Wealth Index
Among the 5 least wealthy counties in Maine
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Oxford County | Maine Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,430 | $72,025 | $78,145 |
| Median Personal Income | $53,857 | $59,309 | $61,726 |
| Average income growth | 4.8% | 5.1% | 5.1% |
| Six-Figure Earners | 6.3% | 10.3% | 13.2% |
The median household income in Oxford County is about 19% lower than in Maine. Income has been growing slower in Oxford County (4.8%/yr) than in Maine (5.1%/yr).
About 6% of adults in Oxford County earn six figures ($100,000 or more) a year, lower than the Maine average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Oxford County, Maine grew by 45.9% from 2009 to 2023, reaching $58,430 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Oxford County | Gender Pay Gap | Gini Coefficient
| Metric | Oxford County | Maine Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.519 | 0.570 |
| Male Median Income | $59,235 | $64,651 | $67,746 |
| Female Median Income | $48,713 | $53,280 | $54,793 |
| Gender Pay Gap | 17.8% | 17.6% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Oxford County, it is 0.509, lower than Maine's 0.519, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Oxford County, Maine. Over a 35-year career, a 22% wage gap accumulates to roughly $368,270 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Oxford County, Maine has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $1,464 since 2009.
Employment
| Metric | Oxford County | Maine Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 3.9% | 5.2% |
| Working from Home | 11.3% | 14.1% | 13.4% |
| Commute time (minutes) | 23 | 20 | 22 |
Approximately 1,339 people are unemployed in Oxford County, Maine.
The average commute time in Oxford County is 23 minutes, longer than the 20 minutes in Maine.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Oxford County, Maine has fallen from 10.8% to 4.8% in 2023.
Conclusion
Considering all these factors, Oxford County, Maine has an overall wealth index grade of C, making it about on par with Maine, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Oxford County, Maine.
How Wealthy Is Oxford County, Maine?
Oxford County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $58,430, about 19% lower than the Maine average of $72,025.
What is the current median household income in Oxford County, Maine?
As of 2023, the median household income in Oxford County, Maine is $58,430.
What was the median household income in Oxford County in 2023?
In 2023, the median household income in Oxford County, Maine was $58,430.
What was the median household income in Oxford County in 2020?
In 2020, the median household income in Oxford County, Maine was $49,787.
What is the Gini coefficient in Oxford County, Maine?
The Gini coefficient in Oxford County is 0.509. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Oxford County, Maine?
Since 2009, the income gap between men and women in Oxford County, Maine has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $1,464 since 2009.