Greenwood, AR is a beautiful city located in the South with a population of 8,952. The cost of living in Greenwood is lower than the national average; rent for a two bedroom apartment is $800 compared to the national average of $1,430 and the grocery cost index is 96 versus 100 nationally. One great thing about Greenwood is that it has some amazing local companies such as John Wieland Homes, Phoenix Energy Solutions, and The Sassafras Group. These companies specialize in home building, energy solutions, and business consulting respectively. In addition to these businesses there are also several locally owned stores such as Boutique-A-Go-Go and Moma's Country Store. With all of this combined, Greenwood provides an affordable place to live with plenty of options for businesses and services.
Greenwood has an unemployment rate of 4.5%. The US average is 6.0%.
Greenwood 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 Greenwood
- The Sales Tax Rate for Greenwood is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Greenwood 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 Greenwood
- The average income of a Greenwood resident is $26,922 a year. The US average is $28,555 a year.
- The Median household income of a Greenwood resident is $57,837 a year. The US average is $69,021 a year.