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 | Mills County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,287 | $76,510 | $78,145 |
| Median Personal Income | $47,635 | $58,415 | $61,726 |
| Average income growth | 6.2% | 4.8% | 5.1% |
| Six-Figure Earners | 8.4% | 12.4% | 13.2% |
The median household income in Mills County is about 13% lower than in Texas. Income has been growing faster in Mills County (6.2%/yr) than in Texas (4.8%/yr).
About 8% of adults in Mills 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 Mills County, Texas grew by 94.0% from 2009 to 2023, reaching $66,287 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Mills County | Gender Pay Gap | Gini Coefficient
| Metric | Mills County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.587 | 0.570 |
| Male Median Income | $56,190 | $64,517 | $67,746 |
| Female Median Income | $45,373 | $51,419 | $54,793 |
| Gender Pay Gap | 19.3% | 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 Mills County, it is 0.556, lower than Texas's 0.587, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 24% more than women's income in Mills County, Texas. Over a 35-year career, a 24% wage gap accumulates to roughly $378,595 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mills County, Texas has widened from about 17% to 19% in 2023. In dollar terms, the gap has widened by $5,604 since 2009.
Employment
| Metric | Mills County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.1% | 5.2% |
| Working from Home | 7.7% | 12.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 79 people are unemployed in Mills County, Texas.
The average commute time in Mills County is 13 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mills County, Texas has fallen from 6.4% to 3.9% in 2023.
Conclusion
Considering all these factors, Mills 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 Mills County, Texas.
How Rich Is Mills County, Texas?
Mills 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 $66,287, about 13% lower than the Texas average of $76,510.
What is the current median household income in Mills County, Texas?
As of 2023, the median household income in Mills County, Texas is $66,287.
What was the median household income in Mills County in 2023?
In 2023, the median household income in Mills County, Texas was $66,287.
What was the median household income in Mills County in 2020?
In 2020, the median household income in Mills County, Texas was $50,340.
What is the Gini coefficient in Mills County, Texas?
The Gini coefficient in Mills County is 0.556. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Mills County, Texas?
Since 2009, the income gap between men and women in Mills County, Texas has widened from about 17% to 19% in 2023. In dollar terms, the gap has widened by $5,604 since 2009.