Trumann, AR is a small city with a population of approximately 8,000 people. It is known for its affordable cost of living, with a 2 bedroom rent rate of $800 compared to the national average of $1,430. The Grocery Cost Index in Trumann is also lower than the US average at 93 versus 100. There are well-known companies in the area such as First National Bank, M&H Auto Parts and LSI Industries. All three companies provide employment opportunities for locals and contribute to the economy in the region.
Trumann has an unemployment rate of 4.7%. The US average is 6.0%.
Trumann has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 33.5%, which is higher than the US average of 33.5%.
Tax Rates for Trumann
- The Sales Tax Rate for Trumann is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Trumann 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 Trumann
- The average income of a Trumann resident is $21,018 a year. The US average is $37,638 a year.
- The Median household income of a Trumann resident is $37,711 a year. The US average is $69,021 a year.