Hope, AR is a small town located in Southwest Arkansas with a population of approximately 10,000 people. The cost of living index is lower than the national average, making it an affordable place to live. Rent for a two-bedroom house in Hope is $680 per month, which is nearly half of the national average of $1,430. Additionally, grocery costs are 10% less than anywhere else in the United States. There are many local businesses that contribute to Hope's economy such as Eastside Elementary School, Wal-Mart Supercenter, and Hope Landscaping & Maintenance Services Inc. In comparison to other cities across the United States, Hope offers a much lower rate for rent and groceries which makes it an attractive place to live.
Hope has an unemployment rate of 4.0%. The US average is 6.0%.
Hope 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 Hope
- The Sales Tax Rate for Hope is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Hope 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 Hope
- The average income of a Hope resident is $23,015 a year. The US average is $37,638 a year.
- The Median household income of a Hope resident is $42,122 a year. The US average is $69,021 a year.