Morrilton, AR is a city in the state of Arkansas that offers its residents a competitive cost of living. The city's two bedroom rental rate is $740, which is significantly lower than the US average of $1,430. Additionally, locals can also benefit from lower grocery costs with Morrilton's Grocery Cost Index at 93 versus the US index of 100. This makes it an attractive option for people looking to relocate or start a business. There are several major employers in Morrilton such as Tyson Foods, United States Cold Storage and American Railcar Industries Inc., offering potential job opportunities for those looking to move to the city. All these factors coupled with its low cost of living make Morrilton an ideal place to live for many people.
Morrilton has an unemployment rate of 4.9%. The US average is 6.0%.
Morrilton has seen the job market decrease by -1.5% over the last year. Future job growth over the next ten years is predicted to be 15.0%, which is lower than the US average of 33.5%.
Tax Rates for Morrilton
- The Sales Tax Rate for Morrilton is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Morrilton 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 Morrilton
- The average income of a Morrilton resident is $19,741 a year. The US average is $28,555 a year.
- The Median household income of a Morrilton resident is $35,966 a year. The US average is $69,021 a year.