Richardson, Texas Income Statistics
Richardson 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
Richardson Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Richardson | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $99,050 | $78,939 | $80,455 |
| Median Personal Income | $70,845 | $56,913 | $60,758 |
| Average Yearly Income Growth | 3.7% | 4.6% | 4.8% |
| Six-Figure Earners | 19.4% | 13.0% | 13.9% |
| $200k+ Households | 18.2% | 12.5% | 13.2% |
The median household income in Richardson is about 25% higher than in Texas. Income has been growing slower in Richardson (3.7%/yr) than in Texas (4.6%/yr).
About 19% of adults in Richardson 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 Richardson, Texas grew by 46.8% from 2009 to 2024, reaching $99,050 in 2024. That's an average of about 3.7% per year.
Income Inequality and the Gender Pay Gap in Richardson
| Metric | Richardson | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.550 | 0.570 | 0.552 |
| Male Median Income | $86,255 | $66,147 | $69,667 |
| Female Median Income | $67,621 | $53,058 | $56,850 |
| Gender Pay Gap | 21.6% | 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 Richardson, it is 0.550, lower than Texas's 0.570, so income is more evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 28% more than women's income in Richardson, Texas. Over a 35-year career, a 28% wage gap accumulates to roughly $652,190 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Richardson, Texas has widened from about 18% to 22% in 2024. Over that period the gap was narrowest at 15% in 2018. In dollar terms, the gap has widened by $9,011 since 2009.
Employment
| Metric | Richardson | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.2% | 5.2% |
| Working from Home | 24.6% | 14.4% | 15.0% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 3,340 people are unemployed in Richardson, Texas.
The average commute time in Richardson is 22 minutes, about the same as in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Richardson, Texas has fallen from 6.4% to 5.0% in 2024. Over that period the rate peaked at 8.1% in 2013 and fell as low as 3.7% in 2019.
Richardson, TX Wealth Compared With Nearby Cities
Richardson, TX is typical in size for this group, 115,321 residents against a local median of 129,550, so the measures below are close to a like for like comparison. Richardson, TX's unemployment, at 5.0%, runs 24% above the 4.1% typical of the cities around it. That is the weaker end of the local range on this measure.
The cities themselves spread 2.0% on unemployment, so Richardson, TX sits at one end of an already wide local range rather than apart from it. Richardson, TX has the 5th lowest unemployment of the 5 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. |
|---|---|---|---|---|---|
| Richardson, TX | 115,321 | $99,050 #3/5 | 3.7%/yr #3/5 | 5.0% #5/5 | 0.550 #4/5 |
| Plano, TX | 290,173 | $112,803 | 3.5%/yr | 4.0% | 0.537 |
| Garland, TX | 238,307 | $76,558 | 4.7%/yr | 4.9% | 0.543 |
| Murphy, TX | 20,156 | $175,298 | 5.7%/yr | 4.1% | 0.563 |
| Addison, TX | 20,794 | $72,551 | 2.4%/yr | 2.9% | 0.449 |
Conclusion
Considering all these factors, Richardson, 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 Richardson, Texas.
How Rich Is Richardson, Texas?
Richardson 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 $99,050, about 25% higher than the Texas average of $78,939.
Are incomes growing in Richardson, Texas?
Between 2009 and 2024, the median household income in Richardson, Texas rose 47%, from $67,490 to $99,050. Over the same years, income here lagged behind Texas as a whole: +47% against +64%.
What was the median household income in Richardson in 2023?
In 2023, the median household income in Richardson, Texas was $97,530, up 2% from $95,238 in 2022. The Texas median that year was $76,528.
What was the median household income in Richardson in 2020?
In 2020, the median household income in Richardson, Texas was $85,567. By 2024 it had risen 16% to $99,050.
Is Richardson, Texas a high-income area?
Yes. 19% of adults in Richardson, Texas earn $100,000 or more a year (about 1 in 5), against 13% (about 1 in 8) in Texas. 18% of households have a combined income of $200,000 or more, compared with 12% in Texas.
What is the Gini coefficient in Richardson, Texas?
The Gini coefficient in Richardson is 0.550. 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 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Richardson, Texas?
Since 2009, the income gap between men and women in Richardson, Texas has widened from about 18% to 22% in 2024. Over that period the gap was narrowest at 15% in 2018. In dollar terms, the gap has widened by $9,011 since 2009.
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