Laredo, Texas Income Statistics
Laredo Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Laredo Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Laredo | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,621 | $78,939 | $80,455 |
| Median Personal Income | $42,416 | $56,913 | $60,758 |
| Average Yearly Income Growth | 6.4% | 4.6% | 4.8% |
| Six-Figure Earners | 5.7% | 13.0% | 13.9% |
| $200k+ Households | 5.1% | 12.5% | 13.2% |
The median household income in Laredo is about 22% lower than in Texas. Income has been growing faster in Laredo (6.4%/yr) than in Texas (4.6%/yr).
About 6% of adults in Laredo earn six figures ($100,000 or more) a year, lower than the Texas average of 13%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Laredo, Texas grew by 83.0% from 2009 to 2024, reaching $61,621 in 2024. That's an average of about 6.4% per year.
Income Inequality and the Gender Pay Gap in Laredo
| Metric | Laredo | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.598 | 0.570 | 0.552 |
| Male Median Income | $47,688 | $66,147 | $69,667 |
| Female Median Income | $38,381 | $53,058 | $56,850 |
| Gender Pay Gap | 19.5% | 19.8% | 18.4% |
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 Laredo, it is 0.598, higher than Texas's 0.570, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 24% more than women's income in Laredo, Texas. Over a 35-year career, a 24% wage gap accumulates to roughly $325,745 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Laredo, Texas has widened from about 15% to 20% in 2024. Over that period the gap was widest at 28% in 2022. In dollar terms, the gap has widened by $5,118 since 2009.
Employment
| Metric | Laredo | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.2% | 5.2% |
| Working from Home | 5.9% | 14.4% | 15.0% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 5,614 people are unemployed in Laredo, Texas.
The average commute time in Laredo is 18 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Laredo, Texas has fallen from 7.3% to 5.3% in 2024. Over that period the rate fell as low as 5.0% in 2019.
Conclusion
Considering all these factors, Laredo, Texas has an overall wealth index grade of D, making it somewhat worse than Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Laredo, Texas.
How Rich Is Laredo, Texas?
Laredo has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,621, about 22% lower than the Texas average of $78,939.
How has median household income changed in Laredo, Texas?
Between 2009 and 2024, the median household income in Laredo, Texas rose 83%, from $33,668 to $61,621. Over the same years, income here outpaced Texas as a whole: +83% against +64%.
What was the median household income in Laredo in 2023?
In 2023, the median household income in Laredo, Texas was $60,907, up 4% from $58,500 in 2022. The Texas median that year was $76,528.
What was the median household income in Laredo in 2020?
In 2020, the median household income in Laredo, Texas was $49,159. By 2024 it had risen 25% to $61,621.
What is the Gini coefficient in Laredo, Texas?
The Gini coefficient in Laredo is 0.598. 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 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Laredo, Texas?
Since 2009, the income gap between men and women in Laredo, Texas has widened from about 15% to 20% in 2024. Over that period the gap was widest at 28% in 2022. In dollar terms, the gap has widened by $5,118 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →