Wealth Index
Wealthier than 86% 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 | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,285 | $76,510 | $78,145 |
| Median Personal Income | $57,637 | $58,415 | $61,726 |
| Average income growth | 3.1% | 4.8% | 5.1% |
| Six-Figure Earners | 7.9% | 12.4% | 13.2% |
The median household income in Reagan County is about 7% lower than in Texas. Income has been growing slower in Reagan County (3.1%/yr) than in Texas (4.8%/yr).
About 8% of adults in Reagan 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 Reagan County, Texas grew by 31.4% from 2009 to 2023, reaching $71,285 in 2023. That's an average of about 3.1% per year.
Economic Inequality in Reagan County | Gender Pay Gap | Gini Coefficient
| Metric | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.587 | 0.570 |
| Male Median Income | $58,646 | $64,517 | $67,746 |
| Female Median Income | $56,752 | $51,419 | $54,793 |
| Gender Pay Gap | 3.2% | 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 Reagan County, it is 0.574, lower than Texas's 0.587, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 3% more than women's income in Reagan County, Texas. Over a 35-year career, a 3% wage gap accumulates to roughly $66,290 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Reagan County, Texas has narrowed from about 47% to 3% in 2023. In dollar terms, the gap has narrowed by $21,639 since 2009.
Employment
| Metric | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.3% | 5.1% | 5.2% |
| Working from Home | 5.7% | 12.8% | 13.4% |
| Commute time (minutes) | 8 | 22 | 22 |
Approximately 122 people are unemployed in Reagan County, Texas.
The average commute time in Reagan County is 8 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Reagan County, Texas has risen from 1.0% to 8.3% in 2023.
Conclusion
Considering all these factors, Reagan 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 Reagan County, Texas.
How Rich Is Reagan County, Texas?
Reagan 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 $71,285, about 7% lower than the Texas average of $76,510.
What is the current median household income in Reagan County, Texas?
As of 2023, the median household income in Reagan County, Texas is $71,285.
What was the median household income in Reagan County in 2023?
In 2023, the median household income in Reagan County, Texas was $71,285.
What was the median household income in Reagan County in 2020?
In 2020, the median household income in Reagan County, Texas was $64,211.
What is the Gini coefficient in Reagan County, Texas?
The Gini coefficient in Reagan County is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Reagan County, Texas?
Since 2009, the income gap between men and women in Reagan County, Texas has narrowed from about 47% to 3% in 2023. In dollar terms, the gap has narrowed by $21,639 since 2009.