Wealth Index
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 | Alfalfa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,576 | $63,953 | $78,145 |
| Median Personal Income | $52,902 | $52,060 | $61,726 |
| Average income growth | 4.0% | 4.1% | 5.1% |
| Six-Figure Earners | 7.1% | 8.8% | 13.2% |
The median household income in Alfalfa County is about 10% higher than in Oklahoma. Income has been growing slower in Alfalfa County (4.0%/yr) than in Oklahoma (4.1%/yr).
About 7% of adults in Alfalfa County earn six figures ($100,000 or more) a year, lower than the Oklahoma average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Alfalfa County, Oklahoma grew by 78.0% from 2009 to 2023, reaching $70,576 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Alfalfa County | Gender Pay Gap | Gini Coefficient
| Metric | Alfalfa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.602 | 0.560 | 0.570 |
| Male Median Income | $60,787 | $59,197 | $67,746 |
| Female Median Income | $45,392 | $45,400 | $54,793 |
| Gender Pay Gap | 25.3% | 23.3% | 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 Alfalfa County, it is 0.602, higher than Oklahoma's 0.560, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 34% more than women's income in Alfalfa County, Oklahoma. Over a 35-year career, a 34% wage gap accumulates to roughly $538,825 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Alfalfa County, Oklahoma has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $5,668 since 2009.
Employment
| Metric | Alfalfa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.8% | 5.2% |
| Working from Home | 4.8% | 8.5% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 93 people are unemployed in Alfalfa County, Oklahoma.
The average commute time in Alfalfa County is 17 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Alfalfa County, Oklahoma has risen from 4.2% to 4.3% in 2023.
Conclusion
Considering all these factors, Alfalfa County, Oklahoma has an overall wealth index grade of D, making it about on par with Oklahoma, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Alfalfa County, Oklahoma.
How Wealthy Is Alfalfa County, Oklahoma?
Alfalfa County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $70,576, about 10% higher than the Oklahoma average of $63,953.
What is the current median household income in Alfalfa County, Oklahoma?
As of 2023, the median household income in Alfalfa County, Oklahoma is $70,576.
What was the median household income in Alfalfa County in 2023?
In 2023, the median household income in Alfalfa County, Oklahoma was $70,576.
What was the median household income in Alfalfa County in 2020?
In 2020, the median household income in Alfalfa County, Oklahoma was $64,445.
What is the Gini coefficient in Alfalfa County, Oklahoma?
The Gini coefficient in Alfalfa County is 0.602. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Alfalfa County, Oklahoma?
Since 2009, the income gap between men and women in Alfalfa County, Oklahoma has narrowed from about 27% to 25% in 2023. In dollar terms, the gap has widened by $5,668 since 2009.