Wealth Index
Among the 5 least wealthy states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Arkansas
- Benton County (106% of U.S. avg)
- Saline County (104% of U.S. avg)
- Lonoke County (97% of U.S. avg)
- Lincoln County (59% of U.S. avg)
- Lee County (63% of U.S. avg)
- St. Francis County (67% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Arkansas | US Average |
|---|---|---|
| Median Household Income | $58,772 | $78,145 |
| Median Personal Income | $49,808 | $61,726 |
| Average income growth | 4.7% | 5.1% |
| Six-Figure Earners | 7.6% | 13.2% |
The median household income in Arkansas is about 25% lower than in US. Income has been growing slower in Arkansas (4.7%/yr) than in US (5.1%/yr).
About 8% of adults in Arkansas earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Arkansas grew by 52.3% from 2009 to 2023, reaching $58,772 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Arkansas | Gender Pay Gap | Gini Coefficient
| Metric | Arkansas | US Average |
|---|---|---|
| Gini Coefficient | 0.556 | 0.570 |
| Male Median Income | $55,368 | $67,746 |
| Female Median Income | $44,548 | $54,793 |
| Gender Pay Gap | 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 Arkansas, it is 0.556, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 24% more than women's income in Arkansas. Over a 35-year career, a 24% wage gap accumulates to roughly $378,700 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Arkansas has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $1,739 since 2009.
Employment
| Metric | Arkansas | US Average |
|---|---|---|
| Unemployment Rate | 5.1% | 5.2% |
| Working from Home | 7.8% | 13.4% |
| Commute time (minutes) | 18 | 22 |
Approximately 71,260 people are unemployed in Arkansas.
The average commute time in Arkansas is 18 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Arkansas has fallen from 8.3% to 5.1% in 2023.
Conclusion
Considering all these factors, Arkansas has an overall wealth index grade of D, making it somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Arkansas.
How Wealthy Is Arkansas?
Arkansas 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 $58,772, about 25% lower than the US average of $78,145.
What is the current median household income in Arkansas?
As of 2023, the median household income in Arkansas is $58,772.
What was the median household income in Arkansas in 2023?
In 2023, the median household income in Arkansas was $58,772.
What was the median household income in Arkansas in 2020?
In 2020, the median household income in Arkansas was $49,494.
What is the Gini coefficient in Arkansas?
The Gini coefficient in Arkansas is 0.556. 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 Arkansas?
Since 2009, the income gap between men and women in Arkansas has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $1,739 since 2009.