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 | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,952 | $76,510 | $78,145 |
| Median Personal Income | $68,952 | $76,510 | $78,145 |
| Average income growth | 5.9% | 5.9% | 5.9% |
The median household income in Dallas is about 10% lower than in Texas. Income has been growing faster in Dallas (5.9%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Dallas, Texas grew by 62.7% from 2009 to 2023, reaching $68,952 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Dallas | Gender Pay Gap | Gini Coefficient
| Metric | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.579 | 0.587 | 0.570 |
| Male Median Income | $58,063 | $64,517 | $67,746 |
| Female Median Income | $52,798 | $51,419 | $54,793 |
| Gender Pay Gap | 9.1% | 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 Dallas, it is 0.579, lower than Texas's 0.587, so income is more 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 10% more than women's income in Dallas, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Dallas, Texas has widened from about 0% to 9% in 2023.
Employment
| Metric | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.1% | 5.2% |
| Working from Home | 14.2% | 12.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
The average commute time in Dallas is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Dallas, Texas has fallen from 8.5% to 4.9% in 2023.
Conclusion
Considering all these factors, Dallas, Texas has an overall wealth index grade of C, making it about on par with Texas, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Dallas, Texas.
How Rich Is Dallas, Texas?
Dallas has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $68,952, about 10% lower than the Texas average of $76,510.
What is the current median household income in Dallas, Texas?
As of 2023, the median household income in Dallas, Texas is $68,952.
What was the median household income in Dallas in 2023?
In 2023, the median household income in Dallas, Texas was $68,952.
What was the median household income in Dallas in 2020?
In 2020, the median household income in Dallas, Texas was $56,387.
What is the Gini coefficient in Dallas, Texas?
The Gini coefficient in Dallas is 0.579. 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 Dallas, Texas?
Since 2009, the income gap between men and women in Dallas, Texas has widened from about 0% to 9% in 2023.