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Fayette, MS Median Household Income: Trends, Analysis, and Key Findings

The median household income in Fayette was $24,687 in 2021, which marked an an increase of 1,304(5.58%) from $23,383 in 2020. This income is 33.09% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
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By Neilsberg Research
Updated Jan 11, 2024

Median Household Income in Fayette, MS (2010-2021, in 2022 inflation-adjusted dollars)

Below, you will find a table illustrating the median household income in Fayette, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.

Year Median Household Income YOY Change($) YOY Change(%)
2010 18,585 - -
2011 21,391 2,806 15.10%
2012 21,880 489 2.29%
2013 24,819 2,939 13.43%
2014 25,706 887 3.57%
2015 25,142 -564 -2.19%
2016 23,806 -1,336 -5.31%
2017 20,103 -3,703 -15.55%
2018 21,564 1,461 7.27%
2019 23,333 1,769 8.20%
2020 23,383 50 0.21%
2021 24,687 1,304 5.58%
Need Income insights or broader demographics data for Fayette?
We can help you with custom data for Fayette, other cities in Jefferson County, any place in Mississippi, or across the USA!
Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time ✎ Custom Dataset: Fayette Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

TABLE OF CONTENTS

Fayette, MS median household income trends: 2010 to 2021

From 2010 to 2021, the median household income for Fayette increased by $6,102 (32.83%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 8 years and declined for 3 years.

The line chart shows Fayette, MS median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Fayette, MS median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. We observed that the median household income experienced growth year by year for 8 years and declined for 3 years. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 2,939 (from $21,880 to $24,819). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 3,703 (from $23,806 to $20,103).

In Mississippi, among cities with populations of fewer than 5,000 residents, Fayette ranks 184th out of 211 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Mississippi.

Fayette, MS income distribution and inequality

To gain a comprehensive understanding of income distribution in Fayette, we conducted an analysis of quintiles data from the U.S. Census Bureau. While the bureau does not categorize income into subjective classes like lower-income, middle-class, or upper-class, they instead divide the population into five quintiles, ensuring that each quintile represents nearly the same number of households. This classification allows us to analyze income levels across a spectrum from the lowest to the highest income groups.

Bar chart illustrating the Fayette mean household income for different quintiles, plus the top 5%, with values adjusted for 2022 inflation using R-CPI-U-RS. The chart provides insights into income distribution, showcasing variations across quintiles and highlighting the income of the top 5%. Useful for analyzing income disparities and trends for Fayette.
Mean household income by quintiles in Fayette, MS (in 2022 inflation-adjusted dollars): The mean household income for the wealthiest population (top 5%) is 197,270, which is 173.49% higher compared to the highest quintile, and 4590.88% higher compared to the lowest quintile. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Mean household income by quintile in Fayette

The table below presents the mean household income for each of the five quintiles in Fayette, offering valuable insights into income distribution and inequality.

Income Level Mean Household Income
Lowest Quintile 4,297
Second Quintile 12,173
Third Quintile 23,337
Fourth Quintile 39,330
Highest Quintile 113,709
Top 5 Percent 197,270
Exploring Fayette's Diversity? Request Customized Data Now!

Key findings:

  • Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 4,297, while the mean income for the highest quintile (20% of households with the highest income) is 113,709. This indicates that the top earners earn 26 times compared to the lowest earners.
  • Top 5%: The mean household income for the wealthiest population (top 5%) is 197,270, which is 173.49% higher compared to the highest quintile, and 4590.88% higher compared to the lowest quintile.

Furthermore, as per the Census Bureau, the Gini coefficient for Fayette is 0.5502. Gini coefficient is a numeric measure ranging from 0 to 1, where lower numbers indicate greater income equality (with 0 representing complete equality, where all households earn the same income) and higher values signify greater income inequality (with 1 being complete inequality where one household receives all income).

Gini coefficient:
0.5502

Sources: U.S. Census Bureau, American Community Survey (ACS)

With a Gini coefficient of 0.5502, it is evident that income distribution in Fayette, MS exihibits characterstics of moderate inequality .

This level of Gini coefficient suggests noticeable variations in income distribution across households, with certain segments of the population holding a larger share of income compared to others in Fayette.

It also implies that efforts may be needed to enhance economic fairness and reduce the gap between income groups in Fayette

Median household income in Fayette, MS by family type, 2021

The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Fayette reveals how household income distribution varies among these categories.

Interestingly, we found that the median household income did vary between family households and non-family households. In 2021, for Fayette, there were a total of 375 family households and 186 non-family households.

For the family households, the median income (in 2022 inflation-adjusted dollars) was $25,126. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.

Fayette, MS households by income brackets: family, non-family, and total, 2021, in 2022 inflation-adjusted dollars

The table below presents a breakdown of households across various income brackets in Fayette. The data in the table offers insights into the distribution of Fayette households based on income levels.

