnesota average of $88,383.
What is the current median household income in Mower County, Minnesota?
As of 2023, the median household income in Mower County, Minnesota is $71,972.
What was the median household income in Mower County in 2023?
In 2023, the median household income in Mower County, Minnesota was $71,972.
What was the median household income in Mower County in 2020?
In 2020, the median household income in Mower County, Minnesota was $55,419.
What is the Gini coefficient in Mower County, Minnesota?
The Gini coefficient in Mower County is 0.509. 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 Mower County, Minnesota?
Since 2009, the income gap between men and women in Mower County, Minnesota has narrowed from about 20% to 6% in 2023. In dollar terms, the gap has narrowed by $4,751 since 2009.