Wealth Index
Wealthier than 91% 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 | Craighead County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,086 | $58,772 | $78,145 |
| Median Personal Income | $49,178 | $49,808 | $61,726 |
| Average income growth | 3.8% | 4.7% | 5.1% |
| Six-Figure Earners | 7.7% | 7.6% | 13.2% |
The median household income in Craighead County is about 3% lower than in Arkansas. Income has been growing slower in Craighead County (3.8%/yr) than in Arkansas (4.7%/yr).
About 8% of adults in Craighead County earn six figures ($100,000 or more) a year, about the same as the Arkansas average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Craighead County, Arkansas grew by 44.5% from 2009 to 2023, reaching $57,086 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Craighead County | Gender Pay Gap | Gini Coefficient
| Metric | Craighead County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.556 | 0.570 |
| Male Median Income | $54,347 | $55,368 | $67,746 |
| Female Median Income | $46,201 | $44,548 | $54,793 |
| Gender Pay Gap | 15.0% | 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 Craighead County, it is 0.538, lower than Arkansas's 0.556, 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 18% more than women's income in Craighead County, Arkansas. Over a 35-year career, a 18% wage gap accumulates to roughly $285,110 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Craighead County, Arkansas has narrowed from about 20% to 15% in 2023. In dollar terms, the gap has widened by $1,012 since 2009.
Employment
| Metric | Craighead County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 5.1% | 5.2% |
| Working from Home | 5.8% | 7.8% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 3,267 people are unemployed in Craighead County, Arkansas.
The average commute time in Craighead County is 17 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Craighead County, Arkansas has fallen from 8.7% to 6.0% in 2023.
Conclusion
Considering all these factors, Craighead County, Arkansas has an overall wealth index grade of C, making it somewhat better than Arkansas, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Craighead County, Arkansas.
How Rich Is Craighead County, Arkansas?
Craighead 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 $57,086, about 3% lower than the Arkansas average of $58,772.
What is the current median household income in Craighead County, Arkansas?
As of 2023, the median household income in Craighead County, Arkansas is $57,086.
What was the median household income in Craighead County in 2023?
In 2023, the median household income in Craighead County, Arkansas was $57,086.
What was the median household income in Craighead County in 2020?
In 2020, the median household income in Craighead County, Arkansas was $49,764.
What is the Gini coefficient in Craighead County, Arkansas?
The Gini coefficient in Craighead County is 0.538. 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 Craighead County, Arkansas?
Since 2009, the income gap between men and women in Craighead County, Arkansas has narrowed from about 20% to 15% in 2023. In dollar terms, the gap has widened by $1,012 since 2009.