Wealth Index
Less wealthy than 92% 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 | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,991 | $76,510 | $78,145 |
| Median Personal Income | $52,499 | $58,415 | $61,726 |
| Average income growth | 5.6% | 4.8% | 5.1% |
| Six-Figure Earners | 5.7% | 12.4% | 13.2% |
The median household income in Falls County is about 29% lower than in Texas. Income has been growing faster in Falls County (5.6%/yr) than in Texas (4.8%/yr).
About 6% of adults in Falls 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 Falls County, Texas grew by 77.2% from 2009 to 2023, reaching $53,991 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Falls County | Gender Pay Gap | Gini Coefficient
| Metric | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.605 | 0.587 | 0.570 |
| Male Median Income | $49,233 | $64,517 | $67,746 |
| Female Median Income | $56,990 | $51,419 | $54,793 |
| Gender Pay Gap | -15.8% | 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 Falls County, it is 0.605, 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.
Women's income is about 16% more than men's income in Falls County, Texas. Over a 35-year career, a 16% wage gap accumulates to roughly $271,495 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Falls County, Texas has narrowed from about 22% to -16% in 2023. In dollar terms, the gap has narrowed by $15,644 since 2009.
Employment
| Metric | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.2% | 5.1% | 5.2% |
| Working from Home | 10.9% | 12.8% | 13.4% |
| Commute time (minutes) | 28 | 22 | 22 |
Approximately 478 people are unemployed in Falls County, Texas.
The average commute time in Falls County is 28 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Falls County, Texas has fallen from 7.7% to 7.2% in 2023.
Conclusion
Considering all these factors, Falls 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 Falls County, Texas.
How Rich Is Falls County, Texas?
Falls 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 $53,991, about 29% lower than the Texas average of $76,510.
What is the current median household income in Falls County, Texas?
As of 2023, the median household income in Falls County, Texas is $53,991.
What was the median household income in Falls County in 2023?
In 2023, the median household income in Falls County, Texas was $53,991.
What was the median household income in Falls County in 2020?
In 2020, the median household income in Falls County, Texas was $37,022.
What is the Gini coefficient in Falls County, Texas?
The Gini coefficient in Falls County is 0.605. 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 Falls County, Texas?
Since 2009, the income gap between men and women in Falls County, Texas has narrowed from about 22% to -16% in 2023. In dollar terms, the gap has narrowed by $15,644 since 2009.