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 | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,433 | $76,510 | $78,145 |
| Median Personal Income | $48,428 | $58,415 | $61,726 |
| Average income growth | 4.9% | 4.8% | 5.1% |
| Six-Figure Earners | 6.5% | 12.4% | 13.2% |
The median household income in Hopkins County is about 17% lower than in Texas. Income has been growing faster in Hopkins County (4.9%/yr) than in Texas (4.8%/yr).
About 7% of adults in Hopkins County earn six figures ($100,000 or more) a year, lower than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hopkins County, Texas grew by 58.7% from 2009 to 2023, reaching $63,433 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Hopkins County | Gender Pay Gap | Gini Coefficient
| Metric | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.587 | 0.570 |
| Male Median Income | $55,590 | $64,517 | $67,746 |
| Female Median Income | $40,603 | $51,419 | $54,793 |
| Gender Pay Gap | 27.0% | 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 Hopkins County, it is 0.555, 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 37% more than women's income in Hopkins County, Texas. Over a 35-year career, a 37% wage gap accumulates to roughly $524,545 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hopkins County, Texas has narrowed from about 29% to 27% in 2023. In dollar terms, the gap has widened by $3,992 since 2009.
Employment
| Metric | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 5.1% | 5.2% |
| Working from Home | 7.1% | 12.8% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 824 people are unemployed in Hopkins County, Texas.
The average commute time in Hopkins County is 16 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hopkins County, Texas has fallen from 7.9% to 4.5% in 2023.
Conclusion
Considering all these factors, Hopkins County, 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 Hopkins County, Texas.
How Rich Is Hopkins County, Texas?
Hopkins County 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 $63,433, about 17% lower than the Texas average of $76,510.
What is the current median household income in Hopkins County, Texas?
As of 2023, the median household income in Hopkins County, Texas is $63,433.
What was the median household income in Hopkins County in 2023?
In 2023, the median household income in Hopkins County, Texas was $63,433.
What was the median household income in Hopkins County in 2020?
In 2020, the median household income in Hopkins County, Texas was $55,601.
What is the Gini coefficient in Hopkins County, Texas?
The Gini coefficient in Hopkins County is 0.555. 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 Hopkins County, Texas?
Since 2009, the income gap between men and women in Hopkins County, Texas has narrowed from about 29% to 27% in 2023. In dollar terms, the gap has widened by $3,992 since 2009.