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The total population of Farwell is estimated to be 1,530 with 613 males (40.07%) and 917 females (59.93%). There are 304 more females than males in Farwell.
The median household income in Farwell was $54,946 in 2021, which marked an an increase of 6,810(14.15%) from $48,136 in 2020. This income is 73.65% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Farwell sees its highest median household income among householders in the age group of 45 to 64 years old, at $95,203. Overall, the median household income for the city of Farwell stands at $54,946.
In Farwell, the median income for all workers aged 15 years and older, regardless of work hours, was $44,407 for males and $24,644 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $45,824 for males and $24,321 for females.
In Farwell, population is primarily represented by White households, reporting a median income of $55,547.
In 2022, the population of Farwell was 1,387, a 0.72% decrease year-by-year from 2021. Previously, in 2021, Farwell's population was 1,397, a decline of 1.83% compared to a population of 1,423 in 2020.
The median age in Farwell, TX is 29.2, as per 2021 ACS 5-Year Estimates. Of the total population, 35.53% were under the age of 15, 16.61% aged 15 to 29, 35.46% aged 30 to 64, 11.82% aged 65 to 84, and 0.58% were 85 years of age and older.
Racial distribution of Farwell population: 93.42% are White, 0.51% are Black or African American, 0.32% are American Indian and Alaska Native, 1.47% are Asian, 0.89% are some other race and 3.39% are multiracial.