Wealth Index
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 | Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,705 | $58,772 | $78,145 |
| Median Personal Income | $55,227 | $49,808 | $61,726 |
| Average income growth | 3.9% | 4.7% | 5.1% |
| Six-Figure Earners | 12.0% | 7.6% | 13.2% |
The median household income in Little Rock is about 2% higher than in Arkansas. Income has been growing slower in Little Rock (3.9%/yr) than in Arkansas (4.7%/yr).
About 12% of adults in Little Rock 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 Little Rock, Arkansas grew by 41.4% from 2009 to 2023, reaching $59,705 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Little Rock | Gender Pay Gap | Gini Coefficient
| Metric | Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.557 | 0.556 | 0.570 |
| Male Median Income | $59,548 | $55,368 | $67,746 |
| Female Median Income | $51,474 | $44,548 | $54,793 |
| Gender Pay Gap | 13.6% | 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 Little Rock, it is 0.557, 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 16% more than women's income in Little Rock, Arkansas. Over a 35-year career, a 16% wage gap accumulates to roughly $282,590 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Little Rock, Arkansas has narrowed from about 19% to 14% in 2023. In dollar terms, the gap has widened by $267 since 2009.
Employment
| Metric | Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 5.1% | 5.2% |
| Working from Home | 10.5% | 7.8% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 4,199 people are unemployed in Little Rock, Arkansas.
The average commute time in Little Rock is 17 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Little Rock, Arkansas has fallen from 9.0% to 4.4% in 2023.
Conclusion
Considering all these factors, Little Rock, 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 Little Rock, Arkansas.
How Rich Is Little Rock, Arkansas?
Little Rock 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 $59,705, about 2% higher than the Arkansas average of $58,772.
What is the current median household income in Little Rock, Arkansas?
As of 2023, the median household income in Little Rock, Arkansas is $59,705.
What was the median household income in Little Rock in 2023?
In 2023, the median household income in Little Rock, Arkansas was $59,705.
What was the median household income in Little Rock in 2020?
In 2020, the median household income in Little Rock, Arkansas was $53,025.
What is the Gini coefficient in Little Rock, Arkansas?
The Gini coefficient in Little Rock is 0.557. 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 Little Rock, Arkansas?
Since 2009, the income gap between men and women in Little Rock, Arkansas has narrowed from about 19% to 14% in 2023. In dollar terms, the gap has widened by $267 since 2009.