Texas sees swelling household incomes

Texans grew marginally wealthier in the second half of the last decade, according to data from the U.S. Census Bureau.

By the numbers: The state's median household income rose 5% — from $60,771 between 2011-2015 to $63,826 between 2016-2020.

The big picture: That was the final stretch of the longest expansion in the history of U.S. business cycles and followed the Great Recession.

• The boom ended in spring 2020 as COVID spread, Axios' Mike Allen writes.

Zoom in: Central Texas experienced significantly faster growth than the rest of the state.

• Travis County saw the biggest gains in median household income at a 31.3% increase, growing from $61,000 to $81,000.
• Williamson County saw a 23.2% change, increasing from $74,000 to $91,000.
• Fast-growing Hays County saw a 17.3% increase, jumping from $59,000 to $69,000.

Yes, but: Inflation.

Zoom out: The nation's median household income, which had been $59,000 from 2011-2015, rose to $65,000 from 2016-2020.

• The growth coincides with a rise in educational attainment levels, as well as a significant drop in poverty levels nationwide — 15.5% to 12.8%.