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 | Benton County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $41,780 | $55,084 | $78,145 |
| Median Personal Income | $37,617 | $48,244 | $61,726 |
| Average income growth | 1.9% | 4.5% | 5.1% |
| Six-Figure Earners | 2.9% | 6.9% | 13.2% |
The median household income in Benton County is about 24% lower than in Mississippi. Income has been growing slower in Benton County (1.9%/yr) than in Mississippi (4.5%/yr).
About 3% of adults in Benton 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 Benton County, Mississippi grew by 50.5% from 2009 to 2023, reaching $41,780 in 2023. That's an average of about 1.9% per year.
Economic Inequality in Benton County | Gender Pay Gap | Gini Coefficient
| Metric | Benton County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.574 | 0.570 |
| Male Median Income | $38,260 | $55,143 | $67,746 |
| Female Median Income | $37,393 | $42,143 | $54,793 |
| Gender Pay Gap | 2.3% | 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 Benton County, it is 0.545, 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 2% more than women's income in Benton County, Mississippi. Over a 35-year career, a 2% wage gap accumulates to roughly $30,345 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Benton County, Mississippi has narrowed from about 14% to 2% in 2023. In dollar terms, the gap has narrowed by $3,455 since 2009.
Employment
| Metric | Benton County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 5.9% | 5.2% |
| Working from Home | 1.9% | 5.3% | 13.4% |
| Commute time (minutes) | 32 | 21 | 22 |
Approximately 90 people are unemployed in Benton County, Mississippi.
The average commute time in Benton County is 32 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Benton County, Mississippi has fallen from 17.5% to 2.7% in 2023.
Conclusion
Considering all these factors, Benton 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 Benton County, Mississippi.
How Rich Is Benton County, Mississippi?
Benton 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 $41,780, about 24% lower than the Mississippi average of $55,084.
What is the current median household income in Benton County, Mississippi?
As of 2023, the median household income in Benton County, Mississippi is $41,780.
What was the median household income in Benton County in 2023?
In 2023, the median household income in Benton County, Mississippi was $41,780.
What was the median household income in Benton County in 2020?
In 2020, the median household income in Benton County, Mississippi was $39,726.
What is the Gini coefficient in Benton County, Mississippi?
The Gini coefficient in Benton County is 0.545. 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 Benton County, Mississippi?
Since 2009, the income gap between men and women in Benton County, Mississippi has narrowed from about 14% to 2% in 2023. In dollar terms, the gap has narrowed by $3,455 since 2009.