Bassett, AR is a small town located in Arkansas with an estimated population of 801. The cost of living in Basset is much lower than the national average due to its smaller size. For example, 2 bedroom rents are only about $640 compared to $1,430 nationally. Similarly, the Grocery Cost Index in Bassett is 90 versus 100 nationally.
The town has a few local companies such as Bassett Furniture Industries, Inc., which manufactures furniture products for residential and commercial use, Bassett Mechanical Solutions Inc., which provides contractor services to private and public entities, and Vista Bank. These businesses contribute to the local economy allowing for an overall lower cost of living across all industries.
Bassett has an unemployment rate of 7.7%. The US average is 6.0%.
Bassett has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Bassett
- The Sales Tax Rate for Bassett is 10.5%. The US average is 7.3%.
- The Income Tax Rate for Bassett 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 Bassett
- The average income of a Bassett resident is $16,754 a year. The US average is $28,555 a year.
- The Median household income of a Bassett resident is $41,607 a year. The US average is $69,021 a year.