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 | Russellville | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,350 | $58,772 | $78,145 |
| Median Personal Income | $44,780 | $49,808 | $61,726 |
| Average income growth | 5.3% | 4.7% | 5.1% |
| Six-Figure Earners | 5.2% | 7.6% | 13.2% |
The median household income in Russellville is about 14% lower than in Arkansas. Income has been growing faster in Russellville (5.3%/yr) than in Arkansas (4.7%/yr).
About 5% of adults in Russellville 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 Russellville, Arkansas grew by 26.9% from 2009 to 2023, reaching $50,350 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Russellville | Gender Pay Gap | Gini Coefficient
| Metric | Russellville | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.556 | 0.570 |
| Male Median Income | $52,884 | $55,368 | $67,746 |
| Female Median Income | $34,739 | $44,548 | $54,793 |
| Gender Pay Gap | 34.3% | 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 Russellville, it is 0.580, higher than Arkansas's 0.556, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 52% more than women's income in Russellville, Arkansas. Over a 35-year career, a 52% wage gap accumulates to roughly $635,075 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Russellville, Arkansas has widened from about 29% to 34% in 2023. In dollar terms, the gap has widened by $6,687 since 2009.
Employment
| Metric | Russellville | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.1% | 5.2% |
| Working from Home | 4.0% | 7.8% | 13.4% |
| Commute time (minutes) | 12 | 18 | 22 |
Approximately 554 people are unemployed in Russellville, Arkansas.
The average commute time in Russellville is 12 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Russellville, Arkansas has fallen from 8.0% to 4.7% in 2023.
Conclusion
Considering all these factors, Russellville, 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 Russellville, Arkansas.
How Rich Is Russellville, Arkansas?
Russellville 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 $50,350, about 14% lower than the Arkansas average of $58,772.
What is the current median household income in Russellville, Arkansas?
As of 2023, the median household income in Russellville, Arkansas is $50,350.
What was the median household income in Russellville in 2023?
In 2023, the median household income in Russellville, Arkansas was $50,350.
What was the median household income in Russellville in 2020?
In 2020, the median household income in Russellville, Arkansas was $37,906.
What is the Gini coefficient in Russellville, Arkansas?
The Gini coefficient in Russellville is 0.580. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Russellville, Arkansas?
Since 2009, the income gap between men and women in Russellville, Arkansas has widened from about 29% to 34% in 2023. In dollar terms, the gap has widened by $6,687 since 2009.