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 | Lynn County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,142 | $76,510 | $78,145 |
| Median Personal Income | $57,903 | $58,415 | $61,726 |
| Average income growth | 5.2% | 4.8% | 5.1% |
| Six-Figure Earners | 10.4% | 12.4% | 13.2% |
The median household income in Lynn County is about 24% lower than in Texas. Income has been growing faster in Lynn County (5.2%/yr) than in Texas (4.8%/yr).
About 10% of adults in Lynn 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 Lynn County, Texas grew by 47.0% from 2009 to 2023, reaching $58,142 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Lynn County | Gender Pay Gap | Gini Coefficient
| Metric | Lynn County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.571 | 0.587 | 0.570 |
| Male Median Income | $68,991 | $64,517 | $67,746 |
| Female Median Income | $42,191 | $51,419 | $54,793 |
| Gender Pay Gap | 38.8% | 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 Lynn County, it is 0.571, lower than Texas's 0.587, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 64% more than women's income in Lynn County, Texas. Over a 35-year career, a 64% wage gap accumulates to roughly $938,000 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lynn County, Texas has widened from about 26% to 39% in 2023. In dollar terms, the gap has widened by $17,879 since 2009.
Employment
| Metric | Lynn County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 5.1% | 5.2% |
| Working from Home | 6.9% | 12.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 113 people are unemployed in Lynn County, Texas.
The average commute time in Lynn County is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lynn County, Texas has risen from 2.9% to 4.3% in 2023.
Conclusion
Considering all these factors, Lynn County, Texas has an overall wealth index grade of D, making it about on par with Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lynn County, Texas.
How Rich Is Lynn County, Texas?
Lynn County 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 $58,142, about 24% lower than the Texas average of $76,510.
What is the current median household income in Lynn County, Texas?
As of 2023, the median household income in Lynn County, Texas is $58,142.
What was the median household income in Lynn County in 2023?
In 2023, the median household income in Lynn County, Texas was $58,142.
What was the median household income in Lynn County in 2020?
In 2020, the median household income in Lynn County, Texas was $46,703.
What is the Gini coefficient in Lynn County, Texas?
The Gini coefficient in Lynn County is 0.571. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Lynn County, Texas?
Since 2009, the income gap between men and women in Lynn County, Texas has widened from about 26% to 39% in 2023. In dollar terms, the gap has widened by $17,879 since 2009.