West Lake Hills Texas Income Charts

This section shows the West Lake Hills Texas economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, West Lake Hills depicts it has a Median earnings of $150,938 which is the third most median earnings of all other places in the greater West Lake Hills region. The city with the highest median earnings per worker in the area is Barton Creek CDP which depicts a median earnings of $247,240 (63.8% larger). Comparing median earnings per worker to the United States average of $53,269, West Lake Hills is approximately 2.8 times bigger. Also, measured against the state of Texas, median earnings per worker of $50,806, West Lake Hills is approximately 3.0 times bigger.

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 $191,667 which is the third most median income of all other places in the greater West Lake Hills region. The city with the highest median household income in the area is Barton Creek CDP which depicts a median income of $235,451 (22.8% larger). Comparing median household income to the United States average of $69,021, West Lake Hills is approximately 2.8 times bigger. Also, measured against the state of Texas, median household income of $67,321, West Lake Hills is approximately 2.8 times bigger.

The next section examines a variety of different income statistics for the West Lake Hills metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings between $75,000 and $99,999 at 55.9% of the total and is ranked #2. The only larger city being Barton Creek CDP with 66.6%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 41.6 which is in the mid range of other places in the metropolitan area. The city with the highest average hours in the area is Bee Cave which shows an average hours of 44.4 (6.7% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $69.78 which is the third most average hourly earnings of all other places in the greater West Lake Hills region. The city with the highest average hourly earnings in the area is Barton Creek CDP which depicts an average hourly earnings of $107.57 (54.2% larger). Comparing average hourly earnings to the United States average of $26.40, West Lake Hills is approximately 2.6 times bigger. Also, compared to the state of Texas, average hourly earnings of $24.43, West Lake Hills is approximately 2.9 times bigger.

Figure 7 examines the number of self employed people in the West Lake Hills metro area based on the number of people who reported any self employment income. West Lake Hills shows it has a Self Employed of 24.9% which is the third most people self employed of all other places in the greater West Lake Hills region. The city with the highest percentage of people self employed in the area is Rollingwood which depicts a percentage self employed of 28.4% (14.1% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $250,001 of the total and is ranked #1. Second, it has in the mid range of other places in the local area when sorted by median income-25 to 44 years at $242,125 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $117,240 of the total and is ranked #2. The only larger city being Rollingwood with $128,125.

Figure 9 breaks down the source of income and West Lake Hills has the largest proportion of self employment income at 23.4% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 26.9% which is the second most of all the places in the metropolitan area. The city with the highest households with retirement income in the area is Sunset Valley which depicts a households with retirement income of 41.3% (53.6% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $209,663 of the total and is ranked #3. Only #2 Rollingwood ($237,083), and #1 Barton Creek CDP ($250,001) are larger. Second, it has the largest proportion of american indian family income at $250,001 of the total and is ranked #1. Third, it has one of the largest proportions of hawaiian family income at $135,905 of the total and is ranked #2. The only larger city being Rollingwood with $250,001.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. West Lake Hills depicts it has the hightest cost of 444.1 for the cost of housing category.

West Lake Hills Texas Labor Force Charts

The next two charts look at very recent, 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 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from February 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 6.4% to 2.4% in February 2020. This represents a decrease in the monthly unemployment rate of 62.5%. Since that time, the monthly unemployment rate has gone to 2.9% This represents an increase in the monthly unemployment rate of 20.8%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It depicts that from February 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly labor force participation went from 461,604 to 575,594 in March 2020. This represents an increase in the monthly labor force participation of 24.7%. Since that time, the monthly labor force participation has gone to 634,327 This represents an increase in the monthly labor force participation of 10.2%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows West Lake Hills depicts it has a Unemployment Rate of 2.3% which is the second most unemployment rate of all the places in the greater West Lake Hills region. The city with the highest unemployment rate in the area is Austin which depicts a rate of 3.3% (43.4% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. West Lake Hills shows it has a Labor Force Participation of 49.5% which is the smallest in terms of participation rate of all the other places in the local area.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). West Lake Hills has the largest proportion of unemployed at 50.5% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. West Lake Hills depicts full time employees approximately 3.4 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater West Lake Hills area. West Lake Hills shows it has a Single Earner Families of 38.1% which is less than most other places in the area. The city with the highest families with a single earner in the area is Lost Creek CDP which depicts a single earners rate of 53.6% (40.6% larger). The percentage of families with no one working is depicted in Figure 22. West Lake Hills shows it has a Families with No One Working of 19.3% which is the second most families with no one working of all the places in the greater West Lake Hills region. The city with the highest families with no one working in the area is Sunset Valley which depicts a families with no worker of 21.4% (11.3% larger).

