Wealth Index
Wealthier than 84% 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 | Hardin County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,754 | $76,510 | $78,145 |
| Median Personal Income | $64,212 | $58,415 | $61,726 |
| Average income growth | 3.9% | 4.8% | 5.1% |
| Six-Figure Earners | 12.3% | 12.4% | 13.2% |
The median household income in Hardin County is about 5% lower than in Texas. Income has been growing slower in Hardin County (3.9%/yr) than in Texas (4.8%/yr).
About 12% of adults in Hardin County earn six figures ($100,000 or more) a year, about the same as the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hardin County, Texas grew by 39.6% from 2009 to 2023, reaching $72,754 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Hardin County | Gender Pay Gap | Gini Coefficient
| Metric | Hardin County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.587 | 0.570 |
| Male Median Income | $75,836 | $64,517 | $67,746 |
| Female Median Income | $49,917 | $51,419 | $54,793 |
| Gender Pay Gap | 34.2% | 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 Hardin County, it is 0.588, 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 52% more than women's income in Hardin County, Texas. Over a 35-year career, a 52% wage gap accumulates to roughly $907,165 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hardin County, Texas has narrowed from about 42% to 34% in 2023. In dollar terms, the gap has widened by $4,079 since 2009.
Employment
| Metric | Hardin County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 5.1% | 5.2% |
| Working from Home | 4.0% | 12.8% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 1,323 people are unemployed in Hardin County, Texas.
The average commute time in Hardin County is 30 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hardin County, Texas has fallen from 6.8% to 5.1% in 2023.
Conclusion
Considering all these factors, Hardin 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 Hardin County, Texas.
How Rich Is Hardin County, Texas?
Hardin 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 $72,754, about 5% lower than the Texas average of $76,510.
What is the current median household income in Hardin County, Texas?
As of 2023, the median household income in Hardin County, Texas is $72,754.
What was the median household income in Hardin County in 2023?
In 2023, the median household income in Hardin County, Texas was $72,754.
What was the median household income in Hardin County in 2020?
In 2020, the median household income in Hardin County, Texas was $62,004.
What is the Gini coefficient in Hardin County, Texas?
The Gini coefficient in Hardin County is 0.588. 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 Hardin County, Texas?
Since 2009, the income gap between men and women in Hardin County, Texas has narrowed from about 42% to 34% in 2023. In dollar terms, the gap has widened by $4,079 since 2009.