Per Capita Income
There are three measures in this category that include average and median per capita, household, and family.
Why This Indicator is Important
Comparisons between state and local per capita income offer insight into the economic well-being of a community. Lower than average per capita income may indicate that the local economy does not adequately support individuals or families. Deeper analysis of per capita income also reveals trends that indicate income distribution. Also, per capita does not reflect income distribution. If the distribution of income within a country is skewed, a small wealthy class can increase per capita income far above that of the majority of the population. In this respect Median income is a more useful measure of prosperity than per capita income, because the outliers influence it less.
How Are We Doing?
Examining trends from 2009-2013, data shows that in per capita income ($29,536), median household income for families ($53,076), and median family income for households ($65,735) in Midland County is over $5000 above the state average and over $1,000 above the US average. If the data is examined by income level, the majority of persons of median family income range in between $50,000-$74,999 in Midland County, Michigan, and the U.S. In Midland County, there are about 5% less of the families are in the $10,000 to $35,000 income range than in the U.S. and Michigan.