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 | Lauderdale County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,031 | $55,084 | $78,145 |
| Median Personal Income | $44,876 | $48,244 | $61,726 |
| Average income growth | 3.8% | 4.5% | 5.1% |
| Six-Figure Earners | 5.5% | 6.9% | 13.2% |
The median household income in Lauderdale County is about 9% lower than in Mississippi. Income has been growing slower in Lauderdale County (3.8%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Lauderdale 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 Lauderdale County, Mississippi grew by 48.9% from 2009 to 2023, reaching $50,031 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Lauderdale County | Gender Pay Gap | Gini Coefficient
| Metric | Lauderdale County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.566 | 0.574 | 0.570 |
| Male Median Income | $52,234 | $55,143 | $67,746 |
| Female Median Income | $39,278 | $42,143 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Lauderdale County, it is 0.566, lower than Mississippi's 0.574, so income is more evenly distributed here than 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 33% more than women's income in Lauderdale County, Mississippi. Over a 35-year career, a 33% wage gap accumulates to roughly $453,460 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lauderdale County, Mississippi has widened from about 22% to 25% in 2023. In dollar terms, the gap has widened by $4,425 since 2009.
Employment
| Metric | Lauderdale County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 5.9% | 5.2% |
| Working from Home | 4.5% | 5.3% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 1,728 people are unemployed in Lauderdale County, Mississippi.
The average commute time in Lauderdale County is 18 minutes, shorter than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lauderdale County, Mississippi has fallen from 10.8% to 5.4% in 2023.
Conclusion
Considering all these factors, Lauderdale 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 Lauderdale County, Mississippi.
How Rich Is Lauderdale County, Mississippi?
Lauderdale 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 $50,031, about 9% lower than the Mississippi average of $55,084.
What is the current median household income in Lauderdale County, Mississippi?
As of 2023, the median household income in Lauderdale County, Mississippi is $50,031.
What was the median household income in Lauderdale County in 2023?
In 2023, the median household income in Lauderdale County, Mississippi was $50,031.
What was the median household income in Lauderdale County in 2020?
In 2020, the median household income in Lauderdale County, Mississippi was $43,113.
What is the Gini coefficient in Lauderdale County, Mississippi?
The Gini coefficient in Lauderdale County is 0.566. 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 Lauderdale County, Mississippi?
Since 2009, the income gap between men and women in Lauderdale County, Mississippi has widened from about 22% to 25% in 2023. In dollar terms, the gap has widened by $4,425 since 2009.