Wealth Index
Less wealthy than 82% 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 | Cottle County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,136 | $76,510 | $78,145 |
| Median Personal Income | $63,954 | $58,415 | $61,726 |
| Average income growth | 8.0% | 4.8% | 5.1% |
| Six-Figure Earners | 7.9% | 12.4% | 13.2% |
The median household income in Cottle County is about 27% lower than in Texas. Income has been growing faster in Cottle County (8.0%/yr) than in Texas (4.8%/yr).
About 8% of adults in Cottle 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 Cottle County, Texas grew by 73.3% from 2009 to 2023, reaching $56,136 in 2023. That's an average of about 8.0% per year.
Economic Inequality in Cottle County | Gender Pay Gap | Gini Coefficient
| Metric | Cottle County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.557 | 0.587 | 0.570 |
| Male Median Income | $69,078 | $64,517 | $67,746 |
| Female Median Income | $56,964 | $51,419 | $54,793 |
| Gender Pay Gap | 17.5% | 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 Cottle County, it is 0.557, 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 21% more than women's income in Cottle County, Texas. Over a 35-year career, a 21% wage gap accumulates to roughly $423,990 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cottle County, Texas has narrowed from about 41% to 18% in 2023. In dollar terms, the gap has narrowed by $2,511 since 2009.
Employment
| Metric | Cottle County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 5.1% | 5.2% |
| Working from Home | 23.0% | 12.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 39 people are unemployed in Cottle County, Texas.
The average commute time in Cottle County is 17 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cottle County, Texas has risen from 2.0% to 6.4% in 2023.
Conclusion
Considering all these factors, Cottle 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 Cottle County, Texas.
How Rich Is Cottle County, Texas?
Cottle 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 $56,136, about 27% lower than the Texas average of $76,510.
What is the current median household income in Cottle County, Texas?
As of 2023, the median household income in Cottle County, Texas is $56,136.
What was the median household income in Cottle County in 2023?
In 2023, the median household income in Cottle County, Texas was $56,136.
What was the median household income in Cottle County in 2020?
In 2020, the median household income in Cottle County, Texas was $40,307.
What is the Gini coefficient in Cottle County, Texas?
The Gini coefficient in Cottle County is 0.557. 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 Cottle County, Texas?
Since 2009, the income gap between men and women in Cottle County, Texas has narrowed from about 41% to 18% in 2023. In dollar terms, the gap has narrowed by $2,511 since 2009.