Wealth Index
Less wealthy than 76% 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 | Val Verde County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,491 | $76,510 | $78,145 |
| Median Personal Income | $50,091 | $58,415 | $61,726 |
| Average income growth | 4.4% | 4.8% | 5.1% |
| Six-Figure Earners | 6.5% | 12.4% | 13.2% |
The median household income in Val Verde County is about 22% lower than in Texas. Income has been growing slower in Val Verde County (4.4%/yr) than in Texas (4.8%/yr).
About 6% of adults in Val Verde 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 Val Verde County, Texas grew by 74.4% from 2009 to 2023, reaching $59,491 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Val Verde County | Gender Pay Gap | Gini Coefficient
| Metric | Val Verde County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.609 | 0.587 | 0.570 |
| Male Median Income | $58,478 | $64,517 | $67,746 |
| Female Median Income | $38,568 | $51,419 | $54,793 |
| Gender Pay Gap | 34.0% | 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 Val Verde County, it is 0.609, 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 52% more than women's income in Val Verde County, Texas. Over a 35-year career, a 52% wage gap accumulates to roughly $696,850 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Val Verde County, Texas has widened from about 33% to 34% in 2023. In dollar terms, the gap has widened by $8,513 since 2009.
Employment
| Metric | Val Verde County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 5.1% | 5.2% |
| Working from Home | 3.6% | 12.8% | 13.4% |
| Commute time (minutes) | 15 | 22 | 22 |
Approximately 981 people are unemployed in Val Verde County, Texas.
The average commute time in Val Verde County is 15 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Val Verde County, Texas has fallen from 8.3% to 4.5% in 2023.
Conclusion
Considering all these factors, Val Verde 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 Val Verde County, Texas.
How Rich Is Val Verde County, Texas?
Val Verde 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 $59,491, about 22% lower than the Texas average of $76,510.
What is the current median household income in Val Verde County, Texas?
As of 2023, the median household income in Val Verde County, Texas is $59,491.
What was the median household income in Val Verde County in 2023?
In 2023, the median household income in Val Verde County, Texas was $59,491.
What was the median household income in Val Verde County in 2020?
In 2020, the median household income in Val Verde County, Texas was $47,633.
What is the Gini coefficient in Val Verde County, Texas?
The Gini coefficient in Val Verde County is 0.609. 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 Val Verde County, Texas?
Since 2009, the income gap between men and women in Val Verde County, Texas has widened from about 33% to 34% in 2023. In dollar terms, the gap has widened by $8,513 since 2009.