Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Balch Springs | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,553 | $76,510 | $78,145 |
| Median Personal Income | $65,553 | $76,510 | $78,145 |
| Average income growth | 7.3% | 7.3% | 7.3% |
The median household income in Balch Springs is about 14% lower than in Texas. Income has been growing faster in Balch Springs (7.3%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Balch Springs, Texas grew by 67.8% from 2009 to 2023, reaching $65,553 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Balch Springs | Gender Pay Gap | Gini Coefficient
| Metric | Balch Springs | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.587 | 0.570 |
| Male Median Income | $46,246 | $64,517 | $67,746 |
| Female Median Income | $52,500 | $51,419 | $54,793 |
| Gender Pay Gap | -13.5% | 20.3% | 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 Balch Springs, it is 0.533, lower than Texas's 0.587, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Women's income is about 14% more than men's income in Balch Springs, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Balch Springs, Texas has widened from about 4% to -14% in 2023.
Employment
| Metric | Balch Springs | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.5% | 5.1% | 5.2% |
| Working from Home | 7.9% | 12.8% | 13.4% |
| Commute time (minutes) | 32 | 22 | 22 |
The average commute time in Balch Springs is 32 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Balch Springs, Texas has fallen from 7.7% to 7.5% in 2023.
Conclusion
Considering all these factors, Balch Springs, Texas has an overall wealth index grade of D, making it somewhat worse than Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Balch Springs, Texas.
How Rich Is Balch Springs, Texas?
Balch Springs 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 $65,553, about 14% lower than the Texas average of $76,510.
What is the current median household income in Balch Springs, Texas?
As of 2023, the median household income in Balch Springs, Texas is $65,553.
What was the median household income in Balch Springs in 2023?
In 2023, the median household income in Balch Springs, Texas was $65,553.
What was the median household income in Balch Springs in 2020?
In 2020, the median household income in Balch Springs, Texas was $51,641.
What is the Gini coefficient in Balch Springs, Texas?
The Gini coefficient in Balch Springs is 0.533. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Balch Springs, Texas?
Since 2009, the income gap between men and women in Balch Springs, Texas has widened from about 4% to -14% in 2023.