Parkin, Arkansas is a small town located in the northern part of the state. It has an estimated population of 1,000 people and offers a variety of activities and amenities for residents to enjoy. The cost of living in Parkin is quite low, with two bedroom rental prices averaging only $640 per month. This is significantly cheaper than the national average of $1,430 per month for the same size place. The Grocery Cost Index in Parkin is also lower than the national average at 90 versus 100.
There are several local businesses in Parkin, including a grocery store called Farrah's Market, a cafe called Aunt Hilda's Diner, and an auto parts store called D & R Auto Parts. Additionally, there are several small restaurants and other shops that offer goods and services to the local community.
Parkin has an unemployment rate of 5.4%. The US average is 6.0%.
Parkin 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 Parkin
- The Sales Tax Rate for Parkin is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Parkin 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 Parkin
- The average income of a Parkin resident is $14,772 a year. The US average is $28,555 a year.
- The Median household income of a Parkin resident is $24,667 a year. The US average is $69,021 a year.