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24/7 Wall St.: States with the Widest Gap Between the Rich and Poor

8. Texas

Gini coefficient: 0.4771
Median household income: $49,392 (25th highest)
Households earning $200,000+: 5.4% (16th highest)
Population living below poverty line: 18.5% (11th highest)

The percentage of Texan households earning more than $200,000 in 2011 increased to 5.4% from 5.1% in 2010, placing Texas in the top-third nationally. The same was true for the other end of income earnings. The percentage of households earning less than $10,000 was also in the top third at 5.7%, up from 5.3% in 2010. Texas’s unemployment rate in Sept. 2011 of 7.9% was significantly better than the national rate of 9% at the time. However, the state had a disproportionate share of low-wage jobs compared to the country as a whole, according to the BLS. Workers earning minimum wage or less comprised 8% of the state’s hourly workers in 2011 compared to 5.2% nationwide.


More From 24/7 Wall St.:
States with the Highest (and Lowest) Taxes
10 Cities with the Hottest Housing Markets
10 Brands Losing the Most Value

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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