Wealth Index
Wealthier than 76% 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 | Dallas County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,237 | $76,510 | $78,145 |
| Median Personal Income | $55,647 | $58,415 | $61,726 |
| Average income growth | 5.3% | 4.8% | 5.1% |
| Six-Figure Earners | 12.0% | 12.4% | 13.2% |
The median household income in Dallas County is about 3% lower than in Texas. Income has been growing faster in Dallas County (5.3%/yr) than in Texas (4.8%/yr).
About 12% of adults in Dallas 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 Dallas County, Texas grew by 57.7% from 2009 to 2023, reaching $74,237 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Dallas County | Gender Pay Gap | Gini Coefficient
| Metric | Dallas County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.587 | 0.570 |
| Male Median Income | $58,506 | $64,517 | $67,746 |
| Female Median Income | $52,311 | $51,419 | $54,793 |
| Gender Pay Gap | 10.6% | 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 County, it is 0.574, lower than Texas's 0.587, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 12% more than women's income in Dallas County, Texas. Over a 35-year career, a 12% wage gap accumulates to roughly $216,825 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Dallas County, Texas has widened from about 3% to 11% in 2023. In dollar terms, the gap has widened by $5,134 since 2009.
Employment
| Metric | Dallas County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.1% | 5.2% |
| Working from Home | 13.9% | 12.8% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 67,945 people are unemployed in Dallas County, Texas.
The average commute time in Dallas County is 25 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Dallas County, Texas has fallen from 8.2% to 4.9% in 2023.
Conclusion
Considering all these factors, Dallas County, 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 County, Texas.
How Rich Is Dallas County, Texas?
Dallas County 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 $74,237, about 3% lower than the Texas average of $76,510.
What is the current median household income in Dallas County, Texas?
As of 2023, the median household income in Dallas County, Texas is $74,237.
What was the median household income in Dallas County in 2023?
In 2023, the median household income in Dallas County, Texas was $74,237.
What was the median household income in Dallas County in 2020?
In 2020, the median household income in Dallas County, Texas was $62,135.
What is the Gini coefficient in Dallas County, Texas?
The Gini coefficient in Dallas County is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Dallas County, Texas?
Since 2009, the income gap between men and women in Dallas County, Texas has widened from about 3% to 11% in 2023. In dollar terms, the gap has widened by $5,134 since 2009.