Okolona, Arkansas is a small town of around 2,000 people located in the foothills of the Ouachita Mountains. The cost of living in Okolona is quite low with 2 Bedroom Rent costing only $640 which is significantly less than the US average of $1,430. Additionally, grocery costs in Okolona are indexed at 91 compared to 100 in the US.
Okolona offers a variety of local businesses to its residents from food stores such as Big Red and D&R Grocery to car dealerships like Clay Maxey Ford and Wells Motor Company. There are also many family-owned businesses such as Smith Electric and Andersen Heating & Air Conditioning that have been providing services to Okolona residents for over 30 years. Residents can also rely on locally owned beauty salons such as Hairmasters Salon and Hooper Family Hair Care for all their grooming needs. With these local businesses, Okolona offers an affordable and comfortable lifestyle for its residents.
Okolona (zip 71962) has an unemployment rate of 5.0%. The US average is 6.0%.
Okolona (zip 71962) has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Okolona (zip 71962)
- The Sales Tax Rate for Okolona (zip 71962) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Okolona (zip 71962) is 6.9%. The US average is 4.6%.
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Income and Salaries for Okolona (zip 71962)
- The average income of a Okolona (zip 71962) resident is $18,419 a year. The US average is $37,638 a year.
- The Median household income of a Okolona (zip 71962) resident is $28,854 a year. The US average is $69,021 a year.