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 | Cotton County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,120 | $63,953 | $78,145 |
| Median Personal Income | $46,717 | $52,060 | $61,726 |
| Average income growth | 3.2% | 4.1% | 5.1% |
| Six-Figure Earners | 6.9% | 8.8% | 13.2% |
The median household income in Cotton County is about 6% lower than in Oklahoma. Income has been growing slower in Cotton County (3.2%/yr) than in Oklahoma (4.1%/yr).
About 7% of adults in Cotton 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 Cotton County, Oklahoma grew by 46.5% from 2009 to 2023, reaching $60,120 in 2023. That's an average of about 3.2% per year.
Economic Inequality in Cotton County | Gender Pay Gap | Gini Coefficient
| Metric | Cotton County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.561 | 0.560 | 0.570 |
| Male Median Income | $53,999 | $59,197 | $67,746 |
| Female Median Income | $42,768 | $45,400 | $54,793 |
| Gender Pay Gap | 20.8% | 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 Cotton County, it is 0.561, about the same as Oklahoma's 0.560, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 26% more than women's income in Cotton County, Oklahoma. Over a 35-year career, a 26% wage gap accumulates to roughly $393,085 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cotton County, Oklahoma has widened from about 18% to 21% in 2023. In dollar terms, the gap has widened by $4,754 since 2009.
Employment
| Metric | Cotton County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.2% | 4.8% | 5.2% |
| Working from Home | 4.3% | 8.5% | 13.4% |
| Commute time (minutes) | 30 | 18 | 22 |
Approximately 53 people are unemployed in Cotton County, Oklahoma.
The average commute time in Cotton County is 30 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cotton County, Oklahoma has fallen from 4.6% to 2.2% in 2023.
Conclusion
Considering all these factors, Cotton 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 Cotton County, Oklahoma.
How Rich Is Cotton County, Oklahoma?
Cotton 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 $60,120, about 6% lower than the Oklahoma average of $63,953.
What is the current median household income in Cotton County, Oklahoma?
As of 2023, the median household income in Cotton County, Oklahoma is $60,120.
What was the median household income in Cotton County in 2023?
In 2023, the median household income in Cotton County, Oklahoma was $60,120.
What was the median household income in Cotton County in 2020?
In 2020, the median household income in Cotton County, Oklahoma was $49,423.
What is the Gini coefficient in Cotton County, Oklahoma?
The Gini coefficient in Cotton County is 0.561. 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 Cotton County, Oklahoma?
Since 2009, the income gap between men and women in Cotton County, Oklahoma has widened from about 18% to 21% in 2023. In dollar terms, the gap has widened by $4,754 since 2009.