Richest and Poorest Cities: Arkansas. Where Are Your Good Spots?

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Arkansas is a state in the southern portion of the United States, nestled along the Mississippi River. The Arkansas economy has long been tied to the land's natural resources, but these ties have severed over time due to the globalization of the economy and a changing market. Agriculture, once a hallmark of the Arkansas economy, declined steadily over time, and new things took their place. Since World War II's conclusion, manufacturing and service industries have become more significant within the economy.

Arkansas has one of the poorest economies in the United States, with a median household income of $48,829 in its entirety. Arkansas, unfortunately, also has a poverty rate of 15.6%, one of the highest rates in the U.S. Poverty in Arkansas is mainly contributed to by; a lack of education, lack of skills, insufficient community support, and income inequality.

Demographics within the United States are incredibly important and must be documented in order to discover emerging patterns of wealth. Forbes recently published a study that analyzed thousands of cities within all 50 States and calculated their mean and median household incomes. Using this research, Forbes discovered the richest and poorest cities in each state, including Arkansas. Furthermore, it is important to note that in order to avoid any discrepancies, Forbes only took into account those cities that have over 1000 households.

Richest City: Cave Springs, Arkansas

Cave Springs is located in Benton County, Arkansas, in the far northwestern region of the state. According to the U.S. Census Bureau's 2019 Survey, the population of Cave Springs currently sits at 5,276, up by 172.1% since April 2010 when the last census was completed. The median household income in Cave Springs is $134,740, whilst the mean income is $160,462, and only 1.5% of people in Cave Springs are in poverty.

The unemployment rate within Cave Springs is at 3.4%, which is great compared to the 6.1% (as of April 2021, according to the U.S. Bureau of Labour Statistics) U.S. average. The average income per capita - regardless of gender and age - is $52,876, which is much higher than the national average of $31,133 (in 2019). These excellent statistics are likely due to the fact that the education statistics are also promising in the area. 98.6% of people over 25 years of age are high school graduates or higher, 67.9% of whom are holders of a bachelor's degree or higher.

Health statistics are also excellent too, which likely contributes to the high household incomes, with only 3.7% of people under 65 having a disability and only 0.8% of people without health insurance in Cave Springs.

Poorest City: Ozark, Arkansas

Ozark is a city in Franklin County in the western portion of Arkansas, nestled on the southern edge of their namesake, the Ozark Mountains. The population of Ozark is sitting at 3,610 people, with a median household income of $20,101 which is, unfortunately, one of the lowest medians even among the poorest cities. The mean household income equates to $27,697, also well below the national average of $68,703.

Many things likely contribute to this economic failure, including the age distribution within Ozark. The largest portion of the population is between 35 and 54, which wouldn't be an issue if the next largest portion of the population wasn't people over 65. 22.4% of people within Ozark are over 65, meaning they likely aren't working and aren't contributing to the economy too much. A further 24% of people in Ozark are between 0 and 17 years old, meaning they also do not work or contribute to the economy, for the most part. These statistics mean that half of the population is not 'economically friendly.' Only 9% of residents have graduated college, and 81.9% graduated high school.

We value your opinion. We wish to know your thoughts on these statistics and whether you'd consider living in or visiting these locations. Did any of these statistics shock you? Please, feel free to leave a comment and discuss.

Sources

https://www.britannica.com/place/Arkansas-state/Economy

https://www.businessinsider.com/personal-finance/poorest-states-in-the-us-by-median-household-income-2019-8?r=AU&IR=T#5-arkansas-11

https://www.aradvocates.org/5-things-you-need-to-know-about-poverty-in-arkansas/

https://www.census.gov/quickfacts/cavespringscityarkansas

https://www.bestplaces.net/education/city/arkansas/cave_springs

https://www.google.com/maps/place/Ozark,+AR+72949,+USA/@35.4444424,-93.9392403,11.05z/data=!4m5!3m4!1s0x87cbf3a56021a633:0xff591cf32e0d16f8!8m2!3d35.4870295!4d-93.8276965

https://www.neighborhoodscout.com/ar/ozark/demographics

https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/#:~:text=Household%20income%20distribution%20in%20the%20United%20States%20in%202019&text=In%202019%2C%20a%20little%20more,year%2C%20reaching%2068%2C703%20U.S.%20dollars.

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