Moving to Little Rock, Arkansas, The capital and most populated city, is situated on the south bank of the Arkansas River, precisely in the middle of the state. As of 2020, Little Rock is ranked #11 on smartasset.com’s list of the “Best Cities to Work From Home.” Little Rock continues to draw new residents as a cultural, commercial, transportation, and government center with a lower than average cost of living. Little Rock is a perfect place to work remotely, in addition to luring new residents with conventional job opportunities and high quality of life.
Guide Moving to Little Rock
While the cost of living and economy is appealing, Little Rock also attracts outdoor enthusiasts who enjoy the beautiful scenery, which offers excellent hiking, biking, golf, boating, fishing, and other water-related and outdoor activities. Little Rock was a crucial spot in the Civil Rights Movement and played an important part in the growth of the South. The modern city of ‘The Rock’ is formed by a rich and unique past.
With a population of about 199,000 people, is the country’s #70 most diverse community, according to niche.com. The population of the greater metropolitan area is estimated to be about 750,000 people. Little Rock’s strategic central position in the South is also appreciated by these locals. It’s a five-hour drive west to Dallas or a two-hour drive east to Memphis from here.
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Little Rock’s median home value was $140,800 in November 2019, well below the national average of $231,200. However, the median price of homes currently on the market is $219,000, with prices expected to rise by 1% in 2020.
About 44% of Little Rock residents rent their houses, paying an average monthly rent of $803, which is slightly less than the national average of $1,470. You can also expect to find a rental with more square footage than in many other US cities, in addition to lower rent.
Although home prices in Little Rock are generally low, there are a few places that are less expensive than others. 65th Street West, Big Dickinson Lake, Central High, East of I-30, Oak Forest, South End, Upper Baseline, and Wakefield are the most accessible neighborhoods.
Cost of Living moving to Little Rock
Little Rock has an extremely low cost of living. Bestplaces.net calculates a city’s cost of living based on a 100-point US index. Little Rock’s cost of living index is 82.5. Housing costs 61.9 dollars, groceries 95.8, health costs 86.3 dollars, electricity costs 95.1 dollars, and transportation costs 83.1 dollars.
The average household income is $46,409, compared to $53,482 in the United States. According to the Economic Policy Institute’s Family Budget Calculator, a family of four in Little Rock will need to raise $6,238 per month and $74,859 per year to support a moderate lifestyle.
Job Market and Economy
Little Rock has a 3.4 percent unemployment rate, which is significantly lower than the national average of 3.9 percent. The job market, on the other hand, has only risen by 0.1 percent in the last year. Over the next ten years, employment growth is projected to rise by 32.2 percent, slightly less than the US average of 33.5 percent.
Healthcare, aerospace, banking and finance, telecommunications, advanced manufacturing, education, agriculture, and government are all major industries.
Many businesses are headquartered in Little Rock or have a significant presence there. The University of Arkansas for Medical Sciences, Baptist Health, Little Rock Air Force Base, and Arkansas Children’s Hospital are the top employers, followed by the federal, state, and local governments. The economy profits from the massive international industrial complex at Little Rock’s navigable port. The city of Little Rock has a page that will help you find jobs.
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