Wichita Falls, Texas Income Statistics
Wichita Falls Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Wichita Falls Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Wichita Falls | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,797 | $78,939 | $80,455 |
| Median Personal Income | $45,125 | $56,913 | $60,758 |
| Average Yearly Income Growth | 4.5% | 4.6% | 4.8% |
| Six-Figure Earners | 7.5% | 13.0% | 13.9% |
| $200k+ Households | 5.5% | 12.5% | 13.2% |
The median household income in Wichita Falls is about 24% lower than in Texas. Income has been growing slower in Wichita Falls (4.5%/yr) than in Texas (4.6%/yr).
About 7% of adults in Wichita Falls earn six figures ($100,000 or more) a year, lower than the Texas average of 13%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Wichita Falls, Texas grew by 52.1% from 2009 to 2024, reaching $59,797 in 2024. That's an average of about 4.5% per year.
Income Inequality and the Gender Pay Gap in Wichita Falls
| Metric | Wichita Falls | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.549 | 0.570 | 0.552 |
| Male Median Income | $51,641 | $66,147 | $69,667 |
| Female Median Income | $43,600 | $53,058 | $56,850 |
| Gender Pay Gap | 15.6% | 19.8% | 18.4% |
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 Wichita Falls, it is 0.549, lower than Texas's 0.570, so income is more evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 18% more than women's income in Wichita Falls, Texas. Over a 35-year career, a 18% wage gap accumulates to roughly $281,435 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wichita Falls, Texas has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 21% in 2017, and was narrowest at 14% in 2023. In dollar terms, the gap has widened by $109 since 2009.
Employment
| Metric | Wichita Falls | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 5.2% | 5.2% |
| Working from Home | 6.9% | 14.4% | 15.0% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 1,428 people are unemployed in Wichita Falls, Texas.
The average commute time in Wichita Falls is 12 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wichita Falls, Texas has fallen from 5.3% to 3.3% in 2024. Over that period the rate peaked at 6.9% in 2013 and fell as low as 3.0% in 2023.
Conclusion
Considering all these factors, Wichita Falls, 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 Wichita Falls, Texas.
How Rich Is Wichita Falls, Texas?
Wichita Falls 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 $59,797, about 24% lower than the Texas average of $78,939.
How fast is household income rising in Wichita Falls, Texas?
Between 2009 and 2024, the median household income in Wichita Falls, Texas rose 52%, from $39,314 to $59,797. Over the same years, income here lagged behind Texas as a whole: +52% against +64%.
What was the median household income in Wichita Falls in 2023?
In 2023, the median household income in Wichita Falls, Texas was $58,011, up 6% from $54,480 in 2022. The Texas median that year was $76,528.
What was the median household income in Wichita Falls in 2020?
In 2020, the median household income in Wichita Falls, Texas was $46,803. By 2024 it had risen 28% to $59,797.
How strong is the job market in Wichita Falls, Texas?
Unemployment in Wichita Falls, Texas is only 3.3%, well below the Texas rate of 5.2%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Wichita Falls, Texas?
The Gini coefficient in Wichita Falls is 0.549. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Wichita Falls, Texas?
Since 2009, the income gap between men and women in Wichita Falls, Texas has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 21% in 2017, and was narrowest at 14% in 2023. In dollar terms, the gap has widened by $109 since 2009.
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