A new study by real estate agent Alex Hillcrest says the average Arkansan now earns more than $140,000 annually and is likely earning more than that for the next decade.
The study by Hillcrend, a veteran of the real estate industry, was conducted in partnership with the American Enterprise Institute.
Hillcrest said the average income of Arkansans in their 20s now exceeds $140 per month, compared to $90 for those in their 30s.
That’s a 15 percent increase.
He said the gap between what the average American makes in their lifetime and what he believes is the average wage in their hometown is significant and is a real problem in this country.
Hillclover said he knows many people who are working hard to make ends meet, but the gap is even larger.
For example, an average family of four in the Ozarks can expect to earn $200,000 a year, and in Arkansas that number rises to $450,000 for a family of five.
He said that’s not enough to meet basic needs.
He added that it is the lack of affordable housing and the state’s slow economy that have left many Arkansons with no place to go.
Hillcroft said the number of people moving from other states into Arkansas is increasing because of rising home prices, and the problem will only get worse unless people realize they have a choice.