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 | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,839 | $63,953 | $78,145 |
| Median Personal Income | $50,091 | $52,060 | $61,726 |
| Average income growth | 3.9% | 4.1% | 5.1% |
| Six-Figure Earners | 7.7% | 8.8% | 13.2% |
The median household income in Washita County is about the same as in Oklahoma. Income has been growing slower in Washita County (3.9%/yr) than in Oklahoma (4.1%/yr).
About 8% of adults in Washita 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 Washita County, Oklahoma grew by 53.1% from 2009 to 2023, reaching $63,839 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Washita County | Gender Pay Gap | Gini Coefficient
| Metric | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.544 | 0.560 | 0.570 |
| Male Median Income | $56,697 | $59,197 | $67,746 |
| Female Median Income | $41,695 | $45,400 | $54,793 |
| Gender Pay Gap | 26.5% | 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 Washita County, it is 0.544, 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 Washita County, Oklahoma. Over a 35-year career, a 36% wage gap accumulates to roughly $525,070 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Washita County, Oklahoma has narrowed from about 30% to 26% in 2023. In dollar terms, the gap has widened by $2,531 since 2009.
Employment
| Metric | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 4.8% | 5.2% |
| Working from Home | 6.4% | 8.5% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 303 people are unemployed in Washita County, Oklahoma.
The average commute time in Washita County is 20 minutes, longer than the 18 minutes in Oklahoma.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Washita County, Oklahoma has risen from 4.0% to 6.1% in 2023.
Conclusion
Considering all these factors, Washita County, Oklahoma has an overall wealth index grade of C, making it about on par with Oklahoma, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Washita County, Oklahoma.
How Rich Is Washita County, Oklahoma?
Washita 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 $63,839, close to the Oklahoma average of $63,953.
What is the current median household income in Washita County, Oklahoma?
As of 2023, the median household income in Washita County, Oklahoma is $63,839.
What was the median household income in Washita County in 2023?
In 2023, the median household income in Washita County, Oklahoma was $63,839.
What was the median household income in Washita County in 2020?
In 2020, the median household income in Washita County, Oklahoma was $54,604.
What is the Gini coefficient in Washita County, Oklahoma?
The Gini coefficient in Washita County is 0.544. 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 Washita County, Oklahoma?
Since 2009, the income gap between men and women in Washita County, Oklahoma has narrowed from about 30% to 26% in 2023. In dollar terms, the gap has widened by $2,531 since 2009.