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 | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,916 | $76,510 | $78,145 |
| Median Personal Income | $47,488 | $58,415 | $61,726 |
| Average income growth | 1.9% | 4.8% | 5.1% |
| Six-Figure Earners | 4.0% | 12.4% | 13.2% |
The median household income in Deaf Smith County is about 28% lower than in Texas. Income has been growing slower in Deaf Smith County (1.9%/yr) than in Texas (4.8%/yr).
About 4% of adults in Deaf Smith 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 Deaf Smith County, Texas grew by 41.9% from 2009 to 2023, reaching $54,916 in 2023. That's an average of about 1.9% per year.
Economic Inequality in Deaf Smith County | Gender Pay Gap | Gini Coefficient
| Metric | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.544 | 0.587 | 0.570 |
| Male Median Income | $51,702 | $64,517 | $67,746 |
| Female Median Income | $41,717 | $51,419 | $54,793 |
| Gender Pay Gap | 19.3% | 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 Deaf Smith County, it is 0.544, 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 24% more than women's income in Deaf Smith County, Texas. Over a 35-year career, a 24% wage gap accumulates to roughly $349,475 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Deaf Smith County, Texas has narrowed from about 32% to 19% in 2023. In dollar terms, the gap has narrowed by $484 since 2009.
Employment
| Metric | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 5.1% | 5.2% |
| Working from Home | 3.3% | 12.8% | 13.4% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 280 people are unemployed in Deaf Smith County, Texas.
The average commute time in Deaf Smith County is 12 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Deaf Smith County, Texas has fallen from 6.7% to 3.3% in 2023.
Conclusion
Considering all these factors, Deaf Smith County, Texas has an overall wealth index grade of D, making it about on par with Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Deaf Smith County, Texas.
How Rich Is Deaf Smith County, Texas?
Deaf Smith 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 $54,916, about 28% lower than the Texas average of $76,510.
What is the current median household income in Deaf Smith County, Texas?
As of 2023, the median household income in Deaf Smith County, Texas is $54,916.
What was the median household income in Deaf Smith County in 2023?
In 2023, the median household income in Deaf Smith County, Texas was $54,916.
What was the median household income in Deaf Smith County in 2020?
In 2020, the median household income in Deaf Smith County, Texas was $49,842.
What is the Gini coefficient in Deaf Smith County, Texas?
The Gini coefficient in Deaf Smith County is 0.544. 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 Deaf Smith County, Texas?
Since 2009, the income gap between men and women in Deaf Smith County, Texas has narrowed from about 32% to 19% in 2023. In dollar terms, the gap has narrowed by $484 since 2009.