Wealth Index
Wealthier than 70% of 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 | Cleveland County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,799 | $58,772 | $78,145 |
| Median Personal Income | $50,902 | $49,808 | $61,726 |
| Average income growth | 2.7% | 4.7% | 5.1% |
| Six-Figure Earners | 5.0% | 7.6% | 13.2% |
The median household income in Cleveland County is about 14% lower than in Arkansas. Income has been growing slower in Cleveland County (2.7%/yr) than in Arkansas (4.7%/yr).
About 5% of adults in Cleveland 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 Cleveland County, Arkansas grew by 44.9% from 2009 to 2023, reaching $50,799 in 2023. That's an average of about 2.7% per year.
Economic Inequality in Cleveland County | Gender Pay Gap | Gini Coefficient
| Metric | Cleveland County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.556 | 0.570 |
| Male Median Income | $57,789 | $55,368 | $67,746 |
| Female Median Income | $47,133 | $44,548 | $54,793 |
| Gender Pay Gap | 18.4% | 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 Cleveland County, it is 0.570, higher than Arkansas's 0.556, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 23% more than women's income in Cleveland County, Arkansas. Over a 35-year career, a 23% wage gap accumulates to roughly $372,960 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cleveland County, Arkansas has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $2,490 since 2009.
Employment
| Metric | Cleveland County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.3% | 5.1% | 5.2% |
| Working from Home | 5.4% | 7.8% | 13.4% |
| Commute time (minutes) | 30 | 18 | 22 |
Approximately 65 people are unemployed in Cleveland County, Arkansas.
The average commute time in Cleveland County is 30 minutes, longer than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cleveland County, Arkansas has fallen from 9.3% to 2.3% in 2023.
Conclusion
Considering all these factors, Cleveland County, Arkansas has an overall wealth index grade of D, making it about on par with Arkansas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cleveland County, Arkansas.
How Rich Is Cleveland County, Arkansas?
Cleveland 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 $50,799, about 14% lower than the Arkansas average of $58,772.
What is the current median household income in Cleveland County, Arkansas?
As of 2023, the median household income in Cleveland County, Arkansas is $50,799.
What was the median household income in Cleveland County in 2023?
In 2023, the median household income in Cleveland County, Arkansas was $50,799.
What was the median household income in Cleveland County in 2020?
In 2020, the median household income in Cleveland County, Arkansas was $46,079.
What is the Gini coefficient in Cleveland County, Arkansas?
The Gini coefficient in Cleveland County is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Cleveland County, Arkansas?
Since 2009, the income gap between men and women in Cleveland County, Arkansas has narrowed from about 23% to 18% in 2023. In dollar terms, the gap has widened by $2,490 since 2009.