Income Level All Households % All Households Family Households % Family Households Non-Family Households % Non-Family Households
Total: 561 100.00% 375 100.00% 186 100.00%
Less than $10,000 200 35.65% 96 25.60% 104 55.91%
$10,000 to $14,999 12 2.14% 9 2.40% 3 1.61%
$15,000 to $19,999 50 8.91% 50 13.33% - -
$20,000 to $24,999 87 15.51% 69 18.40% 18 9.68%
$25,000 to $29,999 26 4.63% 19 5.07% 7 3.76%
$30,000 to $34,999 10 1.78% 3 0.80% 7 3.76%
$35,000 to $39,999 32 5.70% 7 1.87% 25 13.44%
$40,000 to $44,999 13 2.32% 13 3.47% - -
$45,000 to $49,999 4 0.71% 4 1.07% - -
$50,000 to $59,999 19 3.39% 19 5.07% - -
$60,000 to $74,999 40 7.13% 18 4.80% 22 11.83%
$75,000 to $99,999 31 5.53% 31 8.27% - -
$100,000 to $124,999 15 2.67% 15 4.00% - -
$125,000 to $149,999 6 1.07% 6 1.60% - -
$150,000 to $199,999 9 1.60% 9 2.40% - -
$200,000 or more 7 1.25% 7 1.87% - -
Exploring Fayette's Diversity? Request Customized Data Now!

Key findings:

  • For Family Households: In Fayette, the majority of family households, representing 25.6%, earn Less than $10,000, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising 0.8%, have incomes falling $15,000 to $19,999, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Fayette, the majority of non-family households, accounting for 55.91%, have income Less than $10,000, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising 0.0%, earn $15,000 to $19,999, representing a smaller, yet notable, portion of non-family households in the community.
  • For Total Households (Combining Family and Non-Family): When considering total households in Fayette, the majority, constituting 35.65%, earn Less than $10,000, demonstrating that a significant portion of community households falls within this income bracket. Simultaneously, the minority of total households, representing 0.71%, have incomes $45,000 to $49,999, signifying a smaller segment of households in the community.

Things to know

What is the Gini index for Fayette, MS?

As per the Census Bureau, the Gini coefficient for Fayette is 0.5502. With this value of Gini coefficient, it is evident that income distribution in Fayette exihibits characterstics of moderate inequality .

This level of Gini coefficient suggests noticeable variations in income distribution across households, with certain segments of the population holding a larger share of income compared to others in Fayette.

It also implies that efforts may be needed to enhance economic fairness and reduce the gap between income groups in Fayette

What is the median household income in Fayette, MS?

As per the latest data available from American Community Survey, the median household income for Fayette is $24,687 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 33.09% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).

How does Fayette, MS median household income compare to the rest of the United States?

In Mississippi, among cities with populations of fewer than 5,000 residents, Fayette ranks 184th out of 211 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Mississippi.

References

Datasets

Explore datasets by year of publication.
2023
Fayette, MS households by income brackets: family, non-family, and total, in 2022 inflation-adjusted dollars
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents a breakdown of households across various income brackets in Fayette, MS, as reported by the U.S. Census Bureau. The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Fayette, MS reveals how household income distribution varies among these categories. The dataset highlights the variation in number of households with income, offering valuable insights into the distribution of Fayette households based on income levels.

Key observations

  • For Family Households: In Fayette, the majority of family households, representing 25.6%, earn Less than $10,000, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising 0.8%, have incomes falling $15,000 to $19,999, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Fayette, the majority of non-family households, accounting for 55.91%, have income Less than $10,000, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising 0.0%, earn $15,000 to $19,999, representing a smaller, yet notable, portion of non-family households in the community.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income Levels:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Income Level: The income level represents the income brackets ranging from Less than $10,000 to $200,000 or more in Fayette, MS (As mentioned above).
  • All Households: Count of households for the specified income level
  • % All Households: Percentage of households at the specified income level relative to the total households in Fayette, MS
  • Family Households: Count of family households for the specified income level
  • % Family Households: Percentage of family households at the specified income level relative to the total family households in Fayette, MS
  • Non-Family Households: Count of non-family households for the specified income level
  • % Non-Family Households: Percentage of non-family households at the specified income level relative to the total non-family households in Fayette, MS

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Fayette median household income. You can refer the same here

Fayette, MS Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset illustrates the median household income in Fayette, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Fayette increased by $6,102 (32.83%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 8 years and declined for 3 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

  • 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

  • Year: This column presents the data year from 2010 to 2021
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
  • YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
  • YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Fayette median household income. You can refer the same here

Income Distribution by Quintile: Mean Household Income in Fayette, MS
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents the mean household income for each of the five quintiles in Fayette, MS, as reported by the U.S. Census Bureau. The dataset highlights the variation in mean household income across quintiles, offering valuable insights into income distribution and inequality.

Key observations

  • Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 4,297, while the mean income for the highest quintile (20% of households with the highest income) is 113,709. This indicates that the top earners earn 26 times compared to the lowest earners.
  • *Top 5%: * The mean household income for the wealthiest population (top 5%) is 197,270, which is 173.49% higher compared to the highest quintile, and 4590.88% higher compared to the lowest quintile.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income Levels:

  • Lowest Quintile
  • Second Quintile
  • Third Quintile
  • Fourth Quintile
  • Highest Quintile
  • Top 5 Percent

Variables / Data Columns

  • Income Level: This column showcases the income levels (As mentioned above).
  • Mean Household Income: Mean household income, in 2022 inflation-adjusted dollars for the specific income level.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Fayette median household income. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore related topics

Fayette, MS Income Fayette, MS Demographics

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About the author

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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.
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Collection 5 Resources