Hot Springs, AR is an attractive city to live in due to its lower than average cost of living. The 2 bedroom rent rate is $850 which is much lower than the US average of $1,430 and the grocery cost index in Hot Springs of 96 versus 100 in the US. There are a number of local companies in Hot Springs such as Oaklawn Racing & Gaming, National Park Aquarium, and Quapaw Baths & Spa that make this city an exciting place to be.
Hot Springs has an unemployment rate of 7.6%. The US average is 6.0%.
Hot Springs has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Hot Springs
- The Sales Tax Rate for Hot Springs is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Hot Springs is 6.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hot Springs
- The average income of a Hot Springs resident is $20,108 a year. The US average is $28,555 a year.
- The Median household income of a Hot Springs resident is $42,718 a year. The US average is $69,021 a year.