Missouri Median Income vs Gas Prices

This story map examines trends in Missouri Median Household Income in comparison to gas prices. Data about Missouri income comes from the  American Community Survey  via the  Missouri Census Data Center , and energy costs data are based off the  Consumer Price Index  from the  United States Bureau of Labor Statistics . County level gas prices have been taken from the  AAA Missouri Gas Prices , which updates each day.

The average Missouri Median Household Income from 2016 to 2020, as reported in the American Community Survey, was an estimated $57,290. This is almost $8,000 lower than the country as a whole, which has an estimated Median Household Income of $64,994. This difference means that Missourians could be more subject to increases in cost of living. The estimated Missouri Median Household Income from 2012 to 2016 was $49,593 compared to the $57,290 from 2016 to 2020, an increase of around 15 percent in 4 years (ACS).

During the first half of 2022, we have seen the cost of energy increase dramatically. Gas prices, in particular, have been something of a roller coaster, as they are highly vulnerable to global events and oil supply. According to the Bureau of Labor Statistics Consumer Price Index, through the past 10 years, Midwest gas prices have gone from $3.676 per gallon in 2012, to only $2.096 in 2020. Granted, in 2020 there were many factors contributing to the decreased gas prices, including the onset of the COVID-19 pandemic and the associated lockdowns. On the whole, though, gas prices were on the decline during this time. In the last 2 years, the price of gas has increased from $2.096 per gallon in 2020, to over $4 per gallon so far in 2022, which equates to (at least) a 90 percent increase.

The above map represents county-level data from AAA that were harvested on 02 June 2022. From these data, we can clearly see an average price per gallon of regular unleaded that ranges from a low of $4.113 to a high of $4.543 (found in Jefferson county). There is a very obvious clustering of higher prices along the Interstate 70 corridor, but especially along the eastern half of the route.

Overall, Missouri has below the national average Median Household Income, and gas prices and energy costs have definitely been on the rise through the last couple of years. Different regions of Missouri will be affected differently based on the geography of the area and their incomes. From the data gathered here, Southeastern Missouri is the poorest region, and as a result could be impacted more by the energy price increase. However, despite where people live, lower income individuals everywhere will no doubt feel the impact of higher gas prices the most.