Wealth Index
Wealthier than 90% of counties in Texas
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 | Martin County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,024 | $76,510 | $78,145 |
| Median Personal Income | $62,246 | $58,415 | $61,726 |
| Average income growth | 3.0% | 4.8% | 5.1% |
| Six-Figure Earners | 17.8% | 12.4% | 13.2% |
The median household income in Martin County is about 2% higher than in Texas. Income has been growing slower in Martin County (3.0%/yr) than in Texas (4.8%/yr).
About 18% of adults in Martin County earn six figures ($100,000 or more) a year, higher than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Martin County, Texas grew by 103.2% from 2009 to 2023, reaching $78,024 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Martin County | Gender Pay Gap | Gini Coefficient
| Metric | Martin County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.595 | 0.587 | 0.570 |
| Male Median Income | $63,865 | $64,517 | $67,746 |
| Female Median Income | $58,375 | $51,419 | $54,793 |
| Gender Pay Gap | 8.6% | 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 Martin County, it is 0.595, higher than Texas's 0.587, so income is less 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 9% more than women's income in Martin County, Texas. Over a 35-year career, a 9% wage gap accumulates to roughly $192,150 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Martin County, Texas has narrowed from about 36% to 9% in 2023. In dollar terms, the gap has narrowed by $7,828 since 2009.
Employment
| Metric | Martin County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.3% | 5.1% | 5.2% |
| Working from Home | 1.1% | 12.8% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 160 people are unemployed in Martin County, Texas.
The average commute time in Martin County is 20 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Martin County, Texas has risen from 4.7% to 6.3% in 2023.
Conclusion
Considering all these factors, Martin County, Texas has an overall wealth index grade of B, making it somewhat better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Martin County, Texas.
How Rich Is Martin County, Texas?
Martin County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $78,024, about 2% higher than the Texas average of $76,510.
What is the current median household income in Martin County, Texas?
As of 2023, the median household income in Martin County, Texas is $78,024.
What was the median household income in Martin County in 2023?
In 2023, the median household income in Martin County, Texas was $78,024.
What was the median household income in Martin County in 2020?
In 2020, the median household income in Martin County, Texas was $71,485.
What is the Gini coefficient in Martin County, Texas?
The Gini coefficient in Martin County is 0.595. 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 Martin County, Texas?
Since 2009, the income gap between men and women in Martin County, Texas has narrowed from about 36% to 9% in 2023. In dollar terms, the gap has narrowed by $7,828 since 2009.