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 | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,700 | $63,953 | $78,145 |
| Median Personal Income | $50,489 | $52,060 | $61,726 |
| Average income growth | 1.4% | 4.1% | 5.1% |
| Six-Figure Earners | 5.2% | 8.8% | 13.2% |
The median household income in Beckham County is about 16% lower than in Oklahoma. Income has been growing slower in Beckham County (1.4%/yr) than in Oklahoma (4.1%/yr).
About 5% of adults in Beckham 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 Beckham County, Oklahoma grew by 29.0% from 2009 to 2023, reaching $53,700 in 2023. That's an average of about 1.4% per year.
Economic Inequality in Beckham County | Gender Pay Gap | Gini Coefficient
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.607 | 0.560 | 0.570 |
| Male Median Income | $54,401 | $59,197 | $67,746 |
| Female Median Income | $43,784 | $45,400 | $54,793 |
| Gender Pay Gap | 19.5% | 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 Beckham County, it is 0.607, 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 24% more than women's income in Beckham County, Oklahoma. Over a 35-year career, a 24% wage gap accumulates to roughly $371,595 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Beckham County, Oklahoma has narrowed from about 44% to 20% in 2023. In dollar terms, the gap has narrowed by $8,558 since 2009.
Employment
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 4.8% | 5.2% |
| Working from Home | 4.0% | 8.5% | 13.4% |
| Commute time (minutes) | 11 | 18 | 22 |
Approximately 507 people are unemployed in Beckham County, Oklahoma.
The average commute time in Beckham County is 11 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Beckham County, Oklahoma has risen from 4.1% to 5.8% in 2023.
Conclusion
Considering all these factors, Beckham 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 Beckham County, Oklahoma.
How Rich Is Beckham County, Oklahoma?
Beckham 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 $53,700, about 16% lower than the Oklahoma average of $63,953.
What is the current median household income in Beckham County, Oklahoma?
As of 2023, the median household income in Beckham County, Oklahoma is $53,700.
What was the median household income in Beckham County in 2023?
In 2023, the median household income in Beckham County, Oklahoma was $53,700.
What was the median household income in Beckham County in 2020?
In 2020, the median household income in Beckham County, Oklahoma was $47,361.
What is the Gini coefficient in Beckham County, Oklahoma?
The Gini coefficient in Beckham County is 0.607. 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 Beckham County, Oklahoma?
Since 2009, the income gap between men and women in Beckham County, Oklahoma has narrowed from about 44% to 20% in 2023. In dollar terms, the gap has narrowed by $8,558 since 2009.