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 | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,976 | $76,510 | $78,145 |
| Median Personal Income | $54,230 | $58,415 | $61,726 |
| Average income growth | 10.8% | 4.8% | 5.1% |
| Six-Figure Earners | 6.4% | 12.4% | 13.2% |
The median household income in Terrell County is about 36% lower than in Texas. Income has been growing faster in Terrell County (10.8%/yr) than in Texas (4.8%/yr).
About 6% of adults in Terrell 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 Terrell County, Texas grew by 35.5% from 2009 to 2023, reaching $48,976 in 2023. That's an average of about 10.8% per year.
Economic Inequality in Terrell County | Gender Pay Gap | Gini Coefficient
| Metric | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.587 | 0.570 |
| Male Median Income | $64,116 | $64,517 | $67,746 |
| Female Median Income | $27,671 | $51,419 | $54,793 |
| Gender Pay Gap | 56.8% | 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 Terrell County, it is 0.515, 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 132% more than women's income in Terrell County, Texas. Over a 35-year career, a 132% wage gap accumulates to roughly $1,275,575 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Terrell County, Texas has widened from about -39% to 57% in 2023. In dollar terms, the gap has widened by $48,093 since 2009.
Employment
| Metric | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 5.1% | 5.2% |
| Working from Home | 7.6% | 12.8% | 13.4% |
| Commute time (minutes) | 5 | 22 | 22 |
The average commute time in Terrell County is 5 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
The unemployment rate in Terrell County, Texas has stayed about flat at 1.0% since 2011.
Conclusion
Considering all these factors, Terrell 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 Terrell County, Texas.
How Rich Is Terrell County, Texas?
Terrell 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 $48,976, about 36% lower than the Texas average of $76,510.
What is the current median household income in Terrell County, Texas?
As of 2023, the median household income in Terrell County, Texas is $48,976.
What was the median household income in Terrell County in 2023?
In 2023, the median household income in Terrell County, Texas was $48,976.
What was the median household income in Terrell County in 2020?
In 2020, the median household income in Terrell County, Texas was $40,646.
What is the Gini coefficient in Terrell County, Texas?
The Gini coefficient in Terrell County is 0.515. 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 Terrell County, Texas?
Since 2009, the income gap between men and women in Terrell County, Texas has widened from about -39% to 57% in 2023. In dollar terms, the gap has widened by $48,093 since 2009.