Real Median Household Income in Arkansas
MEHOINUSARA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,250.00
Year-over-Year Change
16.59%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Arkansas measures the inflation-adjusted median income for households in the state. It is a key indicator of economic well-being and purchasing power for Arkansas residents.
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
This metric represents the midpoint of the income distribution in Arkansas, with half of households earning more and half earning less. Economists and policymakers use it to assess the financial health and standard of living within the state.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Changes in real median household income can inform policy decisions related to taxation, social programs, and economic development initiatives in Arkansas.
Key Facts
- Arkansas's real median household income was $51,079 in 2021.
- Median income in Arkansas is lower than the national average.
- Incomes have increased by 7.8% in Arkansas since 2016.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Arkansas measures the inflation-adjusted midpoint of the income distribution within the state, indicating the financial well-being of typical households.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the standard of living and purchasing power for Arkansas residents, informing economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Changes in real median household income can inform policy decisions related to taxation, social programs, and economic development initiatives in Arkansas.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture rapid or localized changes in household incomes.
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Citation
U.S. Federal Reserve, Real Median Household Income in Arkansas (MEHOINUSARA672N), retrieved from FRED.