Age of householder
Per the latest American Community Survey by the Census Bureau, Forrest City sees its highest median household income among householders in the age group of 25 to 44 years old, at $44,678. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Forrest City, householders within the 25 to 44 years age group have the highest median household income at $44,678, followed by those in the 65 years and over age group with an income of $30,471. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $26,983. Notably, householders within the under 25 years age group, had the lowest median household income at $25,896.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $14,234(122.05%), escalating from a median of $11,662 in 2011 to $25,896 in 2021.
- 164(4.12%) households where the householder is under 25 years old.
- 1,759(44.16%) households with a householder aged between 25 and 44 years.
- 1,254(31.48%) households with a householder aged between 45 and 64 years.
- 806(20.24%) households where the householder is over 65 years old.
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Gender
In Forrest City, the population consists of 7,890 males (59.00%) and 5,482 females (41.00%). Here are the primary highlights from the gender-based income distribution analysis:
- In Forrest City, the median income for all workers aged 15 years and older, regardless of work hours, was $22,552 for males and $19,176 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $35,918 for males and $31,959 for females.
- In Forrest City, the median income for all workers aged 15 years and older, regardless of work hours, was $22,552 for males and $19,176 for females.
- In Forrest City, among full-time, year-round workers aged 15 years and older, males earned a median income of $35,918, while females earned $31,959, resulting in a 11% gender pay gap among full-time workers. This illustrates that women earn 89 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the city of Forrest City.
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Race
In Forrest City, the population is predominantly Black or African American, constituting 71.50% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $31,138.
- In Forrest City, despite the Black or African American population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $47,167. This reveals that, while Black or African Americans may be the most numerous in Forrest City, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Forrest City, the median household income for the households where the householder is White decreased by $15,165(30.50%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $49,715 in 2011 and $34,550 in 2021.
- In Forrest City, the median household income for the households where the householder is Black or African American increased by $2,807(9.91%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $28,331 in 2011 and $31,138 in 2021.
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Year by year
Forrest City, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Forrest City increased by $1,893 (5.56%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 3,242 (from $35,562 to $38,804). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 3,727 (from $40,667 to $36,940).
- It then further increased to $56,110 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4972, it is evident that income distribution in Forrest City, AR exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $36,523. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $21,115.
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