Summit, AR Profile: Facts & Data

The primary coordinate point for Summit is located at latitude 36.2523 and longitude -92.6907 in Marion County. The formal boundaries for the City of Summit encompass a land area of 1.23 sq. miles and a water area of 0 sq. miles. Marion County is in the Central time zone (GMT -6). The elevation is 860 feet.

The City of Summit (GNIS ID: 2405545) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Summit, AR Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	613 (100%)
Population in Households	612 (99.8%)
Population in Families	504 (82.2%)
Population in Group Quarters¹	1 ( 0.2%)
Population Density	508
Diversity Index²	21


INCOME
Median Household Income	$23,325
Average Household Income	$32,736
% of Income for Mortgage⁴	17%
Per Capita Income	$12,806
Wealth Index⁵	25

HOUSING
Total HU (Housing Units)	300 (100%)
Owner Occupied HU	149 (49.7%)
Renter Occupied HU	83 (27.7%)
Vacant Housing Units	69 (23.0%)
Median Home Value	$93,137
Average Home Value	$176,689
Housing Affordability Index³	163

HOUSEHOLDS
Total Households	231
Average Household Size	2.65
Family Households	163
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
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.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
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.

Summit, AR - Peer Comparisons by Rank and Percentile

The table below compares Summit to the other 540 incorporated cities, towns and CDPs in Arkansas by rank and percentile using July 1, 2020 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.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.14%	0.1%
Households	0.17%	0.17%
Families	-0.24%	0.0%
Median Household Income		2.61%
Per Capita Income		2.43%
Owner Occupied HU		-0.13%

Variable Description	Rank	Percentile
Total Population	# 268	51st
Population Density	# 227	58th
Median Household Income	# 533	1st
Housing Affordability Index	# 112	21st
Per Capita Income	# 533	1st
Diversity Index	# 338	38th

Summit, AR Profile: Facts & Data

Summit, Arkansas - Basic Facts

Summit, AR Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Summit, AR - Peer Comparisons by Rank and Percentile

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