In today’s economy, it’s more important than ever to keep your finances in order. One way to do this is by consolidating your debts into one monthly payment. This can save you money on interest and simplify your budget. There are many reputable lenders who offer debt consolidation in North Little Rock (AR).
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North Little Rock Arkansas AR
Pulaski County is home to the city of North Little Rock. Across the Arkansas River from North Little Rock lies the city of Conway. Together, these two cities anchor the six-county Little Rock-Conway Metropolitan Statistical Area.
The population of North Little Rock was 64,591 at the 2020 census. The estimated population for 2019 was 65,903, making it the seventh most populous city in Arkansas. Meanwhile, Conway’s population was recorded at 80,612 in 2020.
Both cities offer a variety of amenities and attractions for residents and visitors alike. From arts and culture to outdoor recreation, there is something for everyone in Little Rock and Conway.
Housing Market
Housing affordability is a major concern for many Americans. In Arkansas, however, homes are still more affordable than in most other states. The average price of a home in Arkansas is $233,100, much lower than the national average of $388,965. Despite recent increases of 21.7%, prices in Arkansas remain relatively low. This has caused inventory to drop sharply by 47.1%.
The median home value in North Little Rock is $138,800. This is higher than the median home value in the state of Arkansas, which is $136,200. The median price for all housing units in North Little Rock was $170,400 in 2019. This included detached houses at $167,461, townhouses or other attached units at $268,775, and 2-unit structures at $282,313.
Cost Of Living & Income
The median household income in North Little Rock, Arkansas was $40,870 in 2019. This is up from $35,578 in 2000. The per capita income in North Little Rock was $26,630 in 2019.
Living in North Little Rock is relatively affordable, with a 2019 gross rent of $796. The cost of living index in March 2019 was 84.8, which is lower than the average for the United States (100).
Retirement In Arkansas
The cost of living in Arkansas is relatively low, but that doesn’t mean retirement will be a breeze. A recent study found that the average Arkansan will need $728,000 in order to retire comfortably. That number is quite alarming when compared to the average savings of residents, which is only $345,267. This means that the average retiree would be $382,733 short of what is needed to live comfortably in retirement.
Retirees are finding that Arkansas is a great state to live in during their golden years. The cost of living is relatively low, the weather is mild, and property taxes are low. This makes it an attractive option for retirees who are on a fixed income. Although the state’s income tax rates are average, retirees may find states without an income tax more appealing.
Taxes And Banking
Income taxes in Arkansas can be quite high, ranging from 2% all the way up to 5.9%. In addition to this, the state also imposes a sales tax of 6.5%, which can increase even further to 12.
A recent study found that only 7.1% of people living in Arkansas have checking or savings accounts, which is lower than most other states in America. This means that a significant number of residents don’t have access to basic financial resources.
Debt Relief In North Little Rock AR
Debt consolidation in North Little Rock (AR) can be a good way to improve your financial situation by consolidating your debts into one loan with a lower interest rate and monthly payments. However, you should consider the pros and cons of this type of loan before taking one out to make sure it is the best decision for your particular situation.
