Wealth Index
Among the top 5 wealthiest 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 | Lamar County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,517 | $55,084 | $78,145 |
| Median Personal Income | $55,115 | $48,244 | $61,726 |
| Average income growth | 3.4% | 4.5% | 5.1% |
| Six-Figure Earners | 10.9% | 6.9% | 13.2% |
The median household income in Lamar County is about 26% higher than in Mississippi. Income has been growing slower in Lamar County (3.4%/yr) than in Mississippi (4.5%/yr).
About 11% of adults in Lamar 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 Lamar County, Mississippi grew by 44.4% from 2009 to 2023, reaching $69,517 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Lamar County | Gender Pay Gap | Gini Coefficient
| Metric | Lamar County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.576 | 0.574 | 0.570 |
| Male Median Income | $64,046 | $55,143 | $67,746 |
| Female Median Income | $46,358 | $42,143 | $54,793 |
| Gender Pay Gap | 27.6% | 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 Lamar County, it is 0.576, about the same as Mississippi's 0.574, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 38% more than women's income in Lamar County, Mississippi. Over a 35-year career, a 38% wage gap accumulates to roughly $619,080 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lamar County, Mississippi has narrowed from about 31% to 28% in 2023. In dollar terms, the gap has widened by $3,385 since 2009.
Employment
| Metric | Lamar County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 5.9% | 5.2% |
| Working from Home | 5.1% | 5.3% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 1,659 people are unemployed in Lamar County, Mississippi.
The average commute time in Lamar County is 21 minutes, about the same as in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lamar County, Mississippi has fallen from 5.7% to 5.1% in 2023.
Conclusion
Considering all these factors, Lamar 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 Lamar County, Mississippi.
How Rich Is Lamar County, Mississippi?
Lamar 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 $69,517, about 26% higher than the Mississippi average of $55,084.
What is the current median household income in Lamar County, Mississippi?
As of 2023, the median household income in Lamar County, Mississippi is $69,517.
What was the median household income in Lamar County in 2023?
In 2023, the median household income in Lamar County, Mississippi was $69,517.
What was the median household income in Lamar County in 2020?
In 2020, the median household income in Lamar County, Mississippi was $61,589.
What is the Gini coefficient in Lamar County, Mississippi?
The Gini coefficient in Lamar County is 0.576. 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 Lamar County, Mississippi?
Since 2009, the income gap between men and women in Lamar County, Mississippi has narrowed from about 31% to 28% in 2023. In dollar terms, the gap has widened by $3,385 since 2009.