Sherman, Texas Income Statistics
Sherman 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.
-
D
Sherman Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,417 | $78,939 | $80,455 |
| Median Personal Income | $43,866 | $56,913 | $60,758 |
| Average Yearly Income Growth | 3.7% | 4.6% | 4.8% |
| Six-Figure Earners | 6.6% | 13.0% | 13.9% |
| $200k+ Households | 4.5% | 12.5% | 13.2% |
The median household income in Sherman is about 29% lower than in Texas. Income has been growing slower in Sherman (3.7%/yr) than in Texas (4.6%/yr).
About 7% of adults in Sherman earn six figures ($100,000 or more) a year, lower than the Texas average of 13%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Sherman, Texas grew by 41.5% from 2009 to 2024, reaching $56,417 in 2024. That's an average of about 3.7% per year.
Income Inequality and the Gender Pay Gap in Sherman
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.517 | 0.570 | 0.552 |
| Male Median Income | $51,775 | $66,147 | $69,667 |
| Female Median Income | $42,883 | $53,058 | $56,850 |
| Gender Pay Gap | 17.2% | 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 Sherman, it is 0.517, lower than Texas's 0.570, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 21% more than women's income in Sherman, Texas. Over a 35-year career, a 21% wage gap accumulates to roughly $311,220 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sherman, Texas has narrowed from about 25% to 17% in 2024. Over that period the gap was narrowest at 7% in 2020. In dollar terms, the gap has narrowed by $594 since 2009.
Employment
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 5.2% | 5.2% |
| Working from Home | 10.4% | 14.4% | 15.0% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 569 people are unemployed in Sherman, Texas.
The average commute time in Sherman is 16 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sherman, Texas has fallen from 9.4% to 3.2% in 2024. Over that period the rate peaked at 11.9% in 2013.
Conclusion
Considering all these factors, Sherman, 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 Sherman, Texas.
How Rich Is Sherman, Texas?
Sherman 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 $56,417, about 29% lower than the Texas average of $78,939.
How has median household income changed in Sherman, Texas?
Between 2009 and 2024, the median household income in Sherman, Texas rose 41%, from $39,871 to $56,417. Over the same years, income here lagged behind Texas as a whole: +41% against +64%.
What was the median household income in Sherman in 2023?
In 2023, the median household income in Sherman, Texas was $58,660, up 8% from $54,088 in 2022. The Texas median that year was $76,528.
What was the median household income in Sherman in 2020?
In 2020, the median household income in Sherman, Texas was $46,490. By 2024 it had risen 21% to $56,417.
Is unemployment high in Sherman, Texas?
Unemployment in Sherman, Texas is only 3.2%, well below the Texas rate of 5.2%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Sherman, Texas?
The Gini coefficient in Sherman is 0.517. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Sherman, Texas?
Since 2009, the income gap between men and women in Sherman, Texas has narrowed from about 25% to 17% in 2024. Over that period the gap was narrowest at 7% in 2020. In dollar terms, the gap has narrowed by $594 since 2009.
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