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 | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,484 | $76,510 | $78,145 |
| Median Personal Income | $48,552 | $58,415 | $61,726 |
| Average income growth | 6.3% | 4.8% | 5.1% |
| Six-Figure Earners | 7.7% | 12.4% | 13.2% |
The median household income in Throckmorton County is about 24% lower than in Texas. Income has been growing faster in Throckmorton County (6.3%/yr) than in Texas (4.8%/yr).
About 8% of adults in Throckmorton 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 Throckmorton County, Texas grew by 71.9% from 2009 to 2023, reaching $58,484 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Throckmorton County | Gender Pay Gap | Gini Coefficient
| Metric | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.587 | 0.570 |
| Male Median Income | $55,793 | $64,517 | $67,746 |
| Female Median Income | $41,249 | $51,419 | $54,793 |
| Gender Pay Gap | 26.1% | 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 Throckmorton County, it is 0.540, 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 35% more than women's income in Throckmorton County, Texas. Over a 35-year career, a 35% wage gap accumulates to roughly $509,040 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Throckmorton County, Texas has widened from about 20% to 26% in 2023. In dollar terms, the gap has widened by $7,270 since 2009.
Employment
| Metric | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 5.1% | 5.2% |
| Working from Home | 4.4% | 12.8% | 13.4% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 20 people are unemployed in Throckmorton County, Texas.
The average commute time in Throckmorton County is 12 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Throckmorton County, Texas has risen from 1.3% to 2.7% in 2023.
Conclusion
Considering all these factors, Throckmorton 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 Throckmorton County, Texas.
How Rich Is Throckmorton County, Texas?
Throckmorton 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 $58,484, about 24% lower than the Texas average of $76,510.
What is the current median household income in Throckmorton County, Texas?
As of 2023, the median household income in Throckmorton County, Texas is $58,484.
What was the median household income in Throckmorton County in 2023?
In 2023, the median household income in Throckmorton County, Texas was $58,484.
What was the median household income in Throckmorton County in 2020?
In 2020, the median household income in Throckmorton County, Texas was $41,323.
What is the Gini coefficient in Throckmorton County, Texas?
The Gini coefficient in Throckmorton County is 0.540. 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 Throckmorton County, Texas?
Since 2009, the income gap between men and women in Throckmorton County, Texas has widened from about 20% to 26% in 2023. In dollar terms, the gap has widened by $7,270 since 2009.