Wealth Index
Wealthier than 79% 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 | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,032 | $76,510 | $78,145 |
| Median Personal Income | $72,483 | $58,415 | $61,726 |
| Average income growth | 5.4% | 4.8% | 5.1% |
| Six-Figure Earners | 13.4% | 12.4% | 13.2% |
The median household income in Yoakum County is about 7% higher than in Texas. Income has been growing faster in Yoakum County (5.4%/yr) than in Texas (4.8%/yr).
About 13% of adults in Yoakum County earn six figures ($100,000 or more) a year, higher than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Yoakum County, Texas grew by 71.1% from 2009 to 2023, reaching $82,032 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Yoakum County | Gender Pay Gap | Gini Coefficient
| Metric | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.624 | 0.587 | 0.570 |
| Male Median Income | $82,561 | $64,517 | $67,746 |
| Female Median Income | $42,454 | $51,419 | $54,793 |
| Gender Pay Gap | 48.6% | 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 Yoakum County, it is 0.624, 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 94% more than women's income in Yoakum County, Texas. Over a 35-year career, a 94% wage gap accumulates to roughly $1,403,745 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Yoakum County, Texas has widened from about 43% to 49% in 2023. In dollar terms, the gap has widened by $22,237 since 2009.
Employment
| Metric | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 5.1% | 5.2% |
| Working from Home | 2.2% | 12.8% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 111 people are unemployed in Yoakum County, Texas.
The average commute time in Yoakum County is 18 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Yoakum County, Texas has fallen from 6.2% to 3.4% in 2023.
Conclusion
Considering all these factors, Yoakum 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 Yoakum County, Texas.
How Rich Is Yoakum County, Texas?
Yoakum 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 $82,032, about 7% higher than the Texas average of $76,510.
What is the current median household income in Yoakum County, Texas?
As of 2023, the median household income in Yoakum County, Texas is $82,032.
What was the median household income in Yoakum County in 2023?
In 2023, the median household income in Yoakum County, Texas was $82,032.
What was the median household income in Yoakum County in 2020?
In 2020, the median household income in Yoakum County, Texas was $66,590.
What is the Gini coefficient in Yoakum County, Texas?
The Gini coefficient in Yoakum County is 0.624. 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 Yoakum County, Texas?
Since 2009, the income gap between men and women in Yoakum County, Texas has widened from about 43% to 49% in 2023. In dollar terms, the gap has widened by $22,237 since 2009.