Wealth Index
Wealthier than 77% 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 | Itawamba County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,422 | $55,084 | $78,145 |
| Median Personal Income | $46,783 | $48,244 | $61,726 |
| Average income growth | 7.7% | 4.5% | 5.1% |
| Six-Figure Earners | 6.1% | 6.9% | 13.2% |
The median household income in Itawamba County is about 8% higher than in Mississippi. Income has been growing faster in Itawamba County (7.7%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Itawamba 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 Itawamba County, Mississippi grew by 58.8% from 2009 to 2023, reaching $59,422 in 2023. That's an average of about 7.7% per year.
Economic Inequality in Itawamba County | Gender Pay Gap | Gini Coefficient
| Metric | Itawamba County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.506 | 0.574 | 0.570 |
| Male Median Income | $57,188 | $55,143 | $67,746 |
| Female Median Income | $38,950 | $42,143 | $54,793 |
| Gender Pay Gap | 31.9% | 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 Itawamba County, it is 0.506, 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 47% more than women's income in Itawamba County, Mississippi. Over a 35-year career, a 47% wage gap accumulates to roughly $638,330 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Itawamba County, Mississippi has widened from about 22% to 32% in 2023. In dollar terms, the gap has widened by $10,487 since 2009.
Employment
| Metric | Itawamba County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 5.9% | 5.2% |
| Working from Home | 6.0% | 5.3% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 334 people are unemployed in Itawamba County, Mississippi.
The average commute time in Itawamba County is 23 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Itawamba County, Mississippi has fallen from 8.9% to 2.9% in 2023.
Conclusion
Considering all these factors, Itawamba 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 Itawamba County, Mississippi.
How Wealthy Is Itawamba County, Mississippi?
Itawamba 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 $59,422, about 8% higher than the Mississippi average of $55,084.
What is the current median household income in Itawamba County, Mississippi?
As of 2023, the median household income in Itawamba County, Mississippi is $59,422.
What was the median household income in Itawamba County in 2023?
In 2023, the median household income in Itawamba County, Mississippi was $59,422.
What was the median household income in Itawamba County in 2020?
In 2020, the median household income in Itawamba County, Mississippi was $47,511.
What is the Gini coefficient in Itawamba County, Mississippi?
The Gini coefficient in Itawamba County is 0.506. 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 Itawamba County, Mississippi?
Since 2009, the income gap between men and women in Itawamba County, Mississippi has widened from about 22% to 32% in 2023. In dollar terms, the gap has widened by $10,487 since 2009.