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 | Parker | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $170,315 | $76,510 | $78,145 |
| Median Personal Income | $170,315 | $76,510 | $78,145 |
| Average income growth | 5.4% | 5.4% | 5.4% |
The median household income in Parker is about 123% higher than in Texas. Income has been growing faster in Parker (5.4%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Parker, Texas grew by 61.5% from 2009 to 2023, reaching $170,315 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Parker | Gender Pay Gap | Gini Coefficient
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.579 | 0.587 | 0.570 |
| Male Median Income | $116,429 | $64,517 | $67,746 |
| Female Median Income | $71,407 | $51,419 | $54,793 |
| Gender Pay Gap | 38.7% | 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 Parker, it is 0.579, lower than Texas's 0.587, so income is more 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 63% more than women's income in Parker, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in Parker, Texas has widened from about 37% to 39% in 2023.
Employment
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 5.1% | 5.2% |
| Working from Home | 26.5% | 12.8% | 13.4% |
| Commute time (minutes) | 28 | 22 | 22 |
The average commute time in Parker is 28 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Parker, Texas has fallen from 4.5% to 3.1% in 2023.
Conclusion
Considering all these factors, Parker, Texas has an overall wealth index grade of A, making it far better than Texas, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Parker, Texas.
How Rich Is Parker, Texas?
Parker 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 $170,315, about 123% higher than the Texas average of $76,510.
What is the current median household income in Parker, Texas?
As of 2023, the median household income in Parker, Texas is $170,315.
What was the median household income in Parker in 2023?
In 2023, the median household income in Parker, Texas was $170,315.
What was the median household income in Parker in 2020?
In 2020, the median household income in Parker, Texas was $139,035.
What is the Gini coefficient in Parker, Texas?
The Gini coefficient in Parker is 0.579. 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 Parker, Texas?
Since 2009, the income gap between men and women in Parker, Texas has widened from about 37% to 39% in 2023.