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 | Little Elm | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $121,036 | $76,510 | $78,145 |
| Median Personal Income | $121,036 | $76,510 | $78,145 |
| Average income growth | 4.7% | 4.7% | 4.7% |
The median household income in Little Elm is about 58% higher than in Texas. Income has been growing slower in Little Elm (4.7%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Little Elm, Texas grew by 54.0% from 2009 to 2023, reaching $121,036 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Little Elm | Gender Pay Gap | Gini Coefficient
| Metric | Little Elm | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.587 | 0.570 |
| Male Median Income | $89,901 | $64,517 | $67,746 |
| Female Median Income | $67,911 | $51,419 | $54,793 |
| Gender Pay Gap | 24.5% | 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 Little Elm, it is 0.529, 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 32% more than women's income in Little Elm, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Little Elm, Texas has widened from about 17% to 24% in 2023.
Employment
| Metric | Little Elm | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 5.1% | 5.2% |
| Working from Home | 24.9% | 12.8% | 13.4% |
| Commute time (minutes) | 32 | 22 | 22 |
The average commute time in Little Elm is 32 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Little Elm, Texas has fallen from 8.4% to 5.2% in 2023.
Conclusion
Considering all these factors, Little Elm, Texas has an overall wealth index grade of A, making it far better than Texas, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Little Elm, Texas.
How Rich Is Little Elm, Texas?
Little Elm has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $121,036, about 58% higher than the Texas average of $76,510.
What is the current median household income in Little Elm, Texas?
As of 2023, the median household income in Little Elm, Texas is $121,036.
What was the median household income in Little Elm in 2023?
In 2023, the median household income in Little Elm, Texas was $121,036.
What was the median household income in Little Elm in 2020?
In 2020, the median household income in Little Elm, Texas was $103,775.
What is the Gini coefficient in Little Elm, Texas?
The Gini coefficient in Little Elm is 0.529. 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 Little Elm, Texas?
Since 2009, the income gap between men and women in Little Elm, Texas has widened from about 17% to 24% in 2023.