Median Household Income in Arkansas
MEHOINUSARA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,250.00
Year-over-Year Change
53.15%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Arkansas measures the midpoint income level for Arkansas households. It is a key indicator of economic well-being and a critical data point for policymakers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Median Household Income in Arkansas represents the income level at which half of Arkansas households earn more and half earn less. It provides insight into the overall standard of living and purchasing power in the state.
Methodology
The data is collected through the U.S. Census Bureau's annual household surveys.
Historical Context
Median household income trends are closely watched by economists, policymakers, and market analysts.
Key Facts
- Arkansas's median household income was $51,218 in 2021.
- Median incomes in Arkansas lag the national average by around $10,000.
- Household incomes have risen steadily in Arkansas over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Arkansas measures the midpoint income level for households in the state. It represents the income at which half of Arkansas households earn more and half earn less.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key indicator of economic well-being and purchasing power in a state. Tracking this trend provides important insights into the overall standard of living and can inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual household surveys.
Q: How is this trend used in economic policy?
A: Median household income trends are closely monitored by economists, policymakers, and market analysts to assess the economic conditions and purchasing power of households within a state.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, so the most recent figures may not reflect the current economic climate.
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Other Services (Except Public Administration) Wages and Salaries in Arkansas
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Citation
U.S. Federal Reserve, Median Household Income in Arkansas (MEHOINUSARA646N), retrieved from FRED.