Wealth Index
Wealthier than 95% 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 | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $102,553 | $76,510 | $78,145 |
| Median Personal Income | $69,782 | $58,415 | $61,726 |
| Average income growth | 5.9% | 4.8% | 5.1% |
| Six-Figure Earners | 16.7% | 12.4% | 13.2% |
The median household income in Parker County is about 34% higher than in Texas. Income has been growing faster in Parker County (5.9%/yr) than in Texas (4.8%/yr).
About 17% of adults in Parker County earn six figures ($100,000 or more) a year, higher than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Parker County, Texas grew by 66.4% from 2009 to 2023, reaching $102,553 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Parker County | Gender Pay Gap | Gini Coefficient
| Metric | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.587 | 0.570 |
| Male Median Income | $82,208 | $64,517 | $67,746 |
| Female Median Income | $57,180 | $51,419 | $54,793 |
| Gender Pay Gap | 30.4% | 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 County, it is 0.578, 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 44% more than women's income in Parker County, Texas. Over a 35-year career, a 44% wage gap accumulates to roughly $875,980 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Parker County, Texas has narrowed from about 32% to 30% in 2023. In dollar terms, the gap has widened by $8,354 since 2009.
Employment
| Metric | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.1% | 5.2% |
| Working from Home | 12.1% | 12.8% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 3,118 people are unemployed in Parker County, Texas.
The average commute time in Parker County is 30 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Parker County, Texas has fallen from 6.0% to 3.9% in 2023.
Conclusion
Considering all these factors, Parker County, Texas has an overall wealth index grade of B, making it somewhat better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Parker County, Texas.
How Rich Is Parker County, Texas?
Parker County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $102,553, about 34% higher than the Texas average of $76,510.
What is the current median household income in Parker County, Texas?
As of 2023, the median household income in Parker County, Texas is $102,553.
What was the median household income in Parker County in 2023?
In 2023, the median household income in Parker County, Texas was $102,553.
What was the median household income in Parker County in 2020?
In 2020, the median household income in Parker County, Texas was $84,529.
What is the Gini coefficient in Parker County, Texas?
The Gini coefficient in Parker County is 0.578. 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 County, Texas?
Since 2009, the income gap between men and women in Parker County, Texas has narrowed from about 32% to 30% in 2023. In dollar terms, the gap has widened by $8,354 since 2009.