Wealth Index
Wealthier than 93% 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 | Hancock County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,517 | $55,084 | $78,145 |
| Median Personal Income | $53,497 | $48,244 | $61,726 |
| Average income growth | 5.9% | 4.5% | 5.1% |
| Six-Figure Earners | 9.1% | 6.9% | 13.2% |
The median household income in Hancock County is about 24% higher than in Mississippi. Income has been growing faster in Hancock County (5.9%/yr) than in Mississippi (4.5%/yr).
About 9% of adults in Hancock County earn six figures ($100,000 or more) a year, higher than the Mississippi average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hancock County, Mississippi grew by 56.5% from 2009 to 2023, reaching $68,517 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Hancock County | Gender Pay Gap | Gini Coefficient
| Metric | Hancock County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.539 | 0.574 | 0.570 |
| Male Median Income | $63,893 | $55,143 | $67,746 |
| Female Median Income | $45,168 | $42,143 | $54,793 |
| Gender Pay Gap | 29.3% | 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 Hancock County, it is 0.539, 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 41% more than women's income in Hancock County, Mississippi. Over a 35-year career, a 41% wage gap accumulates to roughly $655,375 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hancock County, Mississippi has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $5,447 since 2009.
Employment
| Metric | Hancock County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.9% | 5.2% |
| Working from Home | 10.6% | 5.3% | 13.4% |
| Commute time (minutes) | 30 | 21 | 22 |
Approximately 1,190 people are unemployed in Hancock County, Mississippi.
The average commute time in Hancock County is 30 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hancock County, Mississippi has fallen from 11.0% to 5.3% in 2023.
Conclusion
Considering all these factors, Hancock County, Mississippi has an overall wealth index grade of C, making it somewhat better than Mississippi, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hancock County, Mississippi.
How Rich Is Hancock County, Mississippi?
Hancock County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $68,517, about 24% higher than the Mississippi average of $55,084.
What is the current median household income in Hancock County, Mississippi?
As of 2023, the median household income in Hancock County, Mississippi is $68,517.
What was the median household income in Hancock County in 2023?
In 2023, the median household income in Hancock County, Mississippi was $68,517.
What was the median household income in Hancock County in 2020?
In 2020, the median household income in Hancock County, Mississippi was $54,557.
What is the Gini coefficient in Hancock County, Mississippi?
The Gini coefficient in Hancock County is 0.539. 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 Hancock County, Mississippi?
Since 2009, the income gap between men and women in Hancock County, Mississippi has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $5,447 since 2009.