Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Texas
- Rockwall County (124% of U.S. avg)
- Collin County (122% of U.S. avg)
- Denton County (118% of U.S. avg)
- Kenedy County (59% of U.S. avg)
- Hudspeth County (62% of U.S. avg)
- Jones County (64% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Texas | US Average |
|---|---|---|
| Median Household Income | $76,510 | $78,145 |
| Median Personal Income | $58,415 | $61,726 |
| Average income growth | 4.8% | 5.1% |
| Six-Figure Earners | 12.4% | 13.2% |
The median household income in Texas is about 2% lower than in US. Income has been growing slower in Texas (4.8%/yr) than in US (5.1%/yr).
About 12% of adults in Texas earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Texas grew by 58.7% from 2009 to 2023, reaching $76,510 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Texas | Gender Pay Gap | Gini Coefficient
| Metric | Texas | US Average |
|---|---|---|
| Gini Coefficient | 0.587 | 0.570 |
| Male Median Income | $64,517 | $67,746 |
| Female Median Income | $51,419 | $54,793 |
| Gender Pay Gap | 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 Texas, it is 0.587, higher than US's 0.570, so income is less evenly distributed here than there.
Men's income is about 25% more than women's income in Texas. Over a 35-year career, a 25% wage gap accumulates to roughly $458,430 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Texas has stayed about the same since 2009, at around 20%. In dollar terms, the gap has widened by $4,664 since 2009.
Employment
| Metric | Texas | US Average |
|---|---|---|
| Unemployment Rate | 5.1% | 5.2% |
| Working from Home | 12.8% | 13.4% |
| Commute time (minutes) | 22 | 22 |
Approximately 765,557 people are unemployed in Texas.
The average commute time in Texas is 22 minutes, about the same as in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Texas has fallen from 7.2% to 5.1% in 2023.
Conclusion
Considering all these factors, Texas has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Texas.
How Rich Is Texas?
Texas 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 $76,510, about 2% lower than the US average of $78,145.
What is the current median household income in Texas?
As of 2023, the median household income in Texas is $76,510.
What was the median household income in Texas in 2023?
In 2023, the median household income in Texas was $76,510.
What was the median household income in Texas in 2020?
In 2020, the median household income in Texas was $64,259.
What is the Gini coefficient in Texas?
The Gini coefficient in Texas is 0.587. 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 Texas?
The income gap between men and women in Texas has stayed about the same since 2009, at around 20%. In dollar terms, the gap has widened by $4,664 since 2009.