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 | Texarkana | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $43,881 | $58,772 | $78,145 |
| Median Personal Income | $44,587 | $49,808 | $61,726 |
| Average income growth | 3.1% | 4.7% | 5.1% |
| Six-Figure Earners | 3.7% | 7.6% | 13.2% |
The median household income in Texarkana is about 25% lower than in Arkansas. Income has been growing slower in Texarkana (3.1%/yr) than in Arkansas (4.7%/yr).
About 4% of adults in Texarkana 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 Texarkana, Arkansas grew by 27.3% from 2009 to 2023, reaching $43,881 in 2023. That's an average of about 3.1% per year.
Economic Inequality in Texarkana | Gender Pay Gap | Gini Coefficient
| Metric | Texarkana | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.556 | 0.570 |
| Male Median Income | $50,398 | $55,368 | $67,746 |
| Female Median Income | $39,107 | $44,548 | $54,793 |
| Gender Pay Gap | 22.4% | 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 Texarkana, it is 0.574, higher than Arkansas's 0.556, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 29% more than women's income in Texarkana, Arkansas. Over a 35-year career, a 29% wage gap accumulates to roughly $395,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Texarkana, Arkansas has narrowed from about 34% to 22% in 2023. In dollar terms, the gap has narrowed by $2,054 since 2009.
Employment
| Metric | Texarkana | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.0% | 5.1% | 5.2% |
| Working from Home | 3.6% | 7.8% | 13.4% |
| Commute time (minutes) | 15 | 18 | 22 |
Approximately 934 people are unemployed in Texarkana, Arkansas.
The average commute time in Texarkana is 15 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Texarkana, Arkansas has fallen from 10.2% to 8.0% in 2023.
Conclusion
Considering all these factors, Texarkana, Arkansas has an overall wealth index grade of D, making it somewhat worse than Arkansas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Texarkana, Arkansas.
How Rich Is Texarkana, Arkansas?
Texarkana 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 $43,881, about 25% lower than the Arkansas average of $58,772.
What is the current median household income in Texarkana, Arkansas?
As of 2023, the median household income in Texarkana, Arkansas is $43,881.
What was the median household income in Texarkana in 2023?
In 2023, the median household income in Texarkana, Arkansas was $43,881.
What was the median household income in Texarkana in 2020?
In 2020, the median household income in Texarkana, Arkansas was $38,995.
What is the Gini coefficient in Texarkana, Arkansas?
The Gini coefficient in Texarkana is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Texarkana, Arkansas?
Since 2009, the income gap between men and women in Texarkana, Arkansas has narrowed from about 34% to 22% in 2023. In dollar terms, the gap has narrowed by $2,054 since 2009.