Wealth Index
Wealthier than 89% 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 | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,861 | $76,510 | $78,145 |
| Median Personal Income | $57,649 | $58,415 | $61,726 |
| Average income growth | 0.3% | 4.8% | 5.1% |
| Six-Figure Earners | 12.8% | 12.4% | 13.2% |
The median household income in Crane County is about 22% lower than in Texas. Income has been growing slower in Crane County (0.3%/yr) than in Texas (4.8%/yr).
About 13% of adults in Crane County earn six figures ($100,000 or more) a year, about the same as the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Crane County, Texas grew by 36.3% from 2009 to 2023, reaching $59,861 in 2023. That's an average of about 0.3% per year.
Economic Inequality in Crane County | Gender Pay Gap | Gini Coefficient
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.620 | 0.587 | 0.570 |
| Male Median Income | $61,433 | $64,517 | $67,746 |
| Female Median Income | $49,165 | $51,419 | $54,793 |
| Gender Pay Gap | 20.0% | 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 Crane County, it is 0.620, 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 25% more than women's income in Crane County, Texas. Over a 35-year career, a 25% wage gap accumulates to roughly $429,380 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Crane County, Texas has narrowed from about 54% to 20% in 2023. In dollar terms, the gap has narrowed by $16,675 since 2009.
Employment
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 5.1% | 5.2% |
| Working from Home | 1.1% | 12.8% | 13.4% |
| Commute time (minutes) | 15 | 22 | 22 |
Approximately 84 people are unemployed in Crane County, Texas.
The average commute time in Crane County is 15 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Crane County, Texas has fallen from 9.1% to 3.7% in 2023.
Conclusion
Considering all these factors, Crane 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 Crane County, Texas.
How Rich Is Crane County, Texas?
Crane 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 $59,861, about 22% lower than the Texas average of $76,510.
What is the current median household income in Crane County, Texas?
As of 2023, the median household income in Crane County, Texas is $59,861.
What was the median household income in Crane County in 2023?
In 2023, the median household income in Crane County, Texas was $59,861.
What was the median household income in Crane County in 2020?
In 2020, the median household income in Crane County, Texas was $58,290.
What is the Gini coefficient in Crane County, Texas?
The Gini coefficient in Crane County is 0.620. 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 Crane County, Texas?
Since 2009, the income gap between men and women in Crane County, Texas has narrowed from about 54% to 20% in 2023. In dollar terms, the gap has narrowed by $16,675 since 2009.