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Last Updated: 08/11/2022

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All About

Living In Bonanza, AR

Bonanza, Arkansas is a small town with a population of just under 1,000. Retirees are a frequent sight, as they make up 22% of the population compared to 14% nationally, while young adults account for a smaller percentage of the town. Overall, the town's residents, with an average age of just over 44, skew older than most cities in Arkansas. Renters tend to be in the minority in the area, and 89% of residents own their homes. With an average rent of $1,005/month, exceeding the state average by $244 a month, relatively high rent costs could be a contributing factor in the higher levels of ownership.

With an average commute time of about 23 minutes, faster than most cities in the state, Bonanza residents find that traveling to work isn't overly time-consuming. Driving a car or truck is the most common means of commuting to work, chosen by 45% of residents, while public transportation isn't used extensively. Walking (2%) isn't a common way to get to work, though the number exceeds the national average.

There are four primary industries in Bonanza: retail, healthcare, education, and manufacturing. Together, these industries make up 27% of the town's labor force. Meanwhile, looking at job function, many residents work in management, making it the top profession in the town. With an average annual income of just over $89K, third-highest in the state, Bonanza workers are generally well-compensated for their efforts. Bonanza's average income also compares favorably to the national average of $73,345. Bonanza has a relatively high concentration of residents older than 25 with advanced degrees compared to the national average (7%), as 9% have earned a Master's or a Doctoral degree. Additionally, 15% have a Bachelor's degree.

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