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 | Forrest County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,555 | $55,084 | $78,145 |
| Median Personal Income | $42,397 | $48,244 | $61,726 |
| Average income growth | 5.1% | 4.5% | 5.1% |
| Six-Figure Earners | 6.2% | 6.9% | 13.2% |
The median household income in Forrest County is about 5% lower than in Mississippi. Income has been growing faster in Forrest County (5.1%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Forrest 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 Forrest County, Mississippi grew by 59.4% from 2009 to 2023, reaching $52,555 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Forrest County | Gender Pay Gap | Gini Coefficient
| Metric | Forrest County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.574 | 0.570 |
| Male Median Income | $48,856 | $55,143 | $67,746 |
| Female Median Income | $35,201 | $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 Forrest County, it is 0.574, about the same as Mississippi's 0.574, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 39% more than women's income in Forrest County, Mississippi. Over a 35-year career, a 39% wage gap accumulates to roughly $477,925 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Forrest County, Mississippi has stayed about the same since 2009, at around 28%. In dollar terms, the gap has widened by $3,615 since 2009.
Employment
| Metric | Forrest County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 5.9% | 5.2% |
| Working from Home | 3.1% | 5.3% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 2,440 people are unemployed in Forrest County, Mississippi.
The average commute time in Forrest County is 17 minutes, shorter than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Forrest County, Mississippi has fallen from 10.0% to 6.2% in 2023.
Conclusion
Considering all these factors, Forrest 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 Forrest County, Mississippi.
How Rich Is Forrest County, Mississippi?
Forrest 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 $52,555, about 5% lower than the Mississippi average of $55,084.
What is the current median household income in Forrest County, Mississippi?
As of 2023, the median household income in Forrest County, Mississippi is $52,555.
What was the median household income in Forrest County in 2023?
In 2023, the median household income in Forrest County, Mississippi was $52,555.
What was the median household income in Forrest County in 2020?
In 2020, the median household income in Forrest County, Mississippi was $42,975.
What is the Gini coefficient in Forrest County, Mississippi?
The Gini coefficient in Forrest County is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Forrest County, Mississippi?
The income gap between men and women in Forrest County, Mississippi has stayed about the same since 2009, at around 28%. In dollar terms, the gap has widened by $3,615 since 2009.