Lafe, AR is a small town located in Lawrence County with a population of just over 300 people. Despite its small size, Lafe offers plenty of amenities and opportunities for its residents. Many local businesses are centered around agriculture, such as animal husbandry, farming, and ranching. As such, the cost of living in Lafe is quite low; rent for a two-bedroom apartment averages around $720 per month, which is significantly lower than the national average of $1,430. Additionally, grocery costs are also lower than other places - the Grocery Cost Index in Lafe is 92 versus 100 in the US. This makes it more affordable for locals to buy groceries and other essentials without straining their budget.
Lafe has an unemployment rate of 4.2%. The US average is 6.0%.
Lafe has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 24.8%, which is lower than the US average of 33.5%.
Tax Rates for Lafe
- The Sales Tax Rate for Lafe is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Lafe 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 Lafe
- The average income of a Lafe resident is $16,548 a year. The US average is $28,555 a year.
- The Median household income of a Lafe resident is $34,286 a year. The US average is $69,021 a year.