Tom Bean, TX Profile: Facts & Data

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Tom Bean, Texas - Basic Facts

The City of Tom Bean had a population of 918 as of July 1, 2023. Tom Bean ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Texas. See peer rankings below.

The primary coordinate point for Tom Bean is located at latitude 33.5201 and longitude -96.4839 in Grayson County. The formal boundaries for the City of Tom Bean encompass a land area of 1.57 sq. miles and a water area of 0 sq. miles. Grayson County is in the Central time zone (GMT -6).

The City of Tom Bean has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Texas is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Tom Bean is located within East Grayson Division of Grayson County.


Jump to... (On This Page!)
  1. Tom Bean 2023 Demographic Data
  2. Growth Rates for Tom Bean (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Texas Research Tools (Easy Tools & Current Data)
  3. Texas Data Comparison Tool - 2023 Demographics
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Tom Bean, TX Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 918 (100%)
Population in Households 918 (100.0%)
Population in Families 784 (85.4%)
Population in Group Quarters1 0
Population Density 583
Diversity Index2 43
 
 

INCOME

Median Household Income $77,074
Average Household Income $96,655
% of Income for Mortgage4 17%
Per Capita Income $37,272
Wealth Index5 82
Socioeconomic Status Index6 Moderate (53.4)
 

HOUSING

Total HU (Housing Units) 404 (100%)
Owner Occupied HU 244 (60.4%)
Renter Occupied HU 110 (27.2%)
Vacant Housing Units 50 (12.4%)
Median Home Value $215,789
Average Home Value $267,213
Housing Affordability Index3 136
 

HOUSEHOLDS

Total Households 354
Average Household Size 2.59
Family Households 260
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -0.40% -1.25%
Households -1.60% -1.10%
Families   -1.18%
Median Household Income   4.02%
Per Capita Income   2.69%
Owner Occupied HU   -0.66%

Tom Bean, TX - Peer Comparisons by Rank and Percentile

The table below compares Tom Bean to the other 1,862 incorporated cities, towns and CDPs in Texas by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 1023 45th
Population Density # 1074 42nd
Median Household Income # 462 75th
Housing Affordability Index # 1181 63rd
Per Capita Income # 517 72nd
Diversity Index # 1627 13th

Additional comparisons and rankings can be made with a VERY EASY TO USE Texas Census Data Comparison Tool.

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