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 | Alcorn County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,365 | $55,084 | $78,145 |
| Median Personal Income | $42,083 | $48,244 | $61,726 |
| Average income growth | 3.7% | 4.5% | 5.1% |
| Six-Figure Earners | 5.4% | 6.9% | 13.2% |
The median household income in Alcorn County is about 10% lower than in Mississippi. Income has been growing slower in Alcorn County (3.7%/yr) than in Mississippi (4.5%/yr).
About 5% of adults in Alcorn County earn six figures ($100,000 or more) a year, lower than the Mississippi average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Alcorn County, Mississippi grew by 55.4% from 2009 to 2023, reaching $49,365 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Alcorn County | Gender Pay Gap | Gini Coefficient
| Metric | Alcorn County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.532 | 0.574 | 0.570 |
| Male Median Income | $49,044 | $55,143 | $67,746 |
| Female Median Income | $35,376 | $42,143 | $54,793 |
| Gender Pay Gap | 27.9% | 23.6% | 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 Alcorn County, it is 0.532, lower than Mississippi's 0.574, 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 39% more than women's income in Alcorn County, Mississippi. Over a 35-year career, a 39% wage gap accumulates to roughly $478,380 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Alcorn County, Mississippi has narrowed from about 36% to 28% in 2023. In dollar terms, the gap has widened by $11 since 2009.
Employment
| Metric | Alcorn County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 5.9% | 5.2% |
| Working from Home | 2.5% | 5.3% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 892 people are unemployed in Alcorn County, Mississippi.
The average commute time in Alcorn County is 17 minutes, shorter than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Alcorn County, Mississippi has fallen from 10.0% to 5.8% in 2023.
Conclusion
Considering all these factors, Alcorn County, Mississippi has an overall wealth index grade of D, making it about on par with Mississippi, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Alcorn County, Mississippi.
How Wealthy Is Alcorn County, Mississippi?
Alcorn County 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 $49,365, about 10% lower than the Mississippi average of $55,084.
What is the current median household income in Alcorn County, Mississippi?
As of 2023, the median household income in Alcorn County, Mississippi is $49,365.
What was the median household income in Alcorn County in 2023?
In 2023, the median household income in Alcorn County, Mississippi was $49,365.
What was the median household income in Alcorn County in 2020?
In 2020, the median household income in Alcorn County, Mississippi was $41,042.
What is the Gini coefficient in Alcorn County, Mississippi?
The Gini coefficient in Alcorn County is 0.532. 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 Alcorn County, Mississippi?
Since 2009, the income gap between men and women in Alcorn County, Mississippi has narrowed from about 36% to 28% in 2023. In dollar terms, the gap has widened by $11 since 2009.