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 | Garland | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,334 | $76,510 | $78,145 |
| Median Personal Income | $74,334 | $76,510 | $78,145 |
| Average income growth | 4.9% | 4.9% | 4.9% |
The median household income in Garland is about 3% lower than in Texas. Income has been growing faster in Garland (4.9%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Garland, Texas grew by 44.7% from 2009 to 2023, reaching $74,334 in 2023. That's an average of about 3.2% per year.
Economic Inequality in Garland | Gender Pay Gap | Gini Coefficient
| Metric | Garland | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.551 | 0.587 | 0.570 |
| Male Median Income | $49,807 | $64,517 | $67,746 |
| Female Median Income | $44,057 | $51,419 | $54,793 |
| Gender Pay Gap | 11.5% | 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 Garland, it is 0.551, 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 13% more than women's income in Garland, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Garland, Texas has widened from about 3% to 12% in 2023.
Employment
| Metric | Garland | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.1% | 5.2% |
| Working from Home | 11.6% | 12.8% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
The average commute time in Garland is 30 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Garland, Texas has fallen from 9.5% to 5.0% in 2023.
Conclusion
Considering all these factors, Garland, 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 Garland, Texas.
How Rich Is Garland, Texas?
Garland 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 $74,334, about 3% lower than the Texas average of $76,510.
What is the current median household income in Garland, Texas?
As of 2023, the median household income in Garland, Texas is $74,334.
What was the median household income in Garland in 2023?
In 2023, the median household income in Garland, Texas was $74,334.
What was the median household income in Garland in 2020?
In 2020, the median household income in Garland, Texas was $63,192.
What is the Gini coefficient in Garland, Texas?
The Gini coefficient in Garland is 0.551. 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 Garland, Texas?
Since 2009, the income gap between men and women in Garland, Texas has widened from about 3% to 12% in 2023.