Gum Springs, AR is an affordable place to live, with a median 2 bedroom rent of $720 compared to the US median of $1,430. Prices for other items are also much lower than the national average. The local Grocery Cost Index is 94 versus 100 in the US, making it a great place to save on food. Local businesses that make up this small town are Ranchers' Market and IGA Supermarket, as well as Ace Hardware Store and Andelli's Pizzeria. With these low prices, Gum Springs is a great place to save money while still having access to all basic amenities.
Gum Springs has an unemployment rate of 5.0%. The US average is 6.0%.
Gum Springs has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Gum Springs
- The Sales Tax Rate for Gum Springs is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Gum Springs 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 Gum Springs
- The average income of a Gum Springs resident is $24,753 a year. The US average is $37,638 a year.
- The Median household income of a Gum Springs resident is $38,229 a year. The US average is $69,021 a year.