Wealth Index
Among the 5 least wealthy counties 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 | Chicot County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $39,802 | $58,772 | $78,145 |
| Median Personal Income | $44,512 | $49,808 | $61,726 |
| Average income growth | 4.4% | 4.7% | 5.1% |
| Six-Figure Earners | 4.5% | 7.6% | 13.2% |
The median household income in Chicot County is about 32% lower than in Arkansas. Income has been growing slower in Chicot County (4.4%/yr) than in Arkansas (4.7%/yr).
About 5% of adults in Chicot County earn six figures ($100,000 or more) a year, lower than the Arkansas average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Chicot County, Arkansas grew by 92.6% from 2009 to 2023, reaching $39,802 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Chicot County | Gender Pay Gap | Gini Coefficient
| Metric | Chicot County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.603 | 0.556 | 0.570 |
| Male Median Income | $48,801 | $55,368 | $67,746 |
| Female Median Income | $40,184 | $44,548 | $54,793 |
| Gender Pay Gap | 17.7% | 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 Chicot County, it is 0.603, higher than Arkansas's 0.556, 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 21% more than women's income in Chicot County, Arkansas. Over a 35-year career, a 21% wage gap accumulates to roughly $301,595 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chicot County, Arkansas has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $213 since 2009.
Employment
| Metric | Chicot County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.5% | 5.1% | 5.2% |
| Working from Home | 4.0% | 7.8% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 313 people are unemployed in Chicot County, Arkansas.
The average commute time in Chicot County is 20 minutes, longer than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chicot County, Arkansas has fallen from 10.7% to 8.5% in 2023.
Conclusion
Considering all these factors, Chicot County, Arkansas has an overall wealth index grade of F, making it somewhat worse than Arkansas, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chicot County, Arkansas.
How Rich Is Chicot County, Arkansas?
Chicot County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $39,802, about 32% lower than the Arkansas average of $58,772.
What is the current median household income in Chicot County, Arkansas?
As of 2023, the median household income in Chicot County, Arkansas is $39,802.
What was the median household income in Chicot County in 2023?
In 2023, the median household income in Chicot County, Arkansas was $39,802.
What was the median household income in Chicot County in 2020?
In 2020, the median household income in Chicot County, Arkansas was $33,735.
What is the Gini coefficient in Chicot County, Arkansas?
The Gini coefficient in Chicot County is 0.603. 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 Chicot County, Arkansas?
Since 2009, the income gap between men and women in Chicot County, Arkansas has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $213 since 2009.