Southaven, Mississippi Income Statistics
Southaven Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
B
Southaven Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,998 | $56,669 | $80,455 |
| Median Personal Income | $53,975 | $48,086 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.3% | 4.8% |
| Six-Figure Earners | 9.2% | 7.4% | 13.9% |
| $200k+ Households | 6.2% | 5.8% | 13.2% |
The median household income in Southaven is about 41% higher than in Mississippi. Income has been growing slower in Southaven (4.1%/yr) than in Mississippi (4.3%/yr).
About 9% of adults in Southaven earn six figures ($100,000 or more) a year, higher than the Mississippi average of 7%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Southaven, Mississippi grew by 45.9% from 2009 to 2024, reaching $79,998 in 2024. That's an average of about 4.1% per year.
Income Inequality and the Gender Pay Gap in Southaven
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.566 | 0.552 |
| Male Median Income | $60,808 | $56,525 | $69,667 |
| Female Median Income | $53,905 | $43,645 | $56,850 |
| Gender Pay Gap | 11.4% | 22.8% | 18.4% |
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 Southaven, it is 0.531, lower than Mississippi's 0.566, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 13% more than women's income in Southaven, Mississippi. Over a 35-year career, a 13% wage gap accumulates to roughly $241,605 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Southaven, Mississippi has narrowed from about 24% to 11% in 2024. Over that period the gap was widest at 25% in 2011, and was narrowest at 10% in 2022. In dollar terms, the gap has narrowed by $4,197 since 2009.
Employment
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 5.7% | 5.2% |
| Working from Home | 9.8% | 5.9% | 15.0% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 876 people are unemployed in Southaven, Mississippi.
The average commute time in Southaven is 23 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Southaven, Mississippi has fallen from 7.7% to 3.1% in 2024. Over that period the rate peaked at 8.3% in 2013.
Southaven, MS Wealth Compared With Nearby Cities
How Southaven, MS compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Southaven, MS | 54,424 | $79,998 #2/3 | 4.1%/yr #2/3 | 3.1% #2/3 | 0.531 #2/3 |
| Horn Lake, MS | 24,794 | $53,691 | 2.1%/yr | 5.2% | 0.535 |
| Olive Branch, MS | 48,912 | $99,194 | 4.7%/yr | 2.7% | 0.514 |
Conclusion
Considering all these factors, Southaven, Mississippi has an overall wealth index grade of B, making it somewhat better than Mississippi, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Southaven, Mississippi.
How Rich Is Southaven, Mississippi?
Southaven has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $79,998, about 41% higher than the Mississippi average of $56,669.
How fast is household income rising in Southaven, Mississippi?
Between 2009 and 2024, the median household income in Southaven, Mississippi rose 46%, from $54,820 to $79,998. Over the same years, income here lagged behind Mississippi as a whole: +46% against +54%.
What was the median household income in Southaven in 2023?
In 2023, the median household income in Southaven, Mississippi was $78,312, up 8% from $72,318 in 2022. The Mississippi median that year was $55,083.
What was the median household income in Southaven in 2020?
In 2020, the median household income in Southaven, Mississippi was $65,636. By 2024 it had risen 22% to $79,998.
How strong is the job market in Southaven, Mississippi?
Unemployment in Southaven, Mississippi is only 3.1%, well below the Mississippi rate of 5.7%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Southaven, Mississippi?
The Gini coefficient in Southaven is 0.531. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Southaven, Mississippi?
Since 2009, the income gap between men and women in Southaven, Mississippi has narrowed from about 24% to 11% in 2024. Over that period the gap was widest at 25% in 2011, and was narrowest at 10% in 2022. In dollar terms, the gap has narrowed by $4,197 since 2009.
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