Plano, Texas Income Statistics
Plano 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.
-
B
Plano Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Plano | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $112,803 | $78,939 | $80,455 |
| Median Personal Income | $81,311 | $56,913 | $60,758 |
| Average Yearly Income Growth | 3.5% | 4.6% | 4.8% |
| Six-Figure Earners | 24.1% | 13.0% | 13.9% |
| $200k+ Households | 23.4% | 12.5% | 13.2% |
The median household income in Plano is about 43% higher than in Texas. Income has been growing slower in Plano (3.5%/yr) than in Texas (4.6%/yr).
About 24% of adults in Plano 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 Plano, Texas grew by 35.4% from 2009 to 2024, reaching $112,803 in 2024. That's an average of about 3.5% per year.
Income Inequality and the Gender Pay Gap in Plano
| Metric | Plano | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.570 | 0.552 |
| Male Median Income | $96,500 | $66,147 | $69,667 |
| Female Median Income | $71,046 | $53,058 | $56,850 |
| Gender Pay Gap | 26.4% | 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 Plano, it is 0.537, 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 36% more than women's income in Plano, Texas. Over a 35-year career, a 36% wage gap accumulates to roughly $890,890 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Plano, Texas has narrowed from about 34% to 26% in 2024. In dollar terms, the gap has widened by $1,169 since 2009.
Employment
| Metric | Plano | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 5.2% | 5.2% |
| Working from Home | 27.6% | 14.4% | 15.0% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 6,579 people are unemployed in Plano, Texas.
The average commute time in Plano is 22 minutes, about the same as in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Plano, Texas has fallen from 5.6% to 4.0% in 2024. Over that period the rate peaked at 6.0% in 2013 and fell as low as 3.7% in 2019.
Plano, TX Wealth Compared With Nearby Cities
Plano, TX is the largest of the 4 cities compared here, 290,173 residents against a local median of 102,687. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Plano, TX an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median household income, 14% above the local median at $112,803 against $99,050. Plano, TX has the 2nd highest median household income of the 4 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Plano, TX | 290,173 | $112,803 #2/4 | 3.5%/yr #2/4 | 4.0% #3/4 | 0.537 #2/4 |
| Richardson, TX | 115,321 | $99,050 | 3.7%/yr | 5.0% | 0.550 |
| Allen, TX | 102,687 | $129,041 | 3.2%/yr | 3.9% | 0.557 |
| Addison, TX | 20,794 | $72,551 | 2.4%/yr | 2.9% | 0.449 |
Conclusion
Considering all these factors, Plano, Texas has an overall wealth index grade of B, making it notably better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Plano, Texas.
How Rich Is Plano, Texas?
Plano 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 $112,803, about 43% higher than the Texas average of $78,939.
How fast is household income rising in Plano, Texas?
Between 2009 and 2024, the median household income in Plano, Texas rose 35%, from $83,334 to $112,803. Over the same years, income here lagged behind Texas as a whole: +35% against +64%.
What was the median household income in Plano in 2023?
In 2023, the median household income in Plano, Texas was $109,429, up 3% from $105,791 in 2022. The Texas median that year was $76,528.
What was the median household income in Plano in 2020?
In 2020, the median household income in Plano, Texas was $96,303. By 2024 it had risen 17% to $112,803.
How many people earn six figures in Plano, Texas?
Yes. 24% of adults in Plano, Texas earn $100,000 or more a year (about 1 in 4), against 13% (about 1 in 8) in Texas. 23% of households have a combined income of $200,000 or more, compared with 12% in Texas.
Is unemployment high in Plano, Texas?
Unemployment in Plano, Texas is only 4.0%, 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 Plano, Texas?
The Gini coefficient in Plano is 0.537. 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 Plano, Texas?
Since 2009, the income gap between men and women in Plano, Texas has narrowed from about 34% to 26% in 2024. In dollar terms, the gap has widened by $1,169 since 2009.
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