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 | University Park | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $200,000 | $76,510 | $78,145 |
| Median Personal Income | $200,000 | $76,510 | $78,145 |
| Average income growth | 0.0% | 0.0% | 0.0% |
The median household income in University Park is about 161% higher than in Texas. Income has been growing slower in University Park (0.0%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in University Park, Texas grew by 39.0% from 2009 to 2023, reaching $200,000 in 2023. That's an average of about 2.8% per year.
Economic Inequality in University Park | Gender Pay Gap | Gini Coefficient
| Metric | University Park | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.614 | 0.587 | 0.570 |
| Male Median Income | $137,697 | $64,517 | $67,746 |
| Female Median Income | $115,722 | $51,419 | $54,793 |
| Gender Pay Gap | 16.0% | 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 University Park, it is 0.614, 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 19% more than women's income in University Park, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in University Park, Texas has narrowed from about 44% to 16% in 2023.
Employment
| Metric | University Park | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.1% | 5.2% |
| Working from Home | 21.5% | 12.8% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
The average commute time in University Park is 16 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in University Park, Texas has fallen from 6.4% to 3.9% in 2023.
Conclusion
Considering all these factors, University Park, 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 University Park, Texas.
How Wealthy Is University Park, Texas?
University Park 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 $200,000, about 161% higher than the Texas average of $76,510.
What is the current median household income in University Park, Texas?
As of 2023, the median household income in University Park, Texas is $200,000.
What was the median household income in University Park in 2023?
In 2023, the median household income in University Park, Texas was $200,000.
What was the median household income in University Park in 2020?
In 2020, the median household income in University Park, Texas was $200,000.
What is the Gini coefficient in University Park, Texas?
The Gini coefficient in University Park is 0.614. 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 University Park, Texas?
Since 2009, the income gap between men and women in University Park, Texas has narrowed from about 44% to 16% in 2023.