Wealth Index
Wealthier than 93% 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 | Faulkner County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,571 | $58,772 | $78,145 |
| Median Personal Income | $50,575 | $49,808 | $61,726 |
| Average income growth | 3.5% | 4.7% | 5.1% |
| Six-Figure Earners | 7.6% | 7.6% | 13.2% |
The median household income in Faulkner County is about 10% higher than in Arkansas. Income has been growing slower in Faulkner County (3.5%/yr) than in Arkansas (4.7%/yr).
About 8% of adults in Faulkner 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 Faulkner County, Arkansas grew by 44.7% from 2009 to 2023, reaching $64,571 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Faulkner County | Gender Pay Gap | Gini Coefficient
| Metric | Faulkner County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.568 | 0.556 | 0.570 |
| Male Median Income | $55,267 | $55,368 | $67,746 |
| Female Median Income | $46,317 | $44,548 | $54,793 |
| Gender Pay Gap | 16.2% | 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 Faulkner County, it is 0.568, 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 19% more than women's income in Faulkner County, Arkansas. Over a 35-year career, a 19% wage gap accumulates to roughly $313,250 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Faulkner County, Arkansas has narrowed from about 27% to 16% in 2023. In dollar terms, the gap has narrowed by $2,686 since 2009.
Employment
| Metric | Faulkner County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 5.1% | 5.2% |
| Working from Home | 6.9% | 7.8% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 2,025 people are unemployed in Faulkner County, Arkansas.
The average commute time in Faulkner County is 20 minutes, longer than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Faulkner County, Arkansas has fallen from 7.5% to 3.3% in 2023.
Conclusion
Considering all these factors, Faulkner 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 Faulkner County, Arkansas.
How Rich Is Faulkner County, Arkansas?
Faulkner 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 $64,571, about 10% higher than the Arkansas average of $58,772.
What is the current median household income in Faulkner County, Arkansas?
As of 2023, the median household income in Faulkner County, Arkansas is $64,571.
What was the median household income in Faulkner County in 2023?
In 2023, the median household income in Faulkner County, Arkansas was $64,571.
What was the median household income in Faulkner County in 2020?
In 2020, the median household income in Faulkner County, Arkansas was $53,642.
What is the Gini coefficient in Faulkner County, Arkansas?
The Gini coefficient in Faulkner County is 0.568. 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 Faulkner County, Arkansas?
Since 2009, the income gap between men and women in Faulkner County, Arkansas has narrowed from about 27% to 16% in 2023. In dollar terms, the gap has narrowed by $2,686 since 2009.