Lake Village, AR is a vibrant community located in the southeastern part of Arkansas near the Mississippi River. The town offers an affordable cost of living with a two bedroom apartment renting for about $660 per month, while nationally the average two bedroom rental is about $1,430. Additionally, the Grocery Cost Index in Lake Village is 92 versus 100 nationally.
The town boasts numerous local businesses such as Lake Village Hardware, Little River Outfitters and Pines Flooring & Cabinets. There are also many popular restaurants including Sonic Drive-In, Burger King and Pizza Hut. Visitors to the city often enjoy outdoor entertainment at Paradise Sport Complex or checking out the latest events at Main Street Arts Center. Abundant fishing opportunities abound along Bear Creek Park and Lake Chicot State Park just outside of town.
Lake Village has an unemployment rate of 10.1%. The US average is 6.0%.
Lake Village has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 6.2%, which is lower than the US average of 33.5%.
Tax Rates for Lake Village
- The Sales Tax Rate for Lake Village is 10.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Village 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 Lake Village
- The average income of a Lake Village resident is $18,569 a year. The US average is $28,555 a year.
- The Median household income of a Lake Village resident is $40,056 a year. The US average is $69,021 a year.