Wealth Index
Wealthier than 88% of counties in Arkansas
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 | Union County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,250 | $58,772 | $78,145 |
| Median Personal Income | $50,865 | $49,808 | $61,726 |
| Average income growth | 3.4% | 4.7% | 5.1% |
| Six-Figure Earners | 8.1% | 7.6% | 13.2% |
The median household income in Union County is about 14% lower than in Arkansas. Income has been growing slower in Union County (3.4%/yr) than in Arkansas (4.7%/yr).
About 8% of adults in Union County 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 Union County, Arkansas grew by 40.6% from 2009 to 2023, reaching $50,250 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Union County | Gender Pay Gap | Gini Coefficient
| Metric | Union County | Arkansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.556 | 0.570 |
| Male Median Income | $63,788 | $55,368 | $67,746 |
| Female Median Income | $39,801 | $44,548 | $54,793 |
| Gender Pay Gap | 37.6% | 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 Union County, it is 0.570, 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 60% more than women's income in Union County, Arkansas. Over a 35-year career, a 60% wage gap accumulates to roughly $839,545 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Union County, Arkansas has stayed about the same since 2009, at around 38%. In dollar terms, the gap has widened by $7,723 since 2009.
Employment
| Metric | Union County | Arkansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 5.1% | 5.2% |
| Working from Home | 6.1% | 7.8% | 13.4% |
| Commute time (minutes) | 16 | 18 | 22 |
Approximately 741 people are unemployed in Union County, Arkansas.
The average commute time in Union County is 16 minutes, shorter than the 18 minutes in Arkansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Union County, Arkansas has fallen from 8.7% to 4.4% in 2023.
Conclusion
Considering all these factors, Union County, Arkansas has an overall wealth index grade of D, making it somewhat better than Arkansas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Union County, Arkansas.
How Wealthy Is Union County, Arkansas?
Union County 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 $50,250, about 14% lower than the Arkansas average of $58,772.
What is the current median household income in Union County, Arkansas?
As of 2023, the median household income in Union County, Arkansas is $50,250.
What was the median household income in Union County in 2023?
In 2023, the median household income in Union County, Arkansas was $50,250.
What was the median household income in Union County in 2020?
In 2020, the median household income in Union County, Arkansas was $45,268.
What is the Gini coefficient in Union County, Arkansas?
The Gini coefficient in Union County is 0.570. 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 Union County, Arkansas?
The income gap between men and women in Union County, Arkansas has stayed about the same since 2009, at around 38%. In dollar terms, the gap has widened by $7,723 since 2009.