Wealth Index
Wealthiest county in Arkansas
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 | Benton County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,828 | $58,772 | $78,145 |
| Median Personal Income | $60,514 | $49,808 | $61,726 |
| Average income growth | 6.2% | 4.7% | 5.1% |
| Six-Figure Earners | 14.9% | 7.6% | 13.2% |
The median household income in Benton County is about 53% higher than in Arkansas. Income has been growing faster in Benton County (6.2%/yr) than in Arkansas (4.7%/yr).
About 15% of adults in Benton County earn six figures ($100,000 or more) a year, higher than the Arkansas average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Benton County, Arkansas grew by 78.2% from 2009 to 2023, reaching $89,828 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Benton County | Gender Pay Gap | Gini Coefficient
| Metric | Benton County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.556 | 0.570 |
| Male Median Income | $66,849 | $55,368 | $67,746 |
| Female Median Income | $52,680 | $44,548 | $54,793 |
| Gender Pay Gap | 21.2% | 19.5% | 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 Benton County, it is 0.556, about the same as Arkansas's 0.556, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 27% more than women's income in Benton County, Arkansas. Over a 35-year career, a 27% wage gap accumulates to roughly $495,915 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Benton County, Arkansas has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $5,576 since 2009.
Employment
| Metric | Benton County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 5.1% | 5.2% |
| Working from Home | 14.6% | 7.8% | 13.4% |
| Commute time (minutes) | 18 | 18 | 22 |
Approximately 4,762 people are unemployed in Benton County, Arkansas.
The average commute time in Benton County is 18 minutes, about the same as in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Benton County, Arkansas has fallen from 5.5% to 3.1% in 2023.
Conclusion
Considering all these factors, Benton County, Arkansas has an overall wealth index grade of B, making it somewhat better than Arkansas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Benton County, Arkansas.
How Rich Is Benton County, Arkansas?
Benton 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 $89,828, about 53% higher than the Arkansas average of $58,772.
What is the current median household income in Benton County, Arkansas?
As of 2023, the median household income in Benton County, Arkansas is $89,828.
What was the median household income in Benton County in 2023?
In 2023, the median household income in Benton County, Arkansas was $89,828.
What was the median household income in Benton County in 2020?
In 2020, the median household income in Benton County, Arkansas was $72,490.
What is the Gini coefficient in Benton County, Arkansas?
The Gini coefficient in Benton County is 0.556. 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 Benton County, Arkansas?
The income gap between men and women in Benton County, Arkansas has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $5,576 since 2009.