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 | Montgomery County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,645 | $58,772 | $78,145 |
| Median Personal Income | $46,904 | $49,808 | $61,726 |
| Average income growth | 5.0% | 4.7% | 5.1% |
| Six-Figure Earners | 6.0% | 7.6% | 13.2% |
The median household income in Montgomery County is about 17% lower than in Arkansas. Income has been growing faster in Montgomery County (5.0%/yr) than in Arkansas (4.7%/yr).
About 6% of adults in Montgomery 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 Montgomery County, Arkansas grew by 33.2% from 2009 to 2023, reaching $48,645 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Montgomery County | Gender Pay Gap | Gini Coefficient
| Metric | Montgomery County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.556 | 0.570 |
| Male Median Income | $55,806 | $55,368 | $67,746 |
| Female Median Income | $36,847 | $44,548 | $54,793 |
| Gender Pay Gap | 34.0% | 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 Montgomery County, it is 0.545, 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 51% more than women's income in Montgomery County, Arkansas. Over a 35-year career, a 51% wage gap accumulates to roughly $663,565 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Montgomery County, Arkansas has stayed about the same since 2009, at around 34%. In dollar terms, the gap has widened by $7,600 since 2009.
Employment
| Metric | Montgomery County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.0% | 5.1% | 5.2% |
| Working from Home | 4.3% | 7.8% | 13.4% |
| Commute time (minutes) | 30 | 18 | 22 |
Approximately 234 people are unemployed in Montgomery County, Arkansas.
The average commute time in Montgomery County is 30 minutes, longer than the 18 minutes in Arkansas.
Unemployment Rate Over Time
The unemployment rate in Montgomery County, Arkansas has stayed about flat at 7.0% since 2011.
Conclusion
Considering all these factors, Montgomery 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 Montgomery County, Arkansas.
How Rich Is Montgomery County, Arkansas?
Montgomery 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 $48,645, about 17% lower than the Arkansas average of $58,772.
What is the current median household income in Montgomery County, Arkansas?
As of 2023, the median household income in Montgomery County, Arkansas is $48,645.
What was the median household income in Montgomery County in 2023?
In 2023, the median household income in Montgomery County, Arkansas was $48,645.
What was the median household income in Montgomery County in 2020?
In 2020, the median household income in Montgomery County, Arkansas was $41,091.
What is the Gini coefficient in Montgomery County, Arkansas?
The Gini coefficient in Montgomery County is 0.545. 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 Montgomery County, Arkansas?
The income gap between men and women in Montgomery County, Arkansas has stayed about the same since 2009, at around 34%. In dollar terms, the gap has widened by $7,600 since 2009.