Wealth Index
Less wealthy than 92% 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 | Mitchell County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,374 | $76,510 | $78,145 |
| Median Personal Income | $53,659 | $58,415 | $61,726 |
| Average income growth | 1.3% | 4.8% | 5.1% |
| Six-Figure Earners | 8.8% | 12.4% | 13.2% |
The median household income in Mitchell County is about 25% lower than in Texas. Income has been growing slower in Mitchell County (1.3%/yr) than in Texas (4.8%/yr).
About 9% of adults in Mitchell 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 Mitchell County, Texas grew by 34.2% from 2009 to 2023, reaching $57,374 in 2023. That's an average of about 1.3% per year.
Economic Inequality in Mitchell County | Gender Pay Gap | Gini Coefficient
| Metric | Mitchell County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.671 | 0.587 | 0.570 |
| Male Median Income | $55,465 | $64,517 | $67,746 |
| Female Median Income | $51,650 | $51,419 | $54,793 |
| Gender Pay Gap | 6.9% | 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 Mitchell County, it is 0.671, 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 7% more than women's income in Mitchell County, Texas. Over a 35-year career, a 7% wage gap accumulates to roughly $133,525 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mitchell County, Texas has narrowed from about 38% to 7% in 2023. In dollar terms, the gap has narrowed by $11,855 since 2009.
Employment
| Metric | Mitchell County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.1% | 5.2% |
| Working from Home | 2.3% | 12.8% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 182 people are unemployed in Mitchell County, Texas.
The average commute time in Mitchell County is 16 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mitchell County, Texas has fallen from 5.7% to 4.7% in 2023.
Conclusion
Considering all these factors, Mitchell County, Texas has an overall wealth index grade of D, making it somewhat worse than Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mitchell County, Texas.
How Rich Is Mitchell County, Texas?
Mitchell 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 $57,374, about 25% lower than the Texas average of $76,510.
What is the current median household income in Mitchell County, Texas?
As of 2023, the median household income in Mitchell County, Texas is $57,374.
What was the median household income in Mitchell County in 2023?
In 2023, the median household income in Mitchell County, Texas was $57,374.
What was the median household income in Mitchell County in 2020?
In 2020, the median household income in Mitchell County, Texas was $44,963.
What is the Gini coefficient in Mitchell County, Texas?
The Gini coefficient in Mitchell County is 0.671. 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 Mitchell County, Texas?
Since 2009, the income gap between men and women in Mitchell County, Texas has narrowed from about 38% to 7% in 2023. In dollar terms, the gap has narrowed by $11,855 since 2009.