Wealth Index
Wealthier than 89% 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 | Tate County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,377 | $55,084 | $78,145 |
| Median Personal Income | $51,778 | $48,244 | $61,726 |
| Average income growth | 5.4% | 4.5% | 5.1% |
| Six-Figure Earners | 6.4% | 6.9% | 13.2% |
The median household income in Tate County is about 15% higher than in Mississippi. Income has been growing faster in Tate County (5.4%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Tate County earn six figures ($100,000 or more) a year, about the same as the Mississippi average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Tate County, Mississippi grew by 67.1% from 2009 to 2023, reaching $63,377 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Tate County | Gender Pay Gap | Gini Coefficient
| Metric | Tate County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.571 | 0.574 | 0.570 |
| Male Median Income | $59,341 | $55,143 | $67,746 |
| Female Median Income | $43,655 | $42,143 | $54,793 |
| Gender Pay Gap | 26.4% | 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 Tate County, it is 0.571, about the same as Mississippi's 0.574, so income here is about as evenly distributed as 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 36% more than women's income in Tate County, Mississippi. Over a 35-year career, a 36% wage gap accumulates to roughly $549,010 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tate County, Mississippi has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $6,885 since 2009.
Employment
| Metric | Tate County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 5.9% | 5.2% |
| Working from Home | 3.1% | 5.3% | 13.4% |
| Commute time (minutes) | 32 | 21 | 22 |
Approximately 682 people are unemployed in Tate County, Mississippi.
The average commute time in Tate County is 32 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tate County, Mississippi has fallen from 8.5% to 5.4% in 2023.
Conclusion
Considering all these factors, Tate County, Mississippi has an overall wealth index grade of D, making it somewhat better than Mississippi, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Tate County, Mississippi.
How Rich Is Tate County, Mississippi?
Tate 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 $63,377, about 15% higher than the Mississippi average of $55,084.
What is the current median household income in Tate County, Mississippi?
As of 2023, the median household income in Tate County, Mississippi is $63,377.
What was the median household income in Tate County in 2023?
In 2023, the median household income in Tate County, Mississippi was $63,377.
What was the median household income in Tate County in 2020?
In 2020, the median household income in Tate County, Mississippi was $55,476.
What is the Gini coefficient in Tate County, Mississippi?
The Gini coefficient in Tate County is 0.571. 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 Tate County, Mississippi?
Since 2009, the income gap between men and women in Tate County, Mississippi has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $6,885 since 2009.