Southlake, Texas Income Statistics
Southlake 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.
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A+
Southlake Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $209,565 | $78,939 | $80,455 |
| Median Personal Income | $129,593 | $56,913 | $60,758 |
| Average Yearly Income Growth | 2.8% | 4.6% | 4.8% |
| Six-Figure Earners | 38.0% | 13.0% | 13.9% |
| $200k+ Households | 61.8% | 12.5% | 13.2% |
The median household income in Southlake is about 165% higher than in Texas. Income has been growing slower in Southlake (2.8%/yr) than in Texas (4.6%/yr).
About 38% of adults in Southlake 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 Southlake, Texas grew by 27.5% from 2009 to 2024, reaching $209,565 in 2024. That's an average of about 2.8% per year.
Income Inequality and the Gender Pay Gap in Southlake
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.550 | 0.570 | 0.552 |
| Male Median Income | $139,950 | $66,147 | $69,667 |
| Female Median Income | $105,142 | $53,058 | $56,850 |
| Gender Pay Gap | 24.9% | 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 Southlake, 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 33% more than women's income in Southlake, Texas. Over a 35-year career, a 33% wage gap accumulates to roughly $1,218,280 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Southlake, Texas has narrowed from about 53% to 25% in 2024. In dollar terms, the gap has narrowed by $31,376 since 2009.
Employment
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 5.2% | 5.2% |
| Working from Home | 29.8% | 14.4% | 15.0% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 389 people are unemployed in Southlake, Texas.
The average commute time in Southlake is 23 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Southlake, Texas has fallen from 5.5% to 2.5% in 2024. Over that period the rate peaked at 5.6% in 2013 and fell as low as 2.0% in 2021.
Southlake, TX Wealth Compared With Nearby Cities
Southlake, TX is the 3rd largest of the 4 cities compared here, 33,103 residents against a local median of 41,093. Southlake, TX's income growth, at 2.8%/yr, runs 28% below the 3.9%/yr typical of the cities around it. That is the weaker end of the local range on this measure.
Median household income tells the same story from another angle: $209,565 against a local median of $164,747, 27% above it. The picture is mixed rather than uniform: median household income runs ahead of the neighbourhood while income growth runs behind it, so Southlake, TX is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread 1.2%/yr on income growth, so Southlake, TX sits at one end of an already wide local range rather than apart from it. Southlake, TX has the 4th highest income growth of the 4 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. |
|---|---|---|---|---|---|
| Southlake, TX | 33,103 | $209,565 #1/4 | 2.8%/yr #4/4 | 2.5% #1/4 | 0.550 #4/4 |
| Colleyville, TX | 28,670 | $196,093 | 3.5%/yr | 2.7% | 0.509 |
| Keller, TX | 41,093 | $164,747 | 4.7%/yr | 2.5% | 0.539 |
| Grapevine, TX | 49,363 | $115,051 | 3.9%/yr | 4.8% | 0.510 |
Conclusion
Considering all these factors, Southlake, Texas has an overall wealth index grade of A+, making it far better than Texas, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Southlake, Texas.
How Rich Is Southlake, Texas?
Southlake has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $209,565, about 165% higher than the Texas average of $78,939.
How has median household income changed in Southlake, Texas?
Between 2009 and 2024, the median household income in Southlake, Texas rose 28%, from $164,326 to $209,565. Over the same years, income here lagged behind Texas as a whole: +28% against +64%.
What was the median household income in Southlake in 2023?
In 2023, the median household income in Southlake, Texas was $209,120, about the same as in 2022. The Texas median that year was $76,528.
What was the median household income in Southlake in 2020?
In 2020, the median household income in Southlake, Texas was $201,607. By 2024 it had risen 4% to $209,565.
Is Southlake, Texas a high-income area?
Yes. 38% of adults in Southlake, Texas earn $100,000 or more a year (about 1 in 3), against 13% (about 1 in 8) in Texas. 62% of households have a combined income of $200,000 or more, compared with 12% in Texas.
Is it hard to find a job in Southlake, Texas?
Unemployment in Southlake, Texas is only 2.5%, 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 Southlake, Texas?
The Gini coefficient in Southlake 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 Southlake, Texas?
Since 2009, the income gap between men and women in Southlake, Texas has narrowed from about 53% to 25% in 2024. In dollar terms, the gap has narrowed by $31,376 since 2009.
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