Malvern is home to several manufacturing companies including Acme Brick, Weyerhaeuser, Borden Chemical, Adams Face Veneer Company Inc, Leggett & Platt Precision, and Pactiv Corporation, and is the home of Grapette International, a manufacturer of Grapette soda. Notable Malvern natives include Academy-Award winner Billy Bob Thornton, three-time Super Bowl winner Keith Traylor, and musician and stage performer Beth Clayton.
As of the census of 2000, there were 9,021 people, 3,769 households, and 2,431 families residing in the city, and its population density was 1,227.1 people per square mile (473.9/km²). There were 4,193 housing units at an average density of 570.4/sq mi (220.3/km²). The racial makeup of the city was 68.16% White, 28.66% Black or African American, 0.35% Native American, 0.29% Asian, 0.07% Pacific Islander, 0.53% from other races, and 1.94% from two or more races. 1.26% of the population were Hispanic or Latino of any race.
The city had 3,769 households, out of which 29.0% contained children under the age of 18, 44.1% were married couples living together, 16.3% had a female householder with no husband present, and 35.5% were non-families. 32.2% of all households were made up of individuals and 16.8% had someone living alone who was 65 years of age or older. The average household size was 2.33 and the average family size was 2.93. Additionally, 25.0% of the city's population were under the age of 18, 9.3% from 18 to 24, 24.2% from 25 to 44, 21.5% from 45 to 64, and 20.0% were 65 years of age or older. The median age was 38 years; for every 100 females there were 85.0 males and for every 100 females age 18 and over, there were 80.7 males.
The median income for a household in the city was $27,007, and the median income for a family was $34,563. Males had a median income of $27,232 versus $18,929 for females and the per capita income for the city was $14,848. About 15.7% of families and 20.3% of the population were below the poverty line, including 27.6% of those under age 18, and 18.4% of those age 65 or over.
Malvern is connected on road by Interstate 30, U.S. Route 270, and U.S. Route 67. Amtrak's Texas Eagle provides daily passenger train service to Malvern on a route extending from Chicago to Dallas and Los Angeles, and railroad freight service to Malvern is provided by Union Pacific Railroad and the Arkansas Midland Railroad, the latter operating over the route of the original Hot Springs Railroad. The Malvern Municipal Airport (FAA Identifier: M78) serves the Malvern area.