Wealth Index
Among the top 3 wealthiest 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 | McClain County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $83,874 | $63,953 | $78,145 |
| Median Personal Income | $60,606 | $52,060 | $61,726 |
| Average income growth | 5.2% | 4.1% | 5.1% |
| Six-Figure Earners | 11.7% | 8.8% | 13.2% |
The median household income in McClain County is about 31% higher than in Oklahoma. Income has been growing faster in McClain County (5.2%/yr) than in Oklahoma (4.1%/yr).
About 12% of adults in McClain County earn six figures ($100,000 or more) a year, higher than the Oklahoma average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in McClain County, Oklahoma grew by 58.5% from 2009 to 2023, reaching $83,874 in 2023. That's an average of about 5.2% per year.
Economic Inequality in McClain County | Gender Pay Gap | Gini Coefficient
| Metric | McClain County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.551 | 0.560 | 0.570 |
| Male Median Income | $69,364 | $59,197 | $67,746 |
| Female Median Income | $50,845 | $45,400 | $54,793 |
| Gender Pay Gap | 26.7% | 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 McClain County, it is 0.551, 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 36% more than women's income in McClain County, Oklahoma. Over a 35-year career, a 36% wage gap accumulates to roughly $648,165 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McClain County, Oklahoma has widened from about 18% to 27% in 2023. In dollar terms, the gap has widened by $10,764 since 2009.
Employment
| Metric | McClain County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.8% | 5.2% |
| Working from Home | 9.3% | 8.5% | 13.4% |
| Commute time (minutes) | 27 | 18 | 22 |
Approximately 1,011 people are unemployed in McClain County, Oklahoma.
The average commute time in McClain County is 27 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McClain County, Oklahoma has risen from 4.4% to 4.6% in 2023.
Conclusion
Considering all these factors, McClain County, Oklahoma has an overall wealth index grade of B, making it somewhat better than Oklahoma, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in McClain County, Oklahoma.
How Rich Is McClain County, Oklahoma?
McClain County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $83,874, about 31% higher than the Oklahoma average of $63,953.
What is the current median household income in McClain County, Oklahoma?
As of 2023, the median household income in McClain County, Oklahoma is $83,874.
What was the median household income in McClain County in 2023?
In 2023, the median household income in McClain County, Oklahoma was $83,874.
What was the median household income in McClain County in 2020?
In 2020, the median household income in McClain County, Oklahoma was $69,812.
What is the Gini coefficient in McClain County, Oklahoma?
The Gini coefficient in McClain County is 0.551. 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 McClain County, Oklahoma?
Since 2009, the income gap between men and women in McClain County, Oklahoma has widened from about 18% to 27% in 2023. In dollar terms, the gap has widened by $10,764 since 2009.