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 | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,560 | $76,510 | $78,145 |
| Median Personal Income | $46,195 | $58,415 | $61,726 |
| Average income growth | 3.9% | 4.8% | 5.1% |
| Six-Figure Earners | 4.9% | 12.4% | 13.2% |
The median household income in Concho County is about 22% lower than in Texas. Income has been growing slower in Concho County (3.9%/yr) than in Texas (4.8%/yr).
About 5% of adults in Concho 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 Concho County, Texas grew by 30.9% from 2009 to 2023, reaching $59,560 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Concho County | Gender Pay Gap | Gini Coefficient
| Metric | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.650 | 0.587 | 0.570 |
| Male Median Income | $47,916 | $64,517 | $67,746 |
| Female Median Income | $42,714 | $51,419 | $54,793 |
| Gender Pay Gap | 10.9% | 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 Concho County, it is 0.650, higher than Texas's 0.587, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 12% more than women's income in Concho County, Texas. Over a 35-year career, a 12% wage gap accumulates to roughly $182,070 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Concho County, Texas has narrowed from about 16% to 11% in 2023. In dollar terms, the gap has narrowed by $1,628 since 2009.
Employment
| Metric | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 5.1% | 5.2% |
| Working from Home | 4.4% | 12.8% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 11 people are unemployed in Concho County, Texas.
The average commute time in Concho County is 20 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Concho County, Texas has fallen from 3.8% to 1.0% in 2023.
Conclusion
Considering all these factors, Concho County, Texas has an overall wealth index grade of F, making it worse than Texas, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Concho County, Texas.
How Rich Is Concho County, Texas?
Concho County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $59,560, about 22% lower than the Texas average of $76,510.
What is the current median household income in Concho County, Texas?
As of 2023, the median household income in Concho County, Texas is $59,560.
What was the median household income in Concho County in 2023?
In 2023, the median household income in Concho County, Texas was $59,560.
What was the median household income in Concho County in 2020?
In 2020, the median household income in Concho County, Texas was $52,500.
What is the Gini coefficient in Concho County, Texas?
The Gini coefficient in Concho County is 0.650. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Concho County, Texas?
Since 2009, the income gap between men and women in Concho County, Texas has narrowed from about 16% to 11% in 2023. In dollar terms, the gap has narrowed by $1,628 since 2009.