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 | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,633 | $63,953 | $78,145 |
| Median Personal Income | $45,915 | $52,060 | $61,726 |
| Average income growth | 4.0% | 4.1% | 5.1% |
| Six-Figure Earners | 5.0% | 8.8% | 13.2% |
The median household income in Caddo County is about 18% lower than in Oklahoma. Income has been growing slower in Caddo County (4.0%/yr) than in Oklahoma (4.1%/yr).
About 5% of adults in Caddo 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 Caddo County, Oklahoma grew by 43.0% from 2009 to 2023, reaching $52,633 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Caddo County | Gender Pay Gap | Gini Coefficient
| Metric | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.560 | 0.570 |
| Male Median Income | $47,987 | $59,197 | $67,746 |
| Female Median Income | $40,343 | $45,400 | $54,793 |
| Gender Pay Gap | 15.9% | 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 Caddo County, it is 0.577, 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 19% more than women's income in Caddo County, Oklahoma. Over a 35-year career, a 19% wage gap accumulates to roughly $267,540 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Caddo County, Oklahoma has narrowed from about 23% to 16% in 2023. In dollar terms, the gap has narrowed by $743 since 2009.
Employment
| Metric | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 4.8% | 5.2% |
| Working from Home | 4.9% | 8.5% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 603 people are unemployed in Caddo County, Oklahoma.
The average commute time in Caddo County is 17 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Caddo County, Oklahoma has fallen from 9.0% to 5.4% in 2023.
Conclusion
Considering all these factors, Caddo County, Oklahoma has an overall wealth index grade of D, making it somewhat worse than Oklahoma, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Caddo County, Oklahoma.
How Rich Is Caddo County, Oklahoma?
Caddo 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 $52,633, about 18% lower than the Oklahoma average of $63,953.
What is the current median household income in Caddo County, Oklahoma?
As of 2023, the median household income in Caddo County, Oklahoma is $52,633.
What was the median household income in Caddo County in 2023?
In 2023, the median household income in Caddo County, Oklahoma was $52,633.
What was the median household income in Caddo County in 2020?
In 2020, the median household income in Caddo County, Oklahoma was $46,520.
What is the Gini coefficient in Caddo County, Oklahoma?
The Gini coefficient in Caddo County is 0.577. 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 Caddo County, Oklahoma?
Since 2009, the income gap between men and women in Caddo County, Oklahoma has narrowed from about 23% to 16% in 2023. In dollar terms, the gap has narrowed by $743 since 2009.