Lake Hamilton, AR is a small town located in Garland County. It's known for its stunning lakeside views and family-friendly atmosphere. The city has plenty to offer with local businesses such as, Hampton Inn and Suites, Lake Hamilton Resort and Spa, and Arkansas Grand Lodge. When it comes to cost of living, Lake Hamilton comes out ahead when compared to the rest of the United States. The average 2 bedroom rent is $910 versus $1,430 nationally while groceries are only 97 on the index versus 100 in the US. This makes Lake Hamilton an attractive option for those looking for a more affordable place to live while still enjoying all that this vibrant community has to offer.
Lake Hamilton has an unemployment rate of 6.1%. The US average is 6.0%.
Lake Hamilton 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 27.2%, which is lower than the US average of 33.5%.
Tax Rates for Lake Hamilton
- The Sales Tax Rate for Lake Hamilton is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Hamilton 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 Hamilton
- The average income of a Lake Hamilton resident is $53,128 a year. The US average is $28,555 a year.
- The Median household income of a Lake Hamilton resident is $52,313 a year. The US average is $69,021 a year.