Wealth Index
Wealthiest county in Oklahoma
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 | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,653 | $63,953 | $78,145 |
| Median Personal Income | $59,971 | $52,060 | $61,726 |
| Average income growth | 3.8% | 4.1% | 5.1% |
| Six-Figure Earners | 11.5% | 8.8% | 13.2% |
The median household income in Canadian County is about 35% higher than in Oklahoma. Income has been growing slower in Canadian County (3.8%/yr) than in Oklahoma (4.1%/yr).
About 11% of adults in Canadian County earn six figures ($100,000 or more) a year, higher than the Oklahoma average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Canadian County, Oklahoma grew by 46.6% from 2009 to 2023, reaching $86,653 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Canadian County | Gender Pay Gap | Gini Coefficient
| Metric | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.560 | 0.570 |
| Male Median Income | $69,415 | $59,197 | $67,746 |
| Female Median Income | $50,199 | $45,400 | $54,793 |
| Gender Pay Gap | 27.7% | 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 Canadian County, it is 0.534, lower than Oklahoma's 0.560, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 38% more than women's income in Canadian County, Oklahoma. Over a 35-year career, a 38% wage gap accumulates to roughly $672,560 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Canadian County, Oklahoma has widened from about 27% to 28% in 2023. In dollar terms, the gap has widened by $6,368 since 2009.
Employment
| Metric | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.8% | 5.2% |
| Working from Home | 9.8% | 8.5% | 13.4% |
| Commute time (minutes) | 23 | 18 | 22 |
Approximately 3,406 people are unemployed in Canadian County, Oklahoma.
The average commute time in Canadian County is 23 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Canadian County, Oklahoma has fallen from 5.6% to 4.0% in 2023.
Conclusion
Considering all these factors, Canadian County, Oklahoma has an overall wealth index grade of B, making it somewhat better than Oklahoma, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Canadian County, Oklahoma.
How Rich Is Canadian County, Oklahoma?
Canadian County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $86,653, about 35% higher than the Oklahoma average of $63,953.
What is the current median household income in Canadian County, Oklahoma?
As of 2023, the median household income in Canadian County, Oklahoma is $86,653.
What was the median household income in Canadian County in 2023?
In 2023, the median household income in Canadian County, Oklahoma was $86,653.
What was the median household income in Canadian County in 2020?
In 2020, the median household income in Canadian County, Oklahoma was $73,463.
What is the Gini coefficient in Canadian County, Oklahoma?
The Gini coefficient in Canadian County is 0.534. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Canadian County, Oklahoma?
Since 2009, the income gap between men and women in Canadian County, Oklahoma has widened from about 27% to 28% in 2023. In dollar terms, the gap has widened by $6,368 since 2009.