Income & Economy in Prescott, MI
Household income, poverty rates, employment, and economic data — 2023 ACS Data
Income Overview
Source: U.S. Census Bureau ACS (2023)Median Household Income
$55,673
-24% vs national
Per Capita Income
$19,716
-47% vs national
Poverty Rate
23.4%
+72% vs national
Gini Index
0.4050
0 = perfect equality
Unemployment
14.8%
+184% vs national
SNAP Recipients
29.1%
of households
How Prescott Compares
Source: Census ACS (2023)Prescott vs Similar Cities
Source: Census ACS (2023)Compared to cities with under 10,000 residents. Prescott is highlighted.
Median Household Income
Per Capita Income
Poverty Rate
Unemployment Rate
Where Do You Stack Up?
Enter your household income to see how you compare to other households in Prescott. The median household income here is $55,673.
Income Distribution
Source: U.S. Census Bureau ACS (2023)Employment Snapshot
Source: U.S. Census Bureau ACS (2023)Unemployment Rate
14.8%
+164% vs MI avg
Labor Force
115
Employed
98
How People Get to Work
Source: Census ACS (2023)Employment by Sector
Source: Census ACS (2023)Education & Workforce
Source: U.S. Census Bureau ACS (2023)Bachelor's Degree+
5.7%
of adults 25+
High School Diploma+
36.4%
of adults 25+
Median Age
44.8
Work from Home
10.2%
of workers
The median household income in Prescott, MI is $55,673, which is 24.0% below the national average of $73,224. Per capita income is $19,716. The poverty rate of 23.4% is higher than the MI state average of 14.1%. The Gini index of income inequality is 0.4050, where 0 represents perfect equality and 1 represents maximum inequality. The unemployment rate is 14.8%, compared to the state average of 5.6%. 5.7% of adults hold a bachelor's degree or higher.