Royal Oak, Michigan Income Statistics
Royal Oak 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.
-
A
Royal Oak Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Royal Oak | Michigan Avg | US Average |
|---|---|---|---|
| Median Household Income | $101,778 | $72,977 | $80,455 |
| Median Personal Income | $82,077 | $59,920 | $60,758 |
| Average Yearly Income Growth | 5.0% | 4.6% | 4.8% |
| Six-Figure Earners | 25.6% | 11.4% | 13.9% |
| $200k+ Households | 17.8% | 9.5% | 13.2% |
The median household income in Royal Oak is about 39% higher than in Michigan. Income has been growing faster in Royal Oak (5.0%/yr) than in Michigan (4.6%/yr).
About 26% of adults in Royal Oak earn six figures ($100,000 or more) a year, higher than the Michigan average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Royal Oak, Michigan grew by 72.0% from 2009 to 2024, reaching $101,778 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in Royal Oak
| Metric | Royal Oak | Michigan Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.469 | 0.539 | 0.552 |
| Male Median Income | $102,904 | $69,354 | $69,667 |
| Female Median Income | $75,934 | $54,749 | $56,850 |
| Gender Pay Gap | 26.2% | 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 Royal Oak, it is 0.469, 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 36% more than women's income in Royal Oak, Michigan. Over a 35-year career, a 36% wage gap accumulates to roughly $943,950 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Royal Oak, Michigan has stayed about the same since 2009, at around 26%. Over that period the gap was narrowest at 19% in 2012. In dollar terms, the gap has widened by $11,073 since 2009.
Employment
| Metric | Royal Oak | Michigan Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 5.7% | 5.2% |
| Working from Home | 27.4% | 13.5% | 15.0% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 1,299 people are unemployed in Royal Oak, Michigan.
The average commute time in Royal Oak is 22 minutes, longer than the 21 minutes in Michigan.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Royal Oak, Michigan has fallen from 7.0% to 3.5% in 2024. Over that period the rate peaked at 7.0% in 2012 and fell as low as 2.9% in 2020.
Royal Oak, MI Wealth Compared With Nearby Cities
How Royal Oak, 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. |
|---|---|---|---|---|---|
| Royal Oak, MI | 57,530 | $101,778 #1/2 | 5.0%/yr #2/2 | 3.5% #2/2 | 0.469 #1/2 |
| Madison Heights, MI | 28,434 | $69,481 | 6.0%/yr | 2.8% | 0.482 |
Conclusion
Considering all these factors, Royal Oak, Michigan has an overall wealth index grade of A, making it far better than Michigan, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Royal Oak, Michigan.
How Rich Is Royal Oak, Michigan?
Royal Oak has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $101,778, about 39% higher than the Michigan average of $72,977.
How fast is household income rising in Royal Oak, Michigan?
Between 2009 and 2024, the median household income in Royal Oak, Michigan rose 72%, from $59,156 to $101,778. Over the same years, income here outpaced Michigan as a whole: +72% against +50%.
What was the median household income in Royal Oak in 2023?
In 2023, the median household income in Royal Oak, Michigan was $95,909, up 3% from $93,455 in 2022. The Michigan median that year was $71,362.
What was the median household income in Royal Oak in 2020?
In 2020, the median household income in Royal Oak, Michigan was $84,172. By 2024 it had risen 21% to $101,778.
Is Royal Oak, Michigan a high-income area?
Yes. 26% of adults in Royal Oak, Michigan earn $100,000 or more a year (about 1 in 4), against 11% (about 1 in 9) in Michigan. 18% of households have a combined income of $200,000 or more, compared with 10% in Michigan.
How strong is the job market in Royal Oak, Michigan?
Unemployment in Royal Oak, Michigan is only 3.5%, well below the Michigan rate of 5.7%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Royal Oak, Michigan?
The Gini coefficient in Royal Oak is 0.469. 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 Royal Oak, Michigan?
The income gap between men and women in Royal Oak, Michigan has stayed about the same since 2009, at around 26%. Over that period the gap was narrowest at 19% in 2012. In dollar terms, the gap has widened by $11,073 since 2009.
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