Oak Park, Michigan Income Statistics
Oak Park Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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C
Oak Park Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Oak Park | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,831 | $72,977 | $80,455 |
| Median Personal Income | $56,909 | $59,920 | $60,758 |
| Average Yearly Income Growth | 4.6% | 4.6% | 4.8% |
| Six-Figure Earners | 8.1% | 11.4% | 13.9% |
| $200k+ Households | 5.6% | 9.5% | 13.2% |
The median household income in Oak Park is about 3% lower than in Michigan. Income has been growing slower in Oak Park (4.6%/yr) than in Michigan (4.6%/yr).
About 8% of adults in Oak Park earn six figures ($100,000 or more) a year, lower than the Michigan average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Oak Park, Michigan grew by 43.1% from 2009 to 2024, reaching $70,831 in 2024. That's an average of about 4.6% per year.
Income Inequality and the Gender Pay Gap in Oak Park
| Metric | Oak Park | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.503 | 0.539 | 0.552 |
| Male Median Income | $66,840 | $69,354 | $69,667 |
| Female Median Income | $61,279 | $54,749 | $56,850 |
| Gender Pay Gap | 8.3% | 21.1% | 18.4% |
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 Oak Park, it is 0.503, lower than Michigan's 0.539, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 9% more than women's income in Oak Park, Michigan. Over a 35-year career, a 9% wage gap accumulates to roughly $194,635 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Oak Park, Michigan has narrowed from about 13% to 8% in 2024. Over that period the gap was widest at 14% in 2023, and was narrowest at 2% in 2013. In dollar terms, the gap has narrowed by $579 since 2009.
Employment
| Metric | Oak Park | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.9% | 5.7% | 5.2% |
| Working from Home | 23.1% | 13.5% | 15.0% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 1,786 people are unemployed in Oak Park, Michigan.
The average commute time in Oak Park is 22 minutes, longer than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Oak Park, Michigan has fallen from 16.8% to 10.9% in 2024. Over that period the rate peaked at 16.9% in 2012 and fell as low as 5.6% in 2019.
Oak Park, MI Wealth Compared With Nearby Cities
How Oak Park, MI compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Oak Park, MI | 29,311 | $70,831 #2/2 | 4.6%/yr #2/2 | 10.9% #2/2 | 0.503 #2/2 |
| Royal Oak, MI | 57,530 | $101,778 | 5.0%/yr | 3.5% | 0.469 |
Conclusion
Considering all these factors, Oak Park, Michigan has an overall wealth index grade of C, making it about on par with Michigan, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Oak Park, Michigan.
How Wealthy Is Oak Park, Michigan?
Oak Park 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 $70,831, about 3% lower than the Michigan average of $72,977.
Are incomes growing in Oak Park, Michigan?
Between 2009 and 2024, the median household income in Oak Park, Michigan rose 43%, from $49,496 to $70,831. Over the same years, income here lagged behind Michigan as a whole: +43% against +50%.
What was the median household income in Oak Park in 2023?
In 2023, the median household income in Oak Park, Michigan was $65,119, up 6% from $61,710 in 2022. The Michigan median that year was $71,362.
What was the median household income in Oak Park in 2020?
In 2020, the median household income in Oak Park, Michigan was $53,936. By 2024 it had risen 31% to $70,831.
How strong is the job market in Oak Park, Michigan?
Unemployment in Oak Park, Michigan is 10.9%, well above the Michigan rate of 5.7%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Oak Park, Michigan?
The Gini coefficient in Oak Park is 0.503. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Oak Park, Michigan?
Since 2009, the income gap between men and women in Oak Park, Michigan has narrowed from about 13% to 8% in 2024. Over that period the gap was widest at 14% in 2023, and was narrowest at 2% in 2013. In dollar terms, the gap has narrowed by $579 since 2009.
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