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 | Lubbock County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,833 | $76,510 | $78,145 |
| Median Personal Income | $51,450 | $58,415 | $61,726 |
| Average income growth | 4.4% | 4.8% | 5.1% |
| Six-Figure Earners | 9.2% | 12.4% | 13.2% |
The median household income in Lubbock County is about 17% lower than in Texas. Income has been growing slower in Lubbock County (4.4%/yr) than in Texas (4.8%/yr).
About 9% of adults in Lubbock 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 Lubbock County, Texas grew by 57.9% from 2009 to 2023, reaching $63,833 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Lubbock County | Gender Pay Gap | Gini Coefficient
| Metric | Lubbock County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.587 | 0.570 |
| Male Median Income | $58,636 | $64,517 | $67,746 |
| Female Median Income | $45,017 | $51,419 | $54,793 |
| Gender Pay Gap | 23.2% | 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 Lubbock County, it is 0.580, lower than Texas's 0.587, so income is more evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 30% more than women's income in Lubbock County, Texas. Over a 35-year career, a 30% wage gap accumulates to roughly $476,665 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Lubbock County, Texas has stayed about the same since 2009, at around 23%. In dollar terms, the gap has widened by $4,588 since 2009.
Employment
| Metric | Lubbock County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.1% | 5.2% |
| Working from Home | 6.7% | 12.8% | 13.4% |
| Commute time (minutes) | 15 | 22 | 22 |
Approximately 7,618 people are unemployed in Lubbock County, Texas.
The average commute time in Lubbock County is 15 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lubbock County, Texas has fallen from 6.2% to 4.7% in 2023.
Conclusion
Considering all these factors, Lubbock 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 Lubbock County, Texas.
How Rich Is Lubbock County, Texas?
Lubbock 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 $63,833, about 17% lower than the Texas average of $76,510.
What is the current median household income in Lubbock County, Texas?
As of 2023, the median household income in Lubbock County, Texas is $63,833.
What was the median household income in Lubbock County in 2023?
In 2023, the median household income in Lubbock County, Texas was $63,833.
What was the median household income in Lubbock County in 2020?
In 2020, the median household income in Lubbock County, Texas was $54,015.
What is the Gini coefficient in Lubbock County, Texas?
The Gini coefficient in Lubbock County is 0.580. 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 Lubbock County, Texas?
The income gap between men and women in Lubbock County, Texas has stayed about the same since 2009, at around 23%. In dollar terms, the gap has widened by $4,588 since 2009.