Sherwood, AR is a small city located in Pulaski County with easy access to major cities such as Little Rock and Conway. The city is known for its low cost of living when compared to the US average. The average two bedroom rent in Sherwood is $900 which is much lower than the US average of $1,430. In addition, the grocery cost index in Sherwood is 95 versus 100 in the US. This means groceries are relatively cheaper in Sherwood than other parts of the country.
Sherwood is home to many businesses such as LM Restaurants, Arkansas Children's Hospital, Walmart Distribution Center, Valley View Mall and more - all contributing to creating a diverse economy for locals. People choosing to live in this city do not have to worry about high costs of living due to its location. Overall, living in Sherwood can be an affordable choice for families and individuals looking for lower cost housing options and overall affordability when it comes to day-to-day expenses.
Sherwood has an unemployment rate of 5.0%. The US average is 6.0%.
Sherwood has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 33.2%, which is lower than the US average of 33.5%.
Tax Rates for Sherwood
- The Sales Tax Rate for Sherwood is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Sherwood 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 Sherwood
- The average income of a Sherwood resident is $28,434 a year. The US average is $28,555 a year.
- The Median household income of a Sherwood resident is $67,964 a year. The US average is $69,021 a year.