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 | Ward County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,159 | $76,510 | $78,145 |
| Median Personal Income | $59,782 | $58,415 | $61,726 |
| Average income growth | 3.0% | 4.8% | 5.1% |
| Six-Figure Earners | 10.6% | 12.4% | 13.2% |
The median household income in Ward County is about 8% lower than in Texas. Income has been growing slower in Ward County (3.0%/yr) than in Texas (4.8%/yr).
About 11% of adults in Ward 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 Ward County, Texas grew by 72.3% from 2009 to 2023, reaching $70,159 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Ward County | Gender Pay Gap | Gini Coefficient
| Metric | Ward County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.587 | 0.570 |
| Male Median Income | $75,089 | $64,517 | $67,746 |
| Female Median Income | $42,814 | $51,419 | $54,793 |
| Gender Pay Gap | 43.0% | 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 Ward County, it is 0.575, lower than Texas's 0.587, so income is more 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 75% more than women's income in Ward County, Texas. Over a 35-year career, a 75% wage gap accumulates to roughly $1,129,625 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ward County, Texas has widened from about 38% to 43% in 2023. In dollar terms, the gap has widened by $16,187 since 2009.
Employment
| Metric | Ward County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 5.1% | 5.2% |
| Working from Home | 1.2% | 12.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 218 people are unemployed in Ward County, Texas.
The average commute time in Ward County is 13 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ward County, Texas has fallen from 5.5% to 4.1% in 2023.
Conclusion
Considering all these factors, Ward 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 Ward County, Texas.
How Rich Is Ward County, Texas?
Ward 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 $70,159, about 8% lower than the Texas average of $76,510.
What is the current median household income in Ward County, Texas?
As of 2023, the median household income in Ward County, Texas is $70,159.
What was the median household income in Ward County in 2023?
In 2023, the median household income in Ward County, Texas was $70,159.
What was the median household income in Ward County in 2020?
In 2020, the median household income in Ward County, Texas was $63,851.
What is the Gini coefficient in Ward County, Texas?
The Gini coefficient in Ward County is 0.575. 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 Ward County, Texas?
Since 2009, the income gap between men and women in Ward County, Texas has widened from about 38% to 43% in 2023. In dollar terms, the gap has widened by $16,187 since 2009.