Wealth Index
Wealthier than 83% 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 | Union County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,375 | $55,084 | $78,145 |
| Median Personal Income | $43,350 | $48,244 | $61,726 |
| Average income growth | 6.1% | 4.5% | 5.1% |
| Six-Figure Earners | 5.6% | 6.9% | 13.2% |
The median household income in Union County is about 4% higher than in Mississippi. Income has been growing faster in Union County (6.1%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Union 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 Union County, Mississippi grew by 59.7% from 2009 to 2023, reaching $57,375 in 2023. That's an average of about 6.1% per year.
Economic Inequality in Union County | Gender Pay Gap | Gini Coefficient
| Metric | Union County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.574 | 0.570 |
| Male Median Income | $47,162 | $55,143 | $67,746 |
| Female Median Income | $38,416 | $42,143 | $54,793 |
| Gender Pay Gap | 18.5% | 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 Union County, it is 0.513, 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 23% more than women's income in Union County, Mississippi. Over a 35-year career, a 23% wage gap accumulates to roughly $306,110 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Union County, Mississippi has widened from about 14% to 19% in 2023. In dollar terms, the gap has widened by $4,208 since 2009.
Employment
| Metric | Union County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.9% | 5.2% |
| Working from Home | 1.5% | 5.3% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 489 people are unemployed in Union County, Mississippi.
The average commute time in Union County is 21 minutes, about the same as in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Union County, Mississippi has fallen from 8.5% to 3.9% in 2023.
Conclusion
Considering all these factors, Union 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 Union County, Mississippi.
How Wealthy Is Union County, Mississippi?
Union 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 $57,375, about 4% higher than the Mississippi average of $55,084.
What is the current median household income in Union County, Mississippi?
As of 2023, the median household income in Union County, Mississippi is $57,375.
What was the median household income in Union County in 2023?
In 2023, the median household income in Union County, Mississippi was $57,375.
What was the median household income in Union County in 2020?
In 2020, the median household income in Union County, Mississippi was $48,211.
What is the Gini coefficient in Union County, Mississippi?
The Gini coefficient in Union County is 0.513. 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 Union County, Mississippi?
Since 2009, the income gap between men and women in Union County, Mississippi has widened from about 14% to 19% in 2023. In dollar terms, the gap has widened by $4,208 since 2009.