Wealth Index
Less wealthy than 80% 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 | Latimer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $41,274 | $63,953 | $78,145 |
| Median Personal Income | $41,908 | $52,060 | $61,726 |
| Average income growth | 0.7% | 4.1% | 5.1% |
| Six-Figure Earners | 4.0% | 8.8% | 13.2% |
The median household income in Latimer County is about 35% lower than in Oklahoma. Income has been growing slower in Latimer County (0.7%/yr) than in Oklahoma (4.1%/yr).
About 4% of adults in Latimer 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 Latimer County, Oklahoma grew by 1.8% from 2009 to 2023, reaching $41,274 in 2023. That's an average of about 0.7% per year.
Economic Inequality in Latimer County | Gender Pay Gap | Gini Coefficient
| Metric | Latimer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.560 | 0.570 |
| Male Median Income | $44,225 | $59,197 | $67,746 |
| Female Median Income | $38,872 | $45,400 | $54,793 |
| Gender Pay Gap | 12.1% | 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 Latimer County, it is 0.573, 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 14% more than women's income in Latimer County, Oklahoma. Over a 35-year career, a 14% wage gap accumulates to roughly $187,355 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Latimer County, Oklahoma has narrowed from about 36% to 12% in 2023. In dollar terms, the gap has narrowed by $8,120 since 2009.
Employment
| Metric | Latimer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.3% | 4.8% | 5.2% |
| Working from Home | 3.4% | 8.5% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 267 people are unemployed in Latimer County, Oklahoma.
The average commute time in Latimer County is 17 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Latimer County, Oklahoma has risen from 6.8% to 7.3% in 2023.
Conclusion
Considering all these factors, Latimer 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 Latimer County, Oklahoma.
How Rich Is Latimer County, Oklahoma?
Latimer 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 $41,274, about 35% lower than the Oklahoma average of $63,953.
What is the current median household income in Latimer County, Oklahoma?
As of 2023, the median household income in Latimer County, Oklahoma is $41,274.
What was the median household income in Latimer County in 2023?
In 2023, the median household income in Latimer County, Oklahoma was $41,274.
What was the median household income in Latimer County in 2020?
In 2020, the median household income in Latimer County, Oklahoma was $40,065.
What is the Gini coefficient in Latimer County, Oklahoma?
The Gini coefficient in Latimer County is 0.573. 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 Latimer County, Oklahoma?
Since 2009, the income gap between men and women in Latimer County, Oklahoma has narrowed from about 36% to 12% in 2023. In dollar terms, the gap has narrowed by $8,120 since 2009.