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 | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,348 | $76,510 | $78,145 |
| Median Personal Income | $76,348 | $76,510 | $78,145 |
| Average income growth | 4.9% | 4.9% | 4.9% |
The median household income in Fort Worth is about the same as in Texas. Income has been growing faster in Fort Worth (4.9%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Fort Worth, Texas grew by 62.2% from 2009 to 2023, reaching $76,348 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Fort Worth | Gender Pay Gap | Gini Coefficient
| Metric | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.572 | 0.587 | 0.570 |
| Male Median Income | $61,257 | $64,517 | $67,746 |
| Female Median Income | $52,573 | $51,419 | $54,793 |
| Gender Pay Gap | 14.2% | 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 Fort Worth, it is 0.572, 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 17% more than women's income in Fort Worth, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fort Worth, Texas has narrowed from about 17% to 14% in 2023.
Employment
| Metric | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.1% | 5.2% |
| Working from Home | 12.7% | 12.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
The average commute time in Fort Worth is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fort Worth, Texas has fallen from 8.7% to 4.9% in 2023.
Conclusion
Considering all these factors, Fort Worth, 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 Fort Worth, Texas.
How Rich Is Fort Worth, Texas?
Fort Worth 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 $76,348, close to the Texas average of $76,510.
What is the current median household income in Fort Worth, Texas?
As of 2023, the median household income in Fort Worth, Texas is $76,348.
What was the median household income in Fort Worth in 2023?
In 2023, the median household income in Fort Worth, Texas was $76,348.
What was the median household income in Fort Worth in 2020?
In 2020, the median household income in Fort Worth, Texas was $64,924.
What is the Gini coefficient in Fort Worth, Texas?
The Gini coefficient in Fort Worth is 0.572. 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 Fort Worth, Texas?
Since 2009, the income gap between men and women in Fort Worth, Texas has narrowed from about 17% to 14% in 2023.