๐ŸŒŸ Exploring the Economic Climate of Horseshoe Bend, AR ๐ŸŒŸ

Introduction Welcome to Horseshoe Bend, Arkansas! ๐ŸŒณ 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! ๐Ÿก

CITY OF HORSESHOE BENDECONOMIC DEVELOPMENTCURRENT CLIMATE

amberly martin

6/17/20241 min read

pink rose petals on white table
pink rose petals on white table

Demographics ๐Ÿ“Š

  • Population: 2,543 residents as of the latest census data ๐Ÿ‘ซ

  • Median Age: 53.1 years ๐ŸŽ‚

  • Ethnic Composition: Predominantly White (85.6%), followed by Two or More Races (10%), and Hispanic (2.6%) ๐ŸŒ

Income and Employment ๐Ÿ’ผ

  • Median Household Income: $35,243 per year ๐Ÿ’ต

  • Average Household Income: $49,371 per year ๐Ÿ’ฐ

Employment Statistics:

  • Unemployment Rate: 6.0% as of the latest data ๐Ÿ“‰

  • White-Collar vs. Blue-Collar Workers: 50.9% white-collar and 49.1% blue-collar ๐Ÿ‘”๐Ÿ‘ท

  • Key Industries: Health care (14.4%), Accommodation & food services (14.4%), and Real estate & rental & leasing (10.7%) ๐Ÿฅ๐Ÿด๐Ÿก

Housing Market ๐Ÿ 

  • Median Home List Price: $199,900 as of September 2023, with a significant increase from the previous month ๐Ÿ“ˆ

  • Median Property Value: $103,200 in 2022 ๐Ÿก

  • Homeownership Rate: 79.7% ๐Ÿ˜๏ธ

  • Median Gross Rent: $599 in 2022 ๐Ÿ 

Cost of Living ๐Ÿ’ฒ

  • Cost of Living Index: 77.9 (U.S. average is 100), indicating a lower cost of living compared to the national average ๐Ÿท๏ธ

Economic Growth and Job Market ๐Ÿš€

  • 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% ๐Ÿ“‰

  • Sales Tax Rate: 9.0% (combined state, county, and city rates) ๐Ÿ’ธ

Poverty Statistics ๐Ÿ“‰

  • Percentage of Residents Living in Poverty: 24.9% in 2022 ๐Ÿ˜ž

  • Poverty Breakdown by Race:

    • 18.1% for White Non-Hispanic residents

    • 11.3% for Hispanic or Latino residents

    • 100% for American Indian residents ๐ŸŒ

Transportation ๐Ÿš—

  • Common Means of Transportation: Most residents drive alone to work, with an average commute time of 24.3 minutes ๐Ÿš˜

  • Car Ownership: Average of 2 cars per household ๐Ÿš—๐Ÿš—