Newhope, AR is a small town located in Miller County with a population of 2,773. It offers residents an affordable cost of living in comparison to other cities in the United States. The average price for a two-bedroom rental is $660 per month which is less than half what you would spend on rent in many other places. Additionally, the grocery cost index for Newhope is 94 as compared to 100 in the US, meaning groceries are even more affordable here.
The area also has many local businesses such as Faulkner True Value Hardware, McCallister's Auto Service, and Sue & Co Hairdressers that provide excellent customer service and quality products and services to residents of Newhope. These companies make it easy and convenient for locals to find what they need without having to travel far from home.
Overall, Newhope provides an affordable lifestyle with low housing costs and groceries that won't break your budget. With its variety of local businesses, you can easily find whatever you need all within walking distance from your home.
Newhope (zip 71959) has an unemployment rate of 5.0%. The US average is 6.0%.
Newhope (zip 71959) has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 34.7%, which is higher than the US average of 33.5%.
Tax Rates for Newhope (zip 71959)
- The Sales Tax Rate for Newhope (zip 71959) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Newhope (zip 71959) 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 Newhope (zip 71959)
- The average income of a Newhope (zip 71959) resident is $23,405 a year. The US average is $37,638 a year.
- The Median household income of a Newhope (zip 71959) resident is $57,375 a year. The US average is $69,021 a year.