Wealth Index
Wealthier than 91% of counties in Texas
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 | Borden County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,038 | $76,510 | $78,145 |
| Median Personal Income | $60,249 | $58,415 | $61,726 |
| Average income growth | -1.1% | 4.8% | 5.1% |
| Six-Figure Earners | 9.6% | 12.4% | 13.2% |
The median household income in Borden County is about 10% lower than in Texas. Income has been growing slower in Borden County (-1.1%/yr) than in Texas (4.8%/yr).
About 10% of adults in Borden 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 Borden County, Texas grew by 29.7% from 2009 to 2023, reaching $69,038 in 2023. That's an average of about 1.1% per year.
Economic Inequality in Borden County | Gender Pay Gap | Gini Coefficient
| Metric | Borden County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.587 | 0.570 |
| Male Median Income | $64,721 | $64,517 | $67,746 |
| Female Median Income | $49,472 | $51,419 | $54,793 |
| Gender Pay Gap | 23.6% | 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 Borden County, it is 0.555, 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.
Men's income is about 31% more than women's income in Borden County, Texas. Over a 35-year career, a 31% wage gap accumulates to roughly $533,715 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Borden County, Texas has widened from about 15% to 24% in 2023. In dollar terms, the gap has widened by $8,614 since 2009.
Employment
| Metric | Borden County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 5.1% | 5.2% |
| Working from Home | 4.5% | 12.8% | 13.4% |
| Commute time (minutes) | 11 | 22 | 22 |
Approximately 1 people are unemployed in Borden County, Texas.
The average commute time in Borden County is 11 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Borden County, Texas has fallen from 2.3% to 1.0% in 2023.
Conclusion
Considering all these factors, Borden County, Texas has an overall wealth index grade of B, making it somewhat better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Borden County, Texas.
How Rich Is Borden County, Texas?
Borden County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $69,038, about 10% lower than the Texas average of $76,510.
What is the current median household income in Borden County, Texas?
As of 2023, the median household income in Borden County, Texas is $69,038.
What was the median household income in Borden County in 2023?
In 2023, the median household income in Borden County, Texas was $69,038.
What was the median household income in Borden County in 2020?
In 2020, the median household income in Borden County, Texas was $80,682.
What is the Gini coefficient in Borden County, Texas?
The Gini coefficient in Borden County is 0.555. 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 Borden County, Texas?
Since 2009, the income gap between men and women in Borden County, Texas has widened from about 15% to 24% in 2023. In dollar terms, the gap has widened by $8,614 since 2009.