Wealth Index
Among the 3 least wealthy states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Mississippi
- Madison County (112% of U.S. avg)
- DeSoto County (104% of U.S. avg)
- Rankin County (103% of U.S. avg)
- Issaquena County (48% of U.S. avg)
- Sunflower County (61% of U.S. avg)
- Holmes County (61% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Mississippi | US Average |
|---|---|---|
| Median Household Income | $55,084 | $78,145 |
| Median Personal Income | $48,244 | $61,726 |
| Average income growth | 4.5% | 5.1% |
| Six-Figure Earners | 6.9% | 13.2% |
The median household income in Mississippi is about 30% lower than in US. Income has been growing slower in Mississippi (4.5%/yr) than in US (5.1%/yr).
About 7% of adults in Mississippi earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Mississippi grew by 49.3% from 2009 to 2023, reaching $55,084 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Mississippi | Gender Pay Gap | Gini Coefficient
| Metric | Mississippi | US Average |
|---|---|---|
| Gini Coefficient | 0.574 | 0.570 |
| Male Median Income | $55,143 | $67,746 |
| Female Median Income | $42,143 | $54,793 |
| Gender Pay Gap | 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 Mississippi, it is 0.574, about the same as US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 31% more than women's income in Mississippi. Over a 35-year career, a 31% wage gap accumulates to roughly $455,000 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mississippi has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $3,313 since 2009.
Employment
| Metric | Mississippi | US Average |
|---|---|---|
| Unemployment Rate | 5.9% | 5.2% |
| Working from Home | 5.3% | 13.4% |
| Commute time (minutes) | 21 | 22 |
Approximately 79,702 people are unemployed in Mississippi.
The average commute time in Mississippi is 21 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mississippi has fallen from 9.9% to 5.9% in 2023.
Conclusion
Considering all these factors, Mississippi has an overall wealth index grade of D, making it somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mississippi.
How Rich Is Mississippi?
Mississippi 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 $55,084, about 30% lower than the US average of $78,145.
What is the current median household income in Mississippi?
As of 2023, the median household income in Mississippi is $55,084.
What was the median household income in Mississippi in 2023?
In 2023, the median household income in Mississippi was $55,084.
What was the median household income in Mississippi in 2020?
In 2020, the median household income in Mississippi was $46,573.
What is the Gini coefficient in Mississippi?
The Gini coefficient in Mississippi is 0.574. 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 Mississippi?
Since 2009, the income gap between men and women in Mississippi has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $3,313 since 2009.