Caraway is located in northeast Arkansas. Caraway is between the Craighead, Mississippi, Poinsett county. Caraway has 2.32 square miles of land area and 0.01 square miles of water area. As of 2010-2014, the total Caraway population is 1,182, which has shrunk 12.38% since 2000. The population growth rate is much lower than the state average rate of 10.24% and is much lower than the national average rate of 11.61%. Caraway median household income is $37,031 in 2010-2014 and has grown by 66.21% since 2000. The income growth rate is much higher than the state average rate of 28.22% and is much higher than the national average rate of 27.36%. Caraway median house value is $55,200 in 2010-2014 and has grown by 43.01% since 2000. The house value growth rate is lower than the state average rate of 49.31% and is lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Caraway is close to the state average in quality. The Caraway area code is 870.