Wealth Index
Wealthier than 94% 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 | Randall County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,024 | $76,510 | $78,145 |
| Median Personal Income | $59,836 | $58,415 | $61,726 |
| Average income growth | 3.4% | 4.8% | 5.1% |
| Six-Figure Earners | 12.3% | 12.4% | 13.2% |
The median household income in Randall County is about 5% higher than in Texas. Income has been growing slower in Randall County (3.4%/yr) than in Texas (4.8%/yr).
About 12% of adults in Randall County earn six figures ($100,000 or more) a year, about the same as the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Randall County, Texas grew by 46.5% from 2009 to 2023, reaching $80,024 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Randall County | Gender Pay Gap | Gini Coefficient
| Metric | Randall County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.587 | 0.570 |
| Male Median Income | $68,933 | $64,517 | $67,746 |
| Female Median Income | $51,198 | $51,419 | $54,793 |
| Gender Pay Gap | 25.7% | 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 Randall County, it is 0.533, lower than Texas's 0.587, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 35% more than women's income in Randall County, Texas. Over a 35-year career, a 35% wage gap accumulates to roughly $620,725 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Randall County, Texas has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $6,556 since 2009.
Employment
| Metric | Randall County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 5.1% | 5.2% |
| Working from Home | 6.8% | 12.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 2,200 people are unemployed in Randall County, Texas.
The average commute time in Randall County is 17 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Randall County, Texas has fallen from 4.4% to 2.9% in 2023.
Conclusion
Considering all these factors, Randall 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 Randall County, Texas.
How Rich Is Randall County, Texas?
Randall 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 $80,024, about 5% higher than the Texas average of $76,510.
What is the current median household income in Randall County, Texas?
As of 2023, the median household income in Randall County, Texas is $80,024.
What was the median household income in Randall County in 2023?
In 2023, the median household income in Randall County, Texas was $80,024.
What was the median household income in Randall County in 2020?
In 2020, the median household income in Randall County, Texas was $68,878.
What is the Gini coefficient in Randall County, Texas?
The Gini coefficient in Randall County is 0.533. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Randall County, Texas?
Since 2009, the income gap between men and women in Randall County, Texas has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $6,556 since 2009.