West Lake Hills Texas Poverty Charts

The next section details economy analysis about poverty for residents of the West Lake Hills community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. West Lake Hills shows it has a Total In Poverty of 206 which is the third most of all other places in the area. The city with the highest total people earning less than the poverty level in the area is Austin which shows a total people earning less than the poverty level of 115,570 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. West Lake Hills shows it has a Percent of Population In Poverty of 6.2% which is the third most percent of people earning less than the poverty level of all other places in the greater West Lake Hills region. The city with the highest percent of people earning less than the poverty level in the area is Austin which depicts a percent of people in poverty of 12.5% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. West Lake Hills has the largest proportion of person in poverty under 12 years at 34% of the total and is ranked #1. Second, it has one of the largest proportions of person in poverty 12 to 17 years at 26% of the total and is ranked #2. The only larger city being Austin with 40%. Third, it has one of the largest proportions of person in poverty 18 to 34 years at 31% of the total and is ranked #2. The only larger city being Bee Cave with 51%. Also, it has the second smallest in order of person in poverty under 12 years of all the other places in the metro area when sorted by person in poverty 35 to 54 years at 2% of the total. In addition, it has less than most other places in the metro area in order of person in poverty 55 to 64 years at 6% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. West Lake Hills has the largest proportion of married with children and in poverty at 34% of the total and is ranked #1. Second, it has one of the largest proportions of unmarried with children and in poverty at 38% of the total and is ranked #2. The only larger city being Austin with 38%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. West Lake Hills has one of the largest proportions of highschool graduate and in poverty at 14% of the total and is ranked #2. The only larger city being Sunset Valley with 16%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. West Lake Hills has one of the largest proportions of people who are in poverty and unemployed at 37.4% of the total and is ranked #2. The only larger city being Barton Creek CDP with 45.0%. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) West Lake Hills depicts it has a Public Assistance Percent of 0.7% which is in the mid point range of other places in the metro area. The city with the highest households with public assistance in the area is Bee Cave which depicts a households with public assistance of 8.6% ( markedly bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). West Lake Hills shows it has a Gini Index of 48.4% which is in the middle range of other places in the local area.

West Lake Hills Texas Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the West Lake Hills community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) West Lake Hills has the smallest proportion of people who take public transportation to work at 1% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown West Lake Hills or elsewhere.) West Lake Hills has the percentage of people who drove alone the second smallest in terms of people who drove alone of all the other places in the metropolitan area at 54% of the total. Second, it has the smallest proportion of people who walked at 1% of the total. Third, it has one of the largest proportions of people who work from home at 35% of the total and is ranked #2. The only larger city being Sunset Valley with 38%.

In Figure 35 is shown a frequency distribution of the time that people leave for work. West Lake Hills has one of the largest proportions of people who leave for work between 12am to 5am at 2% of the total and is ranked #2. The only larger city being Austin with 2%. Second, it has the smallest proportion of people who leave for work between 6am to 630am at 3% of the total. Third, it has the largest proportion of people who leave for work between 730 am to 8am at 25% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 8am to 830am at 14% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 830 am to 9am at 9% of the total. Furthermore, it has the largest proportion of people who leave for work between 9am to 10am at 9% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. West Lake Hills has the percentage of people with commute time of less than 5 minutesutes in the center range of other places in the local area at 4% of the total. Second, it has the second smallest in order of people with commute time of less than 5 minutes of all the other places in the local area when ranked by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 32% of the total and is ranked #1.

The average commute time is shown in Figure 37. West Lake Hills depicts it has a Avg Commute Time of 21 which is less than most other places in the area. Figure 38 shows the difference between male versus female commuting time. West Lake Hills depicts average commute time in minutes for men 71.8% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and West Lake Hills has the percentage of no vehicle available the second smallest as measured by no vehicle available of all the other places in the local area at 9% of the total. Second, it has one of the largest proportions of 1 vehicle available at 59% of the total and is ranked #2. The only larger city being Lost Creek CDP with 60%. Third, it has the second smallest when ranked by no vehicle available of all the other places in the metro area as measured by 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) West Lake Hills shows it has a Work in city or place where live of 38% which is the third most of all other places in the local area. The city with the highest people who both work and live in the same city in the area is Austin which depicts a people who both work and live in the same city of 87% (approximately 2.3 times bigger). Comparing people who both work and live in the same city to the United States average of 44%, West Lake Hills is about 14.6% smaller. Also, measured against the state of Texas, people who both work and live in the same city of 54%, West Lake Hills is approximately three-fourths the size.

West Lake Hills Texas Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. West Lake Hills depicts it has the hightest median earnings of $250,001 for the management, business, and financial occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and West Lake Hills shows it has the hightest median earnings of $250,001 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows West Lake Hills employment data in terms of job categories and salary data.

West Lake Hills Texas Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. West Lake Hills depicts it has the hightest entrepreneurs of 83% for the self employed management, business, science, and arts businesses aggregate.

Similar to the last chart is Figure 50 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. West Lake Hills shows it has the hightest entrepreneurs of 57% for the self employed in professional, scientific, management, administrative services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. West Lake Hills depicts it has a Self Employment Income of $78,172 which is less than most other places in the local area. The city with the highest average annual self employment income in the area is Barton Creek CDP which depicts an average annual self employment income of $282,144 (approximately 3.6 times bigger). Comparing average annual self employment income to the United States average of $42,141, West Lake Hills is about twice as large. Also, in comparison with the state of Texas, average annual self employment income of $43,283, West Lake Hills is about twice as large.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) West Lake Hills shows total number of self-employed men approximately 3.6 times bigger as the total number of self-employed women.