Hempstead, AR County offers great affordability for residents in comparison to the US. The average 2 Bedroom Rent is $770 compared to the US average of $1,430. Additionally, the Grocery Cost Index of 89 in Hempstead is 11 points lower than the national index. Companies looking to enter or expand their presence in this area can take advantage of these low costs and provide more competitive rates for their services and products. Local businesses such as restaurants, banks, retail stores, and construction companies can make use of this information to adjust their pricing strategies and offer lower prices relative to other locations. This can attract more customers both locally and nationwide which would result in increased revenue for these companies.
Hempstead County has an unemployment rate of 4.0%. The US average is 6.0%.
Hempstead County has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 26.9%, which is lower than the US average of 33.5%.
Tax Rates for Hempstead County
- The Sales Tax Rate for Hempstead County is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Hempstead County 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 Hempstead County
- The average income of a Hempstead County resident is $23,132 a year. The US average is $37,638 a year.
- The Median household income of a Hempstead County resident is $43,592 a year. The US average is $69,021 a year.