Wealth Index
Wealthier than 91% 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 | Major County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,094 | $63,953 | $78,145 |
| Median Personal Income | $51,491 | $52,060 | $61,726 |
| Average income growth | 3.7% | 4.1% | 5.1% |
| Six-Figure Earners | 8.9% | 8.8% | 13.2% |
The median household income in Major County is about 6% higher than in Oklahoma. Income has been growing slower in Major County (3.7%/yr) than in Oklahoma (4.1%/yr).
About 9% of adults in Major County earn six figures ($100,000 or more) a year, about the same as the Oklahoma average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Major County, Oklahoma grew by 57.0% from 2009 to 2023, reaching $68,094 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Major County | Gender Pay Gap | Gini Coefficient
| Metric | Major County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.560 | 0.570 |
| Male Median Income | $61,738 | $59,197 | $67,746 |
| Female Median Income | $41,105 | $45,400 | $54,793 |
| Gender Pay Gap | 33.4% | 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 Major County, it is 0.552, 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 50% more than women's income in Major County, Oklahoma. Over a 35-year career, a 50% wage gap accumulates to roughly $722,155 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Major County, Oklahoma has narrowed from about 37% to 33% in 2023. In dollar terms, the gap has widened by $4,781 since 2009.
Employment
| Metric | Major County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.9% | 4.8% | 5.2% |
| Working from Home | 2.6% | 8.5% | 13.4% |
| Commute time (minutes) | 21 | 18 | 22 |
Approximately 65 people are unemployed in Major County, Oklahoma.
The average commute time in Major County is 21 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Major County, Oklahoma has fallen from 2.4% to 1.9% in 2023.
Conclusion
Considering all these factors, Major 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 Major County, Oklahoma.
How Rich Is Major County, Oklahoma?
Major 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 $68,094, about 6% higher than the Oklahoma average of $63,953.
What is the current median household income in Major County, Oklahoma?
As of 2023, the median household income in Major County, Oklahoma is $68,094.
What was the median household income in Major County in 2023?
In 2023, the median household income in Major County, Oklahoma was $68,094.
What was the median household income in Major County in 2020?
In 2020, the median household income in Major County, Oklahoma was $57,074.
What is the Gini coefficient in Major County, Oklahoma?
The Gini coefficient in Major County is 0.552. 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 Major County, Oklahoma?
Since 2009, the income gap between men and women in Major County, Oklahoma has narrowed from about 37% to 33% in 2023. In dollar terms, the gap has widened by $4,781 since 2009.