Wealth Index
Less wealthy than 78% 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 | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,634 | $76,510 | $78,145 |
| Median Personal Income | $45,352 | $58,415 | $61,726 |
| Average income growth | 3.3% | 4.8% | 5.1% |
| Six-Figure Earners | 6.5% | 12.4% | 13.2% |
The median household income in Potter County is about 34% lower than in Texas. Income has been growing slower in Potter County (3.3%/yr) than in Texas (4.8%/yr).
About 7% of adults in Potter 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 Potter County, Texas grew by 45.3% from 2009 to 2023, reaching $50,634 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Potter County | Gender Pay Gap | Gini Coefficient
| Metric | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.587 | 0.570 |
| Male Median Income | $50,534 | $64,517 | $67,746 |
| Female Median Income | $40,815 | $51,419 | $54,793 |
| Gender Pay Gap | 19.2% | 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 Potter County, it is 0.588, about the same as Texas's 0.587, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 24% more than women's income in Potter County, Texas. Over a 35-year career, a 24% wage gap accumulates to roughly $340,165 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Potter County, Texas has widened from about 18% to 19% in 2023. In dollar terms, the gap has widened by $3,809 since 2009.
Employment
| Metric | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 5.1% | 5.2% |
| Working from Home | 5.3% | 12.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 2,037 people are unemployed in Potter County, Texas.
The average commute time in Potter County is 17 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Potter County, Texas has fallen from 6.3% to 4.0% in 2023.
Conclusion
Considering all these factors, Potter 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 Potter County, Texas.
How Rich Is Potter County, Texas?
Potter 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 $50,634, about 34% lower than the Texas average of $76,510.
What is the current median household income in Potter County, Texas?
As of 2023, the median household income in Potter County, Texas is $50,634.
What was the median household income in Potter County in 2023?
In 2023, the median household income in Potter County, Texas was $50,634.
What was the median household income in Potter County in 2020?
In 2020, the median household income in Potter County, Texas was $43,674.
What is the Gini coefficient in Potter County, Texas?
The Gini coefficient in Potter County is 0.588. 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 Potter County, Texas?
Since 2009, the income gap between men and women in Potter County, Texas has widened from about 18% to 19% in 2023. In dollar terms, the gap has widened by $3,809 since 2009.