Wealth Index
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 | Shackelford County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,944 | $76,510 | $78,145 |
| Median Personal Income | $54,668 | $58,415 | $61,726 |
| Average income growth | 4.0% | 4.8% | 5.1% |
| Six-Figure Earners | 8.0% | 12.4% | 13.2% |
The median household income in Shackelford County is about 15% lower than in Texas. Income has been growing slower in Shackelford County (4.0%/yr) than in Texas (4.8%/yr).
About 8% of adults in Shackelford 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 Shackelford County, Texas grew by 46.3% from 2009 to 2023, reaching $64,944 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Shackelford County | Gender Pay Gap | Gini Coefficient
| Metric | Shackelford County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.587 | 0.570 |
| Male Median Income | $67,889 | $64,517 | $67,746 |
| Female Median Income | $45,124 | $51,419 | $54,793 |
| Gender Pay Gap | 33.5% | 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 Shackelford 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 50% more than women's income in Shackelford County, Texas. Over a 35-year career, a 50% wage gap accumulates to roughly $796,775 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Shackelford County, Texas has widened from about 16% to 34% in 2023. In dollar terms, the gap has widened by $17,001 since 2009.
Employment
| Metric | Shackelford County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 5.1% | 5.2% |
| Working from Home | 10.6% | 12.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 102 people are unemployed in Shackelford County, Texas.
The average commute time in Shackelford County is 17 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Shackelford County, Texas has risen from 4.4% to 6.1% in 2023.
Conclusion
Considering all these factors, Shackelford County, Texas has an overall wealth index grade of C, making it about on par with Texas, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Shackelford County, Texas.
How Rich Is Shackelford County, Texas?
Shackelford County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $64,944, about 15% lower than the Texas average of $76,510.
What is the current median household income in Shackelford County, Texas?
As of 2023, the median household income in Shackelford County, Texas is $64,944.
What was the median household income in Shackelford County in 2023?
In 2023, the median household income in Shackelford County, Texas was $64,944.
What was the median household income in Shackelford County in 2020?
In 2020, the median household income in Shackelford County, Texas was $47,764.
What is the Gini coefficient in Shackelford County, Texas?
The Gini coefficient in Shackelford 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 Shackelford County, Texas?
Since 2009, the income gap between men and women in Shackelford County, Texas has widened from about 16% to 34% in 2023. In dollar terms, the gap has widened by $17,001 since 2009.