Magness, Arkansas is an ideal place to settle down and start a family. This small town offers affordable rent compared to national averages with two-bedroom apartments costing $720 per month, while across the US they average $1,430. It is also much cheaper to buy groceries in Magness with a grocery cost index that is 91 versus the US average of 100. \nThe area around Magness has plenty of businesses that serve as major employers. Notable companies include Valley Farms, Inc., Midsouth Agriculture Company, and Pioneer Seed. The community is also supported by several restaurants such as El Patio Mexican Restaurant and Cracker Barrel Old Country Store. Overall, Magness is a great place to live due to its low cost of living that make it an attractive option for people looking for affordable housing options without sacrificing local job opportunities or amenities.
Magness has an unemployment rate of 4.5%. The US average is 6.0%.
Magness has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 35.2%, which is higher than the US average of 33.5%.
Tax Rates for Magness
- The Sales Tax Rate for Magness is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Magness 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 Magness
- The average income of a Magness resident is $8,761 a year. The US average is $28,555 a year.
- The Median household income of a Magness resident is $55,532 a year. The US average is $69,021 a year.