Wealth Index
Wealthier than 87% 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 | Hemphill County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,893 | $76,510 | $78,145 |
| Median Personal Income | $55,620 | $58,415 | $61,726 |
| Average income growth | 0.8% | 4.8% | 5.1% |
| Six-Figure Earners | 12.9% | 12.4% | 13.2% |
The median household income in Hemphill County is about 9% lower than in Texas. Income has been growing slower in Hemphill County (0.8%/yr) than in Texas (4.8%/yr).
About 13% of adults in Hemphill 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 Hemphill County, Texas grew by 16.0% from 2009 to 2023, reaching $69,893 in 2023. That's an average of about 0.8% per year.
Economic Inequality in Hemphill County | Gender Pay Gap | Gini Coefficient
| Metric | Hemphill County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.586 | 0.587 | 0.570 |
| Male Median Income | $71,115 | $64,517 | $67,746 |
| Female Median Income | $37,721 | $51,419 | $54,793 |
| Gender Pay Gap | 47.0% | 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 Hemphill County, it is 0.586, 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 89% more than women's income in Hemphill County, Texas. Over a 35-year career, a 89% wage gap accumulates to roughly $1,168,790 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hemphill County, Texas has widened from about 45% to 47% in 2023. In dollar terms, the gap has widened by $10,672 since 2009.
Employment
| Metric | Hemphill County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 5.1% | 5.2% |
| Working from Home | 5.8% | 12.8% | 13.4% |
| Commute time (minutes) | 8 | 22 | 22 |
Approximately 77 people are unemployed in Hemphill County, Texas.
The average commute time in Hemphill County is 8 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hemphill County, Texas has risen from 1.0% to 4.8% in 2023.
Conclusion
Considering all these factors, Hemphill 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 Hemphill County, Texas.
How Rich Is Hemphill County, Texas?
Hemphill 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 $69,893, about 9% lower than the Texas average of $76,510.
What is the current median household income in Hemphill County, Texas?
As of 2023, the median household income in Hemphill County, Texas is $69,893.
What was the median household income in Hemphill County in 2023?
In 2023, the median household income in Hemphill County, Texas was $69,893.
What was the median household income in Hemphill County in 2020?
In 2020, the median household income in Hemphill County, Texas was $59,515.
What is the Gini coefficient in Hemphill County, Texas?
The Gini coefficient in Hemphill County is 0.586. 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 Hemphill County, Texas?
Since 2009, the income gap between men and women in Hemphill County, Texas has widened from about 45% to 47% in 2023. In dollar terms, the gap has widened by $10,672 since 2009.