Wealth Index
Wealthier than 93% 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 | Galveston County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,478 | $76,510 | $78,145 |
| Median Personal Income | $69,664 | $58,415 | $61,726 |
| Average income growth | 4.5% | 4.8% | 5.1% |
| Six-Figure Earners | 16.4% | 12.4% | 13.2% |
The median household income in Galveston County is about 13% higher than in Texas. Income has been growing slower in Galveston County (4.5%/yr) than in Texas (4.8%/yr).
About 16% of adults in Galveston County earn six figures ($100,000 or more) a year, higher than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Galveston County, Texas grew by 57.6% from 2009 to 2023, reaching $86,478 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Galveston County | Gender Pay Gap | Gini Coefficient
| Metric | Galveston County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.587 | 0.570 |
| Male Median Income | $80,104 | $64,517 | $67,746 |
| Female Median Income | $60,229 | $51,419 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Galveston County, it is 0.583, about the same as Texas's 0.587, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 33% more than women's income in Galveston County, Texas. Over a 35-year career, a 33% wage gap accumulates to roughly $695,625 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Galveston County, Texas has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $5,234 since 2009.
Employment
| Metric | Galveston County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 5.1% | 5.2% |
| Working from Home | 10.6% | 12.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 9,882 people are unemployed in Galveston County, Texas.
The average commute time in Galveston County is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Galveston County, Texas has fallen from 7.7% to 5.5% in 2023.
Conclusion
Considering all these factors, Galveston County, Texas has an overall wealth index grade of B, making it somewhat better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Galveston County, Texas.
How Rich Is Galveston County, Texas?
Galveston County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $86,478, about 13% higher than the Texas average of $76,510.
What is the current median household income in Galveston County, Texas?
As of 2023, the median household income in Galveston County, Texas is $86,478.
What was the median household income in Galveston County in 2023?
In 2023, the median household income in Galveston County, Texas was $86,478.
What was the median household income in Galveston County in 2020?
In 2020, the median household income in Galveston County, Texas was $74,665.
What is the Gini coefficient in Galveston County, Texas?
The Gini coefficient in Galveston County is 0.583. 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 Galveston County, Texas?
Since 2009, the income gap between men and women in Galveston County, Texas has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $5,234 since 2009.