Wealth Index
Wealthier than 79% 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 | Garfield County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,907 | $63,953 | $78,145 |
| Median Personal Income | $50,381 | $52,060 | $61,726 |
| Average income growth | 4.4% | 4.1% | 5.1% |
| Six-Figure Earners | 8.0% | 8.8% | 13.2% |
The median household income in Garfield County is about 5% higher than in Oklahoma. Income has been growing faster in Garfield County (4.4%/yr) than in Oklahoma (4.1%/yr).
About 8% of adults in Garfield 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 Garfield County, Oklahoma grew by 64.0% from 2009 to 2023, reaching $66,907 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Garfield County | Gender Pay Gap | Gini Coefficient
| Metric | Garfield County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.542 | 0.560 | 0.570 |
| Male Median Income | $60,317 | $59,197 | $67,746 |
| Female Median Income | $41,016 | $45,400 | $54,793 |
| Gender Pay Gap | 32.0% | 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 Garfield County, it is 0.542, 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 47% more than women's income in Garfield County, Oklahoma. Over a 35-year career, a 47% wage gap accumulates to roughly $675,535 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Garfield County, Oklahoma has stayed about the same since 2009, at around 32%. In dollar terms, the gap has widened by $6,352 since 2009.
Employment
| Metric | Garfield County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.8% | 5.2% |
| Working from Home | 4.2% | 8.5% | 13.4% |
| Commute time (minutes) | 13 | 18 | 22 |
Approximately 1,250 people are unemployed in Garfield County, Oklahoma.
The average commute time in Garfield County is 13 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Garfield County, Oklahoma has fallen from 5.5% to 4.0% in 2023.
Conclusion
Considering all these factors, Garfield County, Oklahoma has an overall wealth index grade of C, making it somewhat better than Oklahoma, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Garfield County, Oklahoma.
How Rich Is Garfield County, Oklahoma?
Garfield County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $66,907, about 5% higher than the Oklahoma average of $63,953.
What is the current median household income in Garfield County, Oklahoma?
As of 2023, the median household income in Garfield County, Oklahoma is $66,907.
What was the median household income in Garfield County in 2023?
In 2023, the median household income in Garfield County, Oklahoma was $66,907.
What was the median household income in Garfield County in 2020?
In 2020, the median household income in Garfield County, Oklahoma was $55,794.
What is the Gini coefficient in Garfield County, Oklahoma?
The Gini coefficient in Garfield County is 0.542. 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 Garfield County, Oklahoma?
The income gap between men and women in Garfield County, Oklahoma has stayed about the same since 2009, at around 32%. In dollar terms, the gap has widened by $6,352 since 2009.