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 | Castro County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,025 | $76,510 | $78,145 |
| Median Personal Income | $50,906 | $58,415 | $61,726 |
| Average income growth | 6.2% | 4.8% | 5.1% |
| Six-Figure Earners | 6.2% | 12.4% | 13.2% |
The median household income in Castro County is about 16% lower than in Texas. Income has been growing faster in Castro County (6.2%/yr) than in Texas (4.8%/yr).
About 6% of adults in Castro 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 Castro County, Texas grew by 83.6% from 2009 to 2023, reaching $64,025 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Castro County | Gender Pay Gap | Gini Coefficient
| Metric | Castro County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.536 | 0.587 | 0.570 |
| Male Median Income | $57,292 | $64,517 | $67,746 |
| Female Median Income | $46,874 | $51,419 | $54,793 |
| Gender Pay Gap | 18.2% | 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 Castro County, it is 0.536, 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 22% more than women's income in Castro County, Texas. Over a 35-year career, a 22% wage gap accumulates to roughly $364,630 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Castro County, Texas has widened from about 6% to 18% in 2023. In dollar terms, the gap has widened by $8,590 since 2009.
Employment
| Metric | Castro County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 5.1% | 5.2% |
| Working from Home | 3.9% | 12.8% | 13.4% |
| Commute time (minutes) | 10 | 22 | 22 |
Approximately 95 people are unemployed in Castro County, Texas.
The average commute time in Castro County is 10 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Castro County, Texas has fallen from 4.3% to 2.7% in 2023.
Conclusion
Considering all these factors, Castro County, Texas has an overall wealth index grade of D, making it about on par with Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Castro County, Texas.
How Rich Is Castro County, Texas?
Castro 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 $64,025, about 16% lower than the Texas average of $76,510.
What is the current median household income in Castro County, Texas?
As of 2023, the median household income in Castro County, Texas is $64,025.
What was the median household income in Castro County in 2023?
In 2023, the median household income in Castro County, Texas was $64,025.
What was the median household income in Castro County in 2020?
In 2020, the median household income in Castro County, Texas was $49,835.
What is the Gini coefficient in Castro County, Texas?
The Gini coefficient in Castro County is 0.536. 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 Castro County, Texas?
Since 2009, the income gap between men and women in Castro County, Texas has widened from about 6% to 18% in 2023. In dollar terms, the gap has widened by $8,590 since 2009.