Wealth Index
Less wealthy than 73% of counties in Mississippi
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 | Clay County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $39,912 | $55,084 | $78,145 |
| Median Personal Income | $40,720 | $48,244 | $61,726 |
| Average income growth | 3.0% | 4.5% | 5.1% |
| Six-Figure Earners | 2.8% | 6.9% | 13.2% |
The median household income in Clay County is about 28% lower than in Mississippi. Income has been growing slower in Clay County (3.0%/yr) than in Mississippi (4.5%/yr).
About 3% of adults in Clay 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 Clay County, Mississippi grew by 28.2% from 2009 to 2023, reaching $39,912 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Clay County | Gender Pay Gap | Gini Coefficient
| Metric | Clay County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.581 | 0.574 | 0.570 |
| Male Median Income | $48,281 | $55,143 | $67,746 |
| Female Median Income | $36,105 | $42,143 | $54,793 |
| Gender Pay Gap | 25.2% | 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 Clay County, it is 0.581, higher than Mississippi's 0.574, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 34% more than women's income in Clay County, Mississippi. Over a 35-year career, a 34% wage gap accumulates to roughly $426,160 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Clay County, Mississippi has widened from about 17% to 25% in 2023. In dollar terms, the gap has widened by $6,608 since 2009.
Employment
| Metric | Clay County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 5.9% | 5.2% |
| Working from Home | 7.2% | 5.3% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 504 people are unemployed in Clay County, Mississippi.
The average commute time in Clay County is 20 minutes, shorter than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Clay County, Mississippi has fallen from 18.1% to 6.7% in 2023.
Conclusion
Considering all these factors, Clay County, Mississippi has an overall wealth index grade of D, making it somewhat worse than Mississippi, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Clay County, Mississippi.
How Rich Is Clay County, Mississippi?
Clay 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 $39,912, about 28% lower than the Mississippi average of $55,084.
What is the current median household income in Clay County, Mississippi?
As of 2023, the median household income in Clay County, Mississippi is $39,912.
What was the median household income in Clay County in 2023?
In 2023, the median household income in Clay County, Mississippi was $39,912.
What was the median household income in Clay County in 2020?
In 2020, the median household income in Clay County, Mississippi was $33,447.
What is the Gini coefficient in Clay County, Mississippi?
The Gini coefficient in Clay County is 0.581. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Clay County, Mississippi?
Since 2009, the income gap between men and women in Clay County, Mississippi has widened from about 17% to 25% in 2023. In dollar terms, the gap has widened by $6,608 since 2009.