McKinney, Texas Income Statistics
McKinney Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
A
McKinney Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $124,745 | $78,939 | $80,455 |
| Median Personal Income | $82,419 | $56,913 | $60,758 |
| Average Yearly Income Growth | 5.0% | 4.6% | 4.8% |
| Six-Figure Earners | 24.9% | 13.0% | 13.9% |
| $200k+ Households | 25.9% | 12.5% | 13.2% |
The median household income in McKinney is about 58% higher than in Texas. Income has been growing faster in McKinney (5.0%/yr) than in Texas (4.6%/yr).
About 25% of adults in McKinney earn six figures ($100,000 or more) a year, higher than the Texas average of 13%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in McKinney, Texas grew by 60.9% from 2009 to 2024, reaching $124,745 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in McKinney
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.542 | 0.570 | 0.552 |
| Male Median Income | $104,569 | $66,147 | $69,667 |
| Female Median Income | $70,340 | $53,058 | $56,850 |
| Gender Pay Gap | 32.7% | 19.8% | 18.4% |
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 McKinney, it is 0.542, lower than Texas's 0.570, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 49% more than women's income in McKinney, Texas. Over a 35-year career, a 49% wage gap accumulates to roughly $1,198,015 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McKinney, Texas has widened from about 31% to 33% in 2024. Over that period the gap was widest at 35% in 2020, and was narrowest at 25% in 2016. In dollar terms, the gap has widened by $14,973 since 2009.
Employment
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 5.2% | 5.2% |
| Working from Home | 24.3% | 14.4% | 15.0% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 3,815 people are unemployed in McKinney, Texas.
The average commute time in McKinney is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McKinney, Texas has fallen from 4.2% to 3.5% in 2024. Over that period the rate fell as low as 3.2% in 2019.
McKinney, TX Wealth Compared With Nearby Cities
How McKinney, TX compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| McKinney, TX | 200,953 | $124,745 #2/2 | 5.0%/yr #1/2 | 3.5% #1/2 | 0.542 #1/2 |
| Allen, TX | 102,687 | $129,041 | 3.2%/yr | 3.9% | 0.557 |
Conclusion
Considering all these factors, McKinney, Texas has an overall wealth index grade of A, making it notably better than Texas, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in McKinney, Texas.
How Rich Is McKinney, Texas?
McKinney 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 $124,745, about 58% higher than the Texas average of $78,939.
How has median household income changed in McKinney, Texas?
Between 2009 and 2024, the median household income in McKinney, Texas rose 61%, from $77,552 to $124,745. Over the same years, income here lagged behind Texas as a whole: +61% against +64%.
What was the median household income in McKinney in 2023?
In 2023, the median household income in McKinney, Texas was $118,780, up 5% from $112,599 in 2022. The Texas median that year was $76,528.
What was the median household income in McKinney in 2020?
In 2020, the median household income in McKinney, Texas was $101,435. By 2024 it had risen 23% to $124,745.
Do many residents of McKinney, Texas earn over $100,000?
Yes. 25% of adults in McKinney, Texas earn $100,000 or more a year (about 1 in 4), against 13% (about 1 in 8) in Texas. 26% of households have a combined income of $200,000 or more, compared with 12% in Texas.
Is it hard to find a job in McKinney, Texas?
Unemployment in McKinney, Texas is only 3.5%, well below the Texas rate of 5.2%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in McKinney, Texas?
The Gini coefficient in McKinney is 0.542. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in McKinney, Texas?
Since 2009, the income gap between men and women in McKinney, Texas has widened from about 31% to 33% in 2024. Over that period the gap was widest at 35% in 2020, and was narrowest at 25% in 2016. In dollar terms, the gap has widened by $14,973 since 2009.
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