Wealth Index
Wealthier than 84% 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 | Wayne County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $37,123 | $55,084 | $78,145 |
| Median Personal Income | $41,008 | $48,244 | $61,726 |
| Average income growth | 1.2% | 4.5% | 5.1% |
| Six-Figure Earners | 5.8% | 6.9% | 13.2% |
The median household income in Wayne County is about 33% lower than in Mississippi. Income has been growing slower in Wayne County (1.2%/yr) than in Mississippi (4.5%/yr).
About 6% of adults in Wayne 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 Wayne County, Mississippi grew by 22.2% from 2009 to 2023, reaching $37,123 in 2023. That's an average of about 1.2% per year.
Economic Inequality in Wayne County | Gender Pay Gap | Gini Coefficient
| Metric | Wayne County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.576 | 0.574 | 0.570 |
| Male Median Income | $51,051 | $55,143 | $67,746 |
| Female Median Income | $32,556 | $42,143 | $54,793 |
| Gender Pay Gap | 36.2% | 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 Wayne County, it is 0.576, about the same as Mississippi's 0.574, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 57% more than women's income in Wayne County, Mississippi. Over a 35-year career, a 57% wage gap accumulates to roughly $647,325 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wayne County, Mississippi has widened from about 33% to 36% in 2023. In dollar terms, the gap has widened by $7,170 since 2009.
Employment
| Metric | Wayne County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.9% | 5.9% | 5.2% |
| Working from Home | 3.8% | 5.3% | 13.4% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 645 people are unemployed in Wayne County, Mississippi.
The average commute time in Wayne County is 22 minutes, longer than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wayne County, Mississippi has fallen from 9.5% to 7.9% in 2023.
Conclusion
Considering all these factors, Wayne 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 Wayne County, Mississippi.
How Rich Is Wayne County, Mississippi?
Wayne 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 $37,123, about 33% lower than the Mississippi average of $55,084.
What is the current median household income in Wayne County, Mississippi?
As of 2023, the median household income in Wayne County, Mississippi is $37,123.
What was the median household income in Wayne County in 2023?
In 2023, the median household income in Wayne County, Mississippi was $37,123.
What was the median household income in Wayne County in 2020?
In 2020, the median household income in Wayne County, Mississippi was $33,233.
What is the Gini coefficient in Wayne County, Mississippi?
The Gini coefficient in Wayne County is 0.576. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Wayne County, Mississippi?
Since 2009, the income gap between men and women in Wayne County, Mississippi has widened from about 33% to 36% in 2023. In dollar terms, the gap has widened by $7,170 since 2009.