Wealth Index
Wealthier than 74% 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 | Monroe County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $51,543 | $55,084 | $78,145 |
| Median Personal Income | $46,287 | $48,244 | $61,726 |
| Average income growth | 4.4% | 4.5% | 5.1% |
| Six-Figure Earners | 5.1% | 6.9% | 13.2% |
The median household income in Monroe County is about 6% lower than in Mississippi. Income has been growing slower in Monroe County (4.4%/yr) than in Mississippi (4.5%/yr).
About 5% of adults in Monroe 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 Monroe County, Mississippi grew by 55.1% from 2009 to 2023, reaching $51,543 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Monroe County | Gender Pay Gap | Gini Coefficient
| Metric | Monroe County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.547 | 0.574 | 0.570 |
| Male Median Income | $56,220 | $55,143 | $67,746 |
| Female Median Income | $36,970 | $42,143 | $54,793 |
| Gender Pay Gap | 34.2% | 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 Monroe County, it is 0.547, 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 52% more than women's income in Monroe County, Mississippi. Over a 35-year career, a 52% wage gap accumulates to roughly $673,750 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Monroe County, Mississippi has widened from about 30% to 34% in 2023. In dollar terms, the gap has widened by $8,209 since 2009.
Employment
| Metric | Monroe County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 5.9% | 5.2% |
| Working from Home | 6.5% | 5.3% | 13.4% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 859 people are unemployed in Monroe County, Mississippi.
The average commute time in Monroe County is 22 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Monroe County, Mississippi has fallen from 10.7% to 5.8% in 2023.
Conclusion
Considering all these factors, Monroe 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 Monroe County, Mississippi.
How Rich Is Monroe County, Mississippi?
Monroe 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 $51,543, about 6% lower than the Mississippi average of $55,084.
What is the current median household income in Monroe County, Mississippi?
As of 2023, the median household income in Monroe County, Mississippi is $51,543.
What was the median household income in Monroe County in 2023?
In 2023, the median household income in Monroe County, Mississippi was $51,543.
What was the median household income in Monroe County in 2020?
In 2020, the median household income in Monroe County, Mississippi was $45,018.
What is the Gini coefficient in Monroe County, Mississippi?
The Gini coefficient in Monroe County is 0.547. 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 Monroe County, Mississippi?
Since 2009, the income gap between men and women in Monroe County, Mississippi has widened from about 30% to 34% in 2023. In dollar terms, the gap has widened by $8,209 since 2009.