Cherry Valley, AR is a small town located in northwestern Arkansas. Known for its rural beauty, it has become an increasingly popular place to live. The cost of living is quite affordable compared to the national average, with 2 bedroom rents costing only $640 per month compared to the national average of $1,430. The groceries cost index in Cherry Valley is 92 while the US index is 100, making groceries much more affordable than other parts of the country. Local businesses such as the Cherry Valley Natural Foods Store and Max's Grocery are excellent sources for locals to find their daily needs at competitive prices along with organic and natural options. Overall, Cherry Valley offers a great quality of life that is balanced in terms of affordability and accessibility to necessary amenities.
Cherry Valley has an unemployment rate of 5.4%. The US average is 6.0%.
Cherry Valley has seen the job market decrease by -3.8% over the last year. Future job growth over the next ten years is predicted to be 10.0%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Valley
- The Sales Tax Rate for Cherry Valley is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Cherry Valley 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 Cherry Valley
- The average income of a Cherry Valley resident is $16,050 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Valley resident is $42,500 a year. The US average is $69,021 a year.