Wealth Index
Less wealthy than 81% of counties in Texas
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 | Terry County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,312 | $76,510 | $78,145 |
| Median Personal Income | $44,620 | $58,415 | $61,726 |
| Average income growth | 2.2% | 4.8% | 5.1% |
| Six-Figure Earners | 4.6% | 12.4% | 13.2% |
The median household income in Terry County is about 39% lower than in Texas. Income has been growing slower in Terry County (2.2%/yr) than in Texas (4.8%/yr).
About 5% of adults in Terry 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 Terry County, Texas grew by 34.3% from 2009 to 2023, reaching $46,312 in 2023. That's an average of about 2.2% per year.
Economic Inequality in Terry County | Gender Pay Gap | Gini Coefficient
| Metric | Terry County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.595 | 0.587 | 0.570 |
| Male Median Income | $51,314 | $64,517 | $67,746 |
| Female Median Income | $39,952 | $51,419 | $54,793 |
| Gender Pay Gap | 22.1% | 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 Terry County, it is 0.595, higher than Texas's 0.587, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 28% more than women's income in Terry County, Texas. Over a 35-year career, a 28% wage gap accumulates to roughly $397,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Terry County, Texas has narrowed from about 26% to 22% in 2023. In dollar terms, the gap has widened by $2,272 since 2009.
Employment
| Metric | Terry County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 5.1% | 5.2% |
| Working from Home | 5.4% | 12.8% | 13.4% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 192 people are unemployed in Terry County, Texas.
The average commute time in Terry County is 12 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Terry County, Texas has fallen from 7.0% to 3.8% in 2023.
Conclusion
Considering all these factors, Terry County, 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 Terry County, Texas.
How Rich Is Terry County, Texas?
Terry County 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 $46,312, about 39% lower than the Texas average of $76,510.
What is the current median household income in Terry County, Texas?
As of 2023, the median household income in Terry County, Texas is $46,312.
What was the median household income in Terry County in 2023?
In 2023, the median household income in Terry County, Texas was $46,312.
What was the median household income in Terry County in 2020?
In 2020, the median household income in Terry County, Texas was $43,558.
What is the Gini coefficient in Terry County, Texas?
The Gini coefficient in Terry County is 0.595. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Terry County, Texas?
Since 2009, the income gap between men and women in Terry County, Texas has narrowed from about 26% to 22% in 2023. In dollar terms, the gap has widened by $2,272 since 2009.