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 | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,489 | $63,953 | $78,145 |
| Median Personal Income | $50,575 | $52,060 | $61,726 |
| Average income growth | 4.3% | 4.1% | 5.1% |
| Six-Figure Earners | 7.5% | 8.8% | 13.2% |
The median household income in Love County is about 1% lower than in Oklahoma. Income has been growing faster in Love County (4.3%/yr) than in Oklahoma (4.1%/yr).
About 7% of adults in Love 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 Love County, Oklahoma grew by 58.8% from 2009 to 2023, reaching $63,489 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Love County | Gender Pay Gap | Gini Coefficient
| Metric | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.539 | 0.560 | 0.570 |
| Male Median Income | $57,510 | $59,197 | $67,746 |
| Female Median Income | $43,222 | $45,400 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Love County, it is 0.539, 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 33% more than women's income in Love County, Oklahoma. Over a 35-year career, a 33% wage gap accumulates to roughly $500,080 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Love County, Oklahoma has narrowed from about 34% to 25% in 2023. In dollar terms, the gap has widened by $2,011 since 2009.
Employment
| Metric | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.8% | 5.2% |
| Working from Home | 3.5% | 8.5% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 217 people are unemployed in Love County, Oklahoma.
The average commute time in Love County is 20 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Love County, Oklahoma has risen from 2.2% to 4.6% in 2023.
Conclusion
Considering all these factors, Love 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 Love County, Oklahoma.
How Rich Is Love County, Oklahoma?
Love 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 $63,489, about 1% lower than the Oklahoma average of $63,953.
What is the current median household income in Love County, Oklahoma?
As of 2023, the median household income in Love County, Oklahoma is $63,489.
What was the median household income in Love County in 2023?
In 2023, the median household income in Love County, Oklahoma was $63,489.
What was the median household income in Love County in 2020?
In 2020, the median household income in Love County, Oklahoma was $54,507.
What is the Gini coefficient in Love County, Oklahoma?
The Gini coefficient in Love County is 0.539. 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 Love County, Oklahoma?
Since 2009, the income gap between men and women in Love County, Oklahoma has narrowed from about 34% to 25% in 2023. In dollar terms, the gap has widened by $2,011 since 2009.