Midland median income up by 14.8 percent
MIDLAND – Midland’s median household income rose to more than $71,000 in 2013, a 14.8 percent increase year-over-year from 2012, according to the U.S. Census Bureau.
Midland’s median household income has increased by 27 percent since 2011, rising $15,000 between 2011 and 2013. The Midland metropolitan area now ranks ninth in the U.S. for median home income.
Median income in Midland is almost $20,000 higher than the median household income in Texas and $19,000 higher than the U.S. median household income.
Midland’s previous peak, $62,272, was in 2008 before the recession, and then dipped until 2012, when it started growing again.
The Odessa metropolitan area ranks 74th in median household income behind Atlanta, and its income from 2012 to 2013 increased by 5.7 percent. Between 2011 and 2013, Odessa saw a 7.6 percent increase in income with a gain of almost $4,000.
More than $42 billion in oil revenue has been the catalyst for Midland and Odessa income growth. The oil industry has created thousands of jobs and has pushed Midland’s population above 120,000 this year.
Read more at the Midland Reporter-Telegram.