Hermitage, AR is a small town located in Southwest Arkansas. With a population of only 1,490 people, it has become a popular spot to live for those who value peace and quiet. The average rent for a two-bedroom apartment is $750, which is substantially lower than the national average of $1,430. Groceries are also more affordable here with a grocery cost index of 92 compared to the United States' 100.
The town's population may be small but it offers its residents plenty of local companies to shop at. A few businesses that are well-known in Hermitage include Dave's Tractor Repair, J&M Fishing Supplies, Brownlee Enterprises and Montes General Store. These stores have been around for many years and provide their customers with quality products and excellent service.
Hermitage has an unemployment rate of 5.0%. The US average is 6.0%.
Hermitage has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 30.3%, which is lower than the US average of 33.5%.
Tax Rates for Hermitage
- The Sales Tax Rate for Hermitage is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Hermitage 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 Hermitage
- The average income of a Hermitage resident is $12,838 a year. The US average is $37,638 a year.
- The Median household income of a Hermitage resident is $33,229 a year. The US average is $69,021 a year.