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 | North Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,997 | $58,772 | $78,145 |
| Median Personal Income | $47,982 | $49,808 | $61,726 |
| Average income growth | 3.2% | 4.7% | 5.1% |
| Six-Figure Earners | 6.8% | 7.6% | 13.2% |
The median household income in North Little Rock is about 13% lower than in Arkansas. Income has been growing slower in North Little Rock (3.2%/yr) than in Arkansas (4.7%/yr).
About 7% of adults in North Little Rock 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 North Little Rock, Arkansas grew by 33.5% from 2009 to 2023, reaching $50,997 in 2023. That's an average of about 3.2% per year.
Economic Inequality in North Little Rock | Gender Pay Gap | Gini Coefficient
| Metric | North Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.556 | 0.570 |
| Male Median Income | $49,800 | $55,368 | $67,746 |
| Female Median Income | $44,715 | $44,548 | $54,793 |
| Gender Pay Gap | 10.2% | 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 North Little Rock, it is 0.556, 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 11% more than women's income in North Little Rock, Arkansas. Over a 35-year career, a 11% wage gap accumulates to roughly $177,975 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Little Rock, Arkansas has narrowed from about 17% to 10% in 2023. In dollar terms, the gap has narrowed by $1,528 since 2009.
Employment
| Metric | North Little Rock | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 5.1% | 5.2% |
| Working from Home | 7.6% | 7.8% | 13.4% |
| Commute time (minutes) | 18 | 18 | 22 |
Approximately 1,855 people are unemployed in North Little Rock, Arkansas.
The average commute time in North Little Rock is 18 minutes, about the same as in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Little Rock, Arkansas has fallen from 9.3% to 6.2% in 2023.
Conclusion
Considering all these factors, North Little Rock, 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 North Little Rock, Arkansas.
How Rich Is North Little Rock, Arkansas?
North Little Rock 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 $50,997, about 13% lower than the Arkansas average of $58,772.
What is the current median household income in North Little Rock, Arkansas?
As of 2023, the median household income in North Little Rock, Arkansas is $50,997.
What was the median household income in North Little Rock in 2023?
In 2023, the median household income in North Little Rock, Arkansas was $50,997.
What was the median household income in North Little Rock in 2020?
In 2020, the median household income in North Little Rock, Arkansas was $43,466.
What is the Gini coefficient in North Little Rock, Arkansas?
The Gini coefficient in North Little Rock is 0.556. 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 North Little Rock, Arkansas?
Since 2009, the income gap between men and women in North Little Rock, Arkansas has narrowed from about 17% to 10% in 2023. In dollar terms, the gap has narrowed by $1,528 since 2009.