Age of householder
Per the latest American Community Survey by the Census Bureau, Collin County sees its highest median household income among householders in the age group of 45 to 64 years old, at $144,460. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Collin County, householders within the 45 to 64 years age group have the highest median household income at $144,460, followed by those in the 25 to 44 years age group with an income of $115,758. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $71,192. Notably, householders within the under 25 years age group, had the lowest median household income at $52,305.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $16,243(12.67%), escalating from a median of $128,217 in 2012 to $144,460 in 2022.
- 11,562(2.79%) households where the householder is under 25 years old.
- 166,060(40.05%) households with a householder aged between 25 and 44 years.
- 163,665(39.48%) households with a householder aged between 45 and 64 years.
- 73,314(17.68%) households where the householder is over 65 years old.
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Gender
In Collin County, the population consists of 515,290 males (49.56%) and 524,522 females (50.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Collin County, the median income for all workers aged 15 years and older, regardless of work hours, was $68,312 for males and $41,206 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $92,327 for males and $64,438 for females.
- In Collin County, the median income for all workers aged 15 years and older, regardless of work hours, was $68,312 for males and $41,206 for females.
- In Collin County, among full-time, year-round workers aged 15 years and older, males earned a median income of $92,327, while females earned $64,438, leading to a 30% gender pay gap among full-time workers. This illustrates that women earn 70 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Collin County, the population is predominantly White, constituting 62.87% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for White households is $113,073.
- In Collin County, despite the White population being the most populous, it is worth noting that Native Hawaiian and Other Pacific Islander households actually reports the highest median household income, with a median income of $172,883. This reveals that, while Whites may be the most numerous in Collin County, Native Hawaiian and Other Pacific Islander households experience greater economic prosperity in terms of median household income.
- In Collin County, the median household income for the households where the householder is White increased by $4,737(4.37%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $108,336 in 2012 and $113,073 in 2022.
- In Collin County, the median household income for the households where the householder is Black or African American decreased by $689(0.82%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $83,517 in 2012 and $82,828 in 2022.
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Year by year
Collin County, TX median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Collin County increased by $4,145 (3.82%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 2,650 (from $111,277 to $113,927). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 2,191 (from $106,611 to $104,420).
- It then further increased to $149,821 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4314, it is evident that income distribution in Collin County, TX exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $138,276. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $61,838.
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