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 | Baylor County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $43,826 | $76,510 | $78,145 |
| Median Personal Income | $49,305 | $58,415 | $61,726 |
| Average income growth | 4.0% | 4.8% | 5.1% |
| Six-Figure Earners | 5.8% | 12.4% | 13.2% |
The median household income in Baylor County is about 43% lower than in Texas. Income has been growing slower in Baylor County (4.0%/yr) than in Texas (4.8%/yr).
About 6% of adults in Baylor County earn six figures ($100,000 or more) a year, lower than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Baylor County, Texas grew by 31.7% from 2009 to 2023, reaching $43,826 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Baylor County | Gender Pay Gap | Gini Coefficient
| Metric | Baylor County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.475 | 0.587 | 0.570 |
| Male Median Income | $48,897 | $64,517 | $67,746 |
| Female Median Income | $55,104 | $51,419 | $54,793 |
| Gender Pay Gap | -12.7% | 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 Baylor County, it is 0.475, 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 13% more than men's income in Baylor County, Texas. Over a 35-year career, a 13% wage gap accumulates to roughly $217,245 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Baylor County, Texas has narrowed from about 35% to -13% in 2023. In dollar terms, the gap has narrowed by $18,887 since 2009.
Employment
| Metric | Baylor County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 5.1% | 5.2% |
| Working from Home | 3.7% | 12.8% | 13.4% |
| Commute time (minutes) | 8 | 22 | 22 |
Approximately 55 people are unemployed in Baylor County, Texas.
The average commute time in Baylor County is 8 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Baylor County, Texas has fallen from 4.9% to 3.8% in 2023.
Conclusion
Considering all these factors, Baylor County, 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 Baylor County, Texas.
How Rich Is Baylor County, Texas?
Baylor County 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 $43,826, about 43% lower than the Texas average of $76,510.
What is the current median household income in Baylor County, Texas?
As of 2023, the median household income in Baylor County, Texas is $43,826.
What was the median household income in Baylor County in 2023?
In 2023, the median household income in Baylor County, Texas was $43,826.
What was the median household income in Baylor County in 2020?
In 2020, the median household income in Baylor County, Texas was $41,891.
What is the Gini coefficient in Baylor County, Texas?
The Gini coefficient in Baylor County is 0.475. 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 Baylor County, Texas?
Since 2009, the income gap between men and women in Baylor County, Texas has narrowed from about 35% to -13% in 2023. In dollar terms, the gap has narrowed by $18,887 since 2009.