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 | Matagorda County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,760 | $76,510 | $78,145 |
| Median Personal Income | $52,982 | $58,415 | $61,726 |
| Average income growth | 4.4% | 4.8% | 5.1% |
| Six-Figure Earners | 7.5% | 12.4% | 13.2% |
The median household income in Matagorda County is about 27% lower than in Texas. Income has been growing slower in Matagorda County (4.4%/yr) than in Texas (4.8%/yr).
About 8% of adults in Matagorda 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 Matagorda County, Texas grew by 38.2% from 2009 to 2023, reaching $55,760 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Matagorda County | Gender Pay Gap | Gini Coefficient
| Metric | Matagorda County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.590 | 0.587 | 0.570 |
| Male Median Income | $58,821 | $64,517 | $67,746 |
| Female Median Income | $44,708 | $51,419 | $54,793 |
| Gender Pay Gap | 24.0% | 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 Matagorda County, it is 0.590, about the same as Texas's 0.587, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 32% more than women's income in Matagorda County, Texas. Over a 35-year career, a 32% wage gap accumulates to roughly $493,955 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Matagorda County, Texas has narrowed from about 36% to 24% in 2023. In dollar terms, the gap has narrowed by $1,703 since 2009.
Employment
| Metric | Matagorda County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 5.1% | 5.2% |
| Working from Home | 4.5% | 12.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 1,128 people are unemployed in Matagorda County, Texas.
The average commute time in Matagorda County is 17 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Matagorda County, Texas has fallen from 10.2% to 6.9% in 2023.
Conclusion
Considering all these factors, Matagorda 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 Matagorda County, Texas.
How Rich Is Matagorda County, Texas?
Matagorda 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 $55,760, about 27% lower than the Texas average of $76,510.
What is the current median household income in Matagorda County, Texas?
As of 2023, the median household income in Matagorda County, Texas is $55,760.
What was the median household income in Matagorda County in 2023?
In 2023, the median household income in Matagorda County, Texas was $55,760.
What was the median household income in Matagorda County in 2020?
In 2020, the median household income in Matagorda County, Texas was $48,147.
What is the Gini coefficient in Matagorda County, Texas?
The Gini coefficient in Matagorda County is 0.590. 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 Matagorda County, Texas?
Since 2009, the income gap between men and women in Matagorda County, Texas has narrowed from about 36% to 24% in 2023. In dollar terms, the gap has narrowed by $1,703 since 2009.