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 | Sherwood | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,977 | $58,772 | $78,145 |
| Median Personal Income | $59,939 | $49,808 | $61,726 |
| Average income growth | 3.8% | 4.7% | 5.1% |
| Six-Figure Earners | 9.9% | 7.6% | 13.2% |
The median household income in Sherwood is about 31% higher than in Arkansas. Income has been growing slower in Sherwood (3.8%/yr) than in Arkansas (4.7%/yr).
About 10% of adults in Sherwood 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 Sherwood, Arkansas grew by 41.1% from 2009 to 2023, reaching $76,977 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Sherwood | Gender Pay Gap | Gini Coefficient
| Metric | Sherwood | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.519 | 0.556 | 0.570 |
| Male Median Income | $66,007 | $55,368 | $67,746 |
| Female Median Income | $54,000 | $44,548 | $54,793 |
| Gender Pay Gap | 18.2% | 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 Sherwood, it is 0.519, 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 22% more than women's income in Sherwood, Arkansas. Over a 35-year career, a 22% wage gap accumulates to roughly $420,245 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sherwood, Arkansas has narrowed from about 27% to 18% in 2023. In dollar terms, the gap has narrowed by $1,743 since 2009.
Employment
| Metric | Sherwood | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 5.1% | 5.2% |
| Working from Home | 11.3% | 7.8% | 13.4% |
| Commute time (minutes) | 21 | 18 | 22 |
Approximately 597 people are unemployed in Sherwood, Arkansas.
The average commute time in Sherwood is 21 minutes, longer than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sherwood, Arkansas has fallen from 4.7% to 4.0% in 2023.
Conclusion
Considering all these factors, Sherwood, Arkansas has an overall wealth index grade of B, making it somewhat better than Arkansas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Sherwood, Arkansas.
How Rich Is Sherwood, Arkansas?
Sherwood has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $76,977, about 31% higher than the Arkansas average of $58,772.
What is the current median household income in Sherwood, Arkansas?
As of 2023, the median household income in Sherwood, Arkansas is $76,977.
What was the median household income in Sherwood in 2023?
In 2023, the median household income in Sherwood, Arkansas was $76,977.
What was the median household income in Sherwood in 2020?
In 2020, the median household income in Sherwood, Arkansas was $63,108.
What is the Gini coefficient in Sherwood, Arkansas?
The Gini coefficient in Sherwood is 0.519. 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 Sherwood, Arkansas?
Since 2009, the income gap between men and women in Sherwood, Arkansas has narrowed from about 27% to 18% in 2023. In dollar terms, the gap has narrowed by $1,743 since 2009.