The Town of Magnet Cove had a population of 454 as of July 1, 2019. Magnet Cove ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Arkansas. See peer rankings below.
The primary coordinate point for Magnet Cove is located at latitude 34.4543 and longitude -92.8446 in Hot Spring County. The formal boundaries for the Town of Magnet Cove encompass a land area of 0.01 sq. miles and a water area of 0 sq. miles. Hot Spring County is in the Central time zone (GMT -6). The elevation is 518 feet.
The Town of Magnet Cove (GNIS ID: 2747298) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
Alternate Unofficial Names for Magnet Cove: Magnet.
HOUSING AFFORDABILITY INDEX
|Magnet Cove, AR Housing Affordability Index is 259 |
State of Arkansas Housing Affordability Index is 177
|The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.|
|Magnet Cove, AR Wealth Index is 117 |
State of Arkansas Wealth Index is 67
|The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
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|Population in Households||454|
|Population in Families||390|
|Population in Group Qrtrs||0|
|Median Household Income||$58,070|
|Average Household Income||$85,905|
|Per Capita Income||$33,192|
|Total Housing Units||181 (100%)|
|Owner Occupied HU||136 (75.1%)|
|Renter Occupied HU||31 (17.1%)|
|Vacant Housing Units||14 ( 7.7%)|
|Median Home Value||$126,563|
|Housing Affordability Index2||259|
|Average Household Size||2.72|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||1.5%|
|Per Capita Income||2.17%|
The table below compares Magnet Cove to the other 540 incorporated cities, towns and CDPs in Arkansas by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 313||42nd|
|Population Density||# 398||26th|
|Diversity Index||# 498||8th|
|Median Household Income||# 48||91st|
|Per Capita Income||# 28||95th|
Additional comparisons and rankings can be made with a VERY EASY TO USE Arkansas Census Data Comparison Tool.