Norman, AR is a great place to live for those looking for relatively low prices on rent and other basic necessities. According to the data provided, 2 bedroom rent in Norman costs $640 whereas the US average is much higher at $1430. This makes it an attractive city for people looking to save money while having enough space for their needs. The grocery cost index in Norman is 92 compared to 100 in the US, showing again that prices here are generally lower than most places in the country. Local companies in Norman include Tinker Federal Credit Union, Kirkpatrick Bank, and Century Link. All of these businesses offer services and products that make it easier for locals to live their daily lives more affordably. The cost of living index in Norman is slightly less than the national average, making it a great choice when considering a move or relocation.
Norman has an unemployment rate of 5.2%. The US average is 6.0%.
Norman has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 14.8%, which is lower than the US average of 33.5%.
Tax Rates for Norman
- The Sales Tax Rate for Norman is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Norman 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 Norman
- The average income of a Norman resident is $14,347 a year. The US average is $28,555 a year.
- The Median household income of a Norman resident is $55,625 a year. The US average is $69,021 a year.