Lake City, AR is a small city located in Arkansas. It has an affordable cost of living compared to the rest of the US, with a 2 Bedroom rent costing around $910 per month and a Grocery Cost Index of 92 versus 100 in the US. \nThe city boasts several local businesses, such as Arvest Bank, BancorpSouth, Brown’s Thriftway supermarket, and Ozark Fish Hatchery. Additionally, there are medical facilities like White River Medical Center and a variety of restaurants and entertainment venues. The city also has its own airport for easy access to other nearby cities.
Lake City has an unemployment rate of 3.9%. The US average is 6.0%.
Lake City has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 40.9%, which is higher than the US average of 33.5%.
Tax Rates for Lake City
- The Sales Tax Rate for Lake City is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Lake City 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 Lake City
- The average income of a Lake City resident is $17,264 a year. The US average is $28,555 a year.
- The Median household income of a Lake City resident is $53,345 a year. The US average is $69,021 a year.