Estimate of Median Household Income for Arkansas
MHIAR05000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,748.00
Year-over-Year Change
51.07%
Date Range
1/1/1989 - 1/1/2023
Summary
The Estimate of Median Household Income for Arkansas tracks the median income level of households in the state. This key economic indicator is used to analyze trends in living standards and purchasing power.
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 Estimate of Median Household Income for Arkansas represents the midpoint of the income distribution for all households in the state. It is a widely referenced metric for assessing economic well-being and cost of living at the state level.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Policymakers and economists monitor this trend to gauge the financial health of Arkansas residents and inform decisions around social programs, taxation, and economic development.
Key Facts
- Arkansas median household income was $47,597 in 2021.
- Median income in Arkansas is lower than the national average.
- Income levels vary significantly by region within the state.
FAQs
Q: What does this economic trend measure?
A: The Estimate of Median Household Income for Arkansas tracks the midpoint of the income distribution for all households in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and purchasing power for Arkansas residents, informing policy decisions and economic analysis.
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: Policymakers and economists monitor this trend to gauge the financial health of Arkansas residents and inform decisions around social programs, taxation, and economic development.
Q: Are there update delays or limitations?
A: The American Community Survey data is published annually, with a delay of approximately one year.
Related Trends
Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Arkansas
ARNATRESMINQGSP
Number of Identified Exporters to Greece from Arkansas
ARGRCA475SCEN
Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas
ARMINQQGSP
Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Arkansas
ARPROBUSQGSP
Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Arkansas
ARWPMANQGSP
Number of Identified Exporters to Slovakia from Arkansas
ARSVKA475SCEN
Citation
U.S. Federal Reserve, Estimate of Median Household Income for Arkansas (MHIAR05000A052NCEN), retrieved from FRED.