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 | Harmon County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,592 | $63,953 | $78,145 |
| Median Personal Income | $43,777 | $52,060 | $61,726 |
| Average income growth | 5.8% | 4.1% | 5.1% |
| Six-Figure Earners | 8.1% | 8.8% | 13.2% |
The median household income in Harmon County is about 18% lower than in Oklahoma. Income has been growing faster in Harmon County (5.8%/yr) than in Oklahoma (4.1%/yr).
About 8% of adults in Harmon 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 Harmon County, Oklahoma grew by 69.1% from 2009 to 2023, reaching $52,592 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Harmon County | Gender Pay Gap | Gini Coefficient
| Metric | Harmon County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.560 | 0.570 |
| Male Median Income | $58,067 | $59,197 | $67,746 |
| Female Median Income | $33,361 | $45,400 | $54,793 |
| Gender Pay Gap | 42.5% | 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 Harmon County, it is 0.555, 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 74% more than women's income in Harmon County, Oklahoma. Over a 35-year career, a 74% wage gap accumulates to roughly $864,710 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Harmon County, Oklahoma has widened from about 25% to 43% in 2023. In dollar terms, the gap has widened by $17,031 since 2009.
Employment
| Metric | Harmon County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.7% | 4.8% | 5.2% |
| Working from Home | 9.0% | 8.5% | 13.4% |
| Commute time (minutes) | 12 | 18 | 22 |
Approximately 111 people are unemployed in Harmon County, Oklahoma.
The average commute time in Harmon County is 12 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Harmon County, Oklahoma has risen from 3.8% to 9.7% in 2023.
Conclusion
Considering all these factors, Harmon County, Oklahoma has an overall wealth index grade of C, making it about on par with Oklahoma, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Harmon County, Oklahoma.
How Rich Is Harmon County, Oklahoma?
Harmon 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 $52,592, about 18% lower than the Oklahoma average of $63,953.
What is the current median household income in Harmon County, Oklahoma?
As of 2023, the median household income in Harmon County, Oklahoma is $52,592.
What was the median household income in Harmon County in 2023?
In 2023, the median household income in Harmon County, Oklahoma was $52,592.
What was the median household income in Harmon County in 2020?
In 2020, the median household income in Harmon County, Oklahoma was $53,345.
What is the Gini coefficient in Harmon County, Oklahoma?
The Gini coefficient in Harmon County is 0.555. 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 Harmon County, Oklahoma?
Since 2009, the income gap between men and women in Harmon County, Oklahoma has widened from about 25% to 43% in 2023. In dollar terms, the gap has widened by $17,031 since 2009.