by Kristen Carney
Updated: June 20, 2024
The richest city in Oklahoma is Lake Aluma in Oklahoma County with an average household income of $364,848 as of 2022. While exceptionally affluent, Lake Aluma only has a population of 89 as of 2023. The richest city in Oklahoma with at least 5,000 people is Edmond in Oklahoma County with an average household income of $137,340 as of 2022 and 98,103 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Lake Aluma | Oklahoma | 89 | $364,848 | $250,001 |
2 | Nichols Hills | Oklahoma | 3,826 | $340,956 | $194,576 |
3 | Valley Park | Rogers | 20 | $193,600 | -$1 |
4 | Sparrowhawk | Cherokee | 176 | $187,902 | -$1 |
5 | Sand Point | Bryan | 239 | $172,359 | $81,920 |
6 | Byron | Alfalfa | 36 | $170,667 | -$1 |
7 | Carlton Landing | Pittsburg | 116 | $168,900 | $156,875 |
8 | Fallis | Lincoln | 25 | $161,984 | $185,917 |
9 | Limestone | Rogers | 802 | $160,407 | $109,875 |
10 | Bug Tussle | Pittsburg | 181 | $155,496 | $198,162 |
11 | Medicine Park | Comanche | 461 | $149,605 | $111,071 |
12 | Meridian | Logan | 16 | $143,575 | -$1 |
13 | Cedar Valley | Logan | 430 | $143,408 | $123,287 |
14 | Dale | Pottawatomie | 257 | $139,656 | $193,010 |
15 | Edmond | Oklahoma | 98,103 | $137,340 | $96,389 |
16 | Elohim City | Adair | 37 | $134,467 | -$1 |
17 | Hochatown | McCurtain | 266 | $133,473 | $111,500 |
18 | Scipio | Pittsburg | 38 | $130,469 | -$1 |
19 | Jenks | Tulsa | 27,553 | $129,019 | $101,767 |
20 | Bixby | Tulsa; Wagoner | 30,698 | $126,096 | $93,765 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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