๐ Exploring the Economic Climate of Horseshoe Bend, AR ๐
Introduction Welcome to Horseshoe Bend, Arkansas! ๐ณ Nestled in the beautiful Ozarks, this charming community is brimming with potential and unique characteristics that make it a great place to live, work, and invest. Let's dive into the economic climate of our beloved town! ๐ก
CITY OF HORSESHOE BENDECONOMIC DEVELOPMENTCURRENT CLIMATE
amberly martin
6/17/20241 min read
Demographics ๐
Population: 2,543 residents as of the latest census data ๐ซ
Median Age: 53.1 years ๐
Ethnic Composition: Predominantly White (85.6%), followed by Two or More Races (10%), and Hispanic (2.6%) ๐
Income and Employment ๐ผ
Median Household Income: $35,243 per year ๐ต
Average Household Income: $49,371 per year ๐ฐ
Employment Statistics:
Unemployment Rate: 6.0% as of the latest data ๐
White-Collar vs. Blue-Collar Workers: 50.9% white-collar and 49.1% blue-collar ๐๐ท
Key Industries: Health care (14.4%), Accommodation & food services (14.4%), and Real estate & rental & leasing (10.7%) ๐ฅ๐ด๐ก
Housing Market ๐
Median Home List Price: $199,900 as of September 2023, with a significant increase from the previous month ๐
Median Property Value: $103,200 in 2022 ๐ก
Homeownership Rate: 79.7% ๐๏ธ
Median Gross Rent: $599 in 2022 ๐
Cost of Living ๐ฒ
Cost of Living Index: 77.9 (U.S. average is 100), indicating a lower cost of living compared to the national average ๐ท๏ธ
Economic Growth and Job Market ๐
Recent Job Market Trends: A decrease of -8.5% over the last year, with future job growth predicted at 16.9% over the next ten years, which is lower than the U.S. average of 33.5% ๐
Sales Tax Rate: 9.0% (combined state, county, and city rates) ๐ธ
Poverty Statistics ๐
Percentage of Residents Living in Poverty: 24.9% in 2022 ๐
Poverty Breakdown by Race:
18.1% for White Non-Hispanic residents
11.3% for Hispanic or Latino residents
100% for American Indian residents ๐
Transportation ๐
Common Means of Transportation: Most residents drive alone to work, with an average commute time of 24.3 minutes ๐
Car Ownership: Average of 2 cars per household ๐๐
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