Texarkana, AR is a great place to live with an affordable cost of living. The average two bedroom rent in Texarkana is $870, which is much lower than the US average of $1,430. The grocery cost index in Texarkana is also very low at 91 compared to the US index of 100. This makes it easier for residents to budget their spending on basic goods and services. There are many local companies that contribute to the local economy, such as Texarkana National Bank which provides banking services and financial advice to businesses and individuals alike. Another company is McGhee-Houchin Construction which has been providing professional construction services in the Texarkana region since 1965. These organizations have created jobs for locals and offer reliable services that help grow the city’s economy.
Texarkana has an unemployment rate of 6.6%. The US average is 6.0%.
Texarkana has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 21.7%, which is lower than the US average of 33.5%.
Tax Rates for Texarkana
- The Sales Tax Rate for Texarkana is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Texarkana 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 Texarkana
- The average income of a Texarkana resident is $21,452 a year. The US average is $28,555 a year.
- The Median household income of a Texarkana resident is $43,625 a year. The US average is $69,021 a year.