The Colony Texas Income Charts

This section shows the The Colony Texas economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, The Colony shows it has a Median earnings of $62,378 which is less than most other places in the local area. The city with the highest median earnings per worker in the area is Hebron which shows a median earnings of $116,667 (about twice as large). Comparing median earnings per worker to the United States average of $53,269, The Colony is 17.1% larger. Also, compared with the state of Texas, median earnings per worker of $50,806, The Colony is 22.8% larger.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $96,901 which is the second smallest when ranked by median household income of all the other places in the metro area. The city with the highest median household income in the area is Hebron which depicts a median income of $187,750 (about twice as large). Comparing median household income to the United States average of $69,021, The Colony is 40.4% larger. Also, in contrast to the state of Texas, median household income of $67,321, The Colony is 43.9% larger. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $28.49 which is less than most other places in the metropolitan area. The city with the highest average hourly earnings in the area is Hebron which shows an average hourly earnings of $49.31 (73.1% larger). Comparing average hourly earnings to the United States average of $26.40, The Colony is 7.9% larger. Also, versus the state of Texas, average hourly earnings of $24.43, The Colony is 16.7% larger.

Figure 5 examines the number of self employed people in the The Colony metro area based on the number of people who reported any self employment income. The Colony depicts it has a Self Employed of 12.1% which is the second most people self employed of all the places in the greater The Colony region. The city with the highest percentage of people self employed in the area is Frisco which depicts a percentage self employed of 12.7% (only about 5.2% larger).

The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 13.8% which is in the mid range of other places in the local area. The city with the highest households with retirement income in the area is Lakewood Village which shows a households with retirement income of 28.6% (about twice as large).

The percentage of full-time workers are compared to the number of part-time workers in Figure 8. The Colony depicts full time employees considerably bigger as the part time employees.

Similar to the last chart is Figure 9 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. The Colony shows it has the hightest entrepreneurs of 34% for the self employed in professional, scientific, management, administrative services group.

Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. The Colony depicts it has the hightest cost of 121.9 for the cost of housing category.

The Colony Texas Poverty Charts

In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. The Colony shows it has a Percent of Population In Poverty of 7.2% which is in the mid range of other places in the metro area. The city with the highest percent of people earning less than the poverty level in the area is Lewisville which shows a percent of people in poverty of 9.6% (32.8% larger). Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) The Colony depicts it has a Public Assistance Percent of 4.2% which is in the center range of other places in the metro area. The city with the highest households with public assistance in the area is Lewisville which depicts a households with public assistance of 9.4% (approximately 2.2 times bigger).

The Colony Texas Labor Force Charts

The table in Figure 13, shows The Colony employment data in terms of job categories and salary data.

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate indicates that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 4.0% to 2.6% in December 2019. This represents a decrease in the monthly unemployment rate of 35.0%. Since that time, the monthly unemployment rate has gone to 2.6%. This represents an increase in the monthly unemployment rate of very little.

The Colony Texas Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

The Colony Texas Work Commute Charts

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.

The average commute time is shown in Figure 21. The Colony shows it has a Avg Commute Time of 28 which is less than most other places in the local area.