Wealth Index
Less wealthy than 93% of counties 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 | Choctaw County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,525 | $63,953 | $78,145 |
| Median Personal Income | $44,288 | $52,060 | $61,726 |
| Average income growth | 5.7% | 4.1% | 5.1% |
| Six-Figure Earners | 4.7% | 8.8% | 13.2% |
The median household income in Choctaw County is about 29% lower than in Oklahoma. Income has been growing faster in Choctaw County (5.7%/yr) than in Oklahoma (4.1%/yr).
About 5% of adults in Choctaw 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 Choctaw County, Oklahoma grew by 71.8% from 2009 to 2023, reaching $45,525 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Choctaw County | Gender Pay Gap | Gini Coefficient
| Metric | Choctaw County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.567 | 0.560 | 0.570 |
| Male Median Income | $49,784 | $59,197 | $67,746 |
| Female Median Income | $38,232 | $45,400 | $54,793 |
| Gender Pay Gap | 23.2% | 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 Choctaw County, it is 0.567, higher than Oklahoma's 0.560, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 30% more than women's income in Choctaw County, Oklahoma. Over a 35-year career, a 30% wage gap accumulates to roughly $404,320 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Choctaw County, Oklahoma has narrowed from about 40% to 23% in 2023. In dollar terms, the gap has narrowed by $2,953 since 2009.
Employment
| Metric | Choctaw County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.8% | 5.2% |
| Working from Home | 5.3% | 8.5% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 249 people are unemployed in Choctaw County, Oklahoma.
The average commute time in Choctaw County is 20 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Choctaw County, Oklahoma has fallen from 11.3% to 4.2% in 2023.
Conclusion
Considering all these factors, Choctaw 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 Choctaw County, Oklahoma.
How Rich Is Choctaw County, Oklahoma?
Choctaw 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 $45,525, about 29% lower than the Oklahoma average of $63,953.
What is the current median household income in Choctaw County, Oklahoma?
As of 2023, the median household income in Choctaw County, Oklahoma is $45,525.
What was the median household income in Choctaw County in 2023?
In 2023, the median household income in Choctaw County, Oklahoma was $45,525.
What was the median household income in Choctaw County in 2020?
In 2020, the median household income in Choctaw County, Oklahoma was $37,132.
What is the Gini coefficient in Choctaw County, Oklahoma?
The Gini coefficient in Choctaw County is 0.567. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Choctaw County, Oklahoma?
Since 2009, the income gap between men and women in Choctaw County, Oklahoma has narrowed from about 40% to 23% in 2023. In dollar terms, the gap has narrowed by $2,953 since 2009.