Hot Springs, AR Metro Area is an affordable place to live with an average 2 bedroom rent of $880 compared to the US average of $1,430 and a Grocery Cost Index of 96 compared to 100 in the US. This makes Hot Springs an attractive place for those on a budget. Some large companies that are headquartered in Hot Springs are Oaklawn Jockey Club Inc, Cooper Communities Inc., and Deltic Timber Corporation. Others include Entergy Arkansas and Procter & Gamble Manufacturing Company who both have significant operations in the area.
Hot Springs Metro Area has an unemployment rate of 6.1%. The US average is 6.0%.
Hot Springs Metro Area 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 27.2%, which is lower than the US average of 33.5%.
Tax Rates for Hot Springs Metro Area
- The Sales Tax Rate for Hot Springs Metro Area is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Hot Springs Metro Area 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 Hot Springs Metro Area
- The average income of a Hot Springs Metro Area resident is $29,214 a year. The US average is $37,638 a year.
- The Median household income of a Hot Springs Metro Area resident is $49,985 a year. The US average is $69,021 a year.