Central City, AR is a small town with an estimated population of about 890 people as of 2018. The cost of living in this city is relatively low compared to other places in the US. For example, the average 2-bedroom rent is only $790 whereas it is much higher at $1,430 nationally. Similarly, the grocery cost index here stands at 96 whereas it’s 100 on average across the US. This makes Central City an attractive destination for people looking for lower prices without compromising on their quality of life.
The city has several local businesses that contribute to its economy such as Smith Electric Inc., Bella's Family Restaurant and Central City Bakery & Cafe. People can also visit ARC Carpet Cleaning and Bartoly Transportation if they require services in these areas. Overall, Central City offers many advantages to its residents due to its low cost of living combined with its wide range of local businesses and services.
Central City has an unemployment rate of 4.5%. The US average is 6.0%.
Central City 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 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Central City
- The Sales Tax Rate for Central City is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Central City 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 Central City
- The average income of a Central City resident is $22,551 a year. The US average is $28,555 a year.
- The Median household income of a Central City resident is $65,600 a year. The US average is $69,021 a year.