Dermott, AR is a small town located in the southeast corner of Arkansas. It is known for its warm climate and tight-knit community. Housing costs in Dermott are significantly lower than the US average; a two-bedroom apartment comes in at roughly $570 a month, compared to the US average of $1,430. Groceries are also more affordable in Dermott with an index score of 91 versus 100 in the US. The local economy is largely driven by agricultural production and related trade, as well as businesses like D&S Oilfield Services LLC, Mid South Towing & Recovery LLC and Delta Mechanical Contractors Incorporated. It's a great place to live with friendly people and affordable living costs.
Dermott has an unemployment rate of 10.1%. The US average is 6.0%.
Dermott has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 6.2%, which is lower than the US average of 33.5%.
Tax Rates for Dermott
- The Sales Tax Rate for Dermott is 10.5%. The US average is 7.3%.
- The Income Tax Rate for Dermott 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 Dermott
- The average income of a Dermott resident is $12,970 a year. The US average is $28,555 a year.
- The Median household income of a Dermott resident is $26,429 a year. The US average is $69,021 a year.