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 | Springdale | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,961 | $58,772 | $78,145 |
| Median Personal Income | $44,642 | $49,808 | $61,726 |
| Average income growth | 5.5% | 4.7% | 5.1% |
| Six-Figure Earners | 7.8% | 7.6% | 13.2% |
The median household income in Springdale is about 12% higher than in Arkansas. Income has been growing faster in Springdale (5.5%/yr) than in Arkansas (4.7%/yr).
About 8% of adults in Springdale earn six figures ($100,000 or more) a year, about the same as the Arkansas average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Springdale, Arkansas grew by 48.7% from 2009 to 2023, reaching $65,961 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Springdale | Gender Pay Gap | Gini Coefficient
| Metric | Springdale | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.547 | 0.556 | 0.570 |
| Male Median Income | $45,706 | $55,368 | $67,746 |
| Female Median Income | $42,819 | $44,548 | $54,793 |
| Gender Pay Gap | 6.3% | 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 Springdale, it is 0.547, 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 7% more than women's income in Springdale, Arkansas. Over a 35-year career, a 7% wage gap accumulates to roughly $101,045 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Springdale, Arkansas has narrowed from about 13% to 6% in 2023. In dollar terms, the gap has narrowed by $1,551 since 2009.
Employment
| Metric | Springdale | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.1% | 5.2% |
| Working from Home | 6.7% | 7.8% | 13.4% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 2,035 people are unemployed in Springdale, Arkansas.
The average commute time in Springdale is 17 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Springdale, Arkansas has fallen from 7.7% to 5.0% in 2023.
Conclusion
Considering all these factors, Springdale, 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 Springdale, Arkansas.
How Rich Is Springdale, Arkansas?
Springdale 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 $65,961, about 12% higher than the Arkansas average of $58,772.
What is the current median household income in Springdale, Arkansas?
As of 2023, the median household income in Springdale, Arkansas is $65,961.
What was the median household income in Springdale in 2023?
In 2023, the median household income in Springdale, Arkansas was $65,961.
What was the median household income in Springdale in 2020?
In 2020, the median household income in Springdale, Arkansas was $53,512.
What is the Gini coefficient in Springdale, Arkansas?
The Gini coefficient in Springdale is 0.547. 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 Springdale, Arkansas?
Since 2009, the income gap between men and women in Springdale, Arkansas has narrowed from about 13% to 6% in 2023. In dollar terms, the gap has narrowed by $1,551 since 2009.