Wealth Index
Less wealthy than 92% 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 | Payne County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,870 | $63,953 | $78,145 |
| Median Personal Income | $49,316 | $52,060 | $61,726 |
| Average income growth | 3.7% | 4.1% | 5.1% |
| Six-Figure Earners | 6.4% | 8.8% | 13.2% |
The median household income in Payne County is about 24% lower than in Oklahoma. Income has been growing slower in Payne County (3.7%/yr) than in Oklahoma (4.1%/yr).
About 6% of adults in Payne 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 Payne County, Oklahoma grew by 43.0% from 2009 to 2023, reaching $48,870 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Payne County | Gender Pay Gap | Gini Coefficient
| Metric | Payne County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.625 | 0.560 | 0.570 |
| Male Median Income | $55,671 | $59,197 | $67,746 |
| Female Median Income | $45,230 | $45,400 | $54,793 |
| Gender Pay Gap | 18.8% | 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 Payne County, it is 0.625, higher than Oklahoma's 0.560, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 23% more than women's income in Payne County, Oklahoma. Over a 35-year career, a 23% wage gap accumulates to roughly $365,435 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Payne County, Oklahoma has stayed about the same since 2009, at around 19%. In dollar terms, the gap has widened by $3,337 since 2009.
Employment
| Metric | Payne County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 4.8% | 5.2% |
| Working from Home | 8.2% | 8.5% | 13.4% |
| Commute time (minutes) | 13 | 18 | 22 |
Approximately 1,737 people are unemployed in Payne County, Oklahoma.
The average commute time in Payne County is 13 minutes, shorter than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Payne County, Oklahoma has fallen from 4.8% to 4.5% in 2023.
Conclusion
Considering all these factors, Payne 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 Payne County, Oklahoma.
How Rich Is Payne County, Oklahoma?
Payne 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 $48,870, about 24% lower than the Oklahoma average of $63,953.
What is the current median household income in Payne County, Oklahoma?
As of 2023, the median household income in Payne County, Oklahoma is $48,870.
What was the median household income in Payne County in 2023?
In 2023, the median household income in Payne County, Oklahoma was $48,870.
What was the median household income in Payne County in 2020?
In 2020, the median household income in Payne County, Oklahoma was $41,971.
What is the Gini coefficient in Payne County, Oklahoma?
The Gini coefficient in Payne County is 0.625. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Payne County, Oklahoma?
The income gap between men and women in Payne County, Oklahoma has stayed about the same since 2009, at around 19%. In dollar terms, the gap has widened by $3,337 since 2009.