There were 1,287 households out of which 23.8% had children under the age of 18 living with them, 50.7% were married couples living together, 9.2% had a female householder with no husband present, and 38.4% were non-families. 35.7% of all households were made up of individuals and 19.0% had someone living alone who was 65 years of age or older. The average household size was 2.13 and the average family size was 2.72.
In the city the population was spread out with 20.2% under the age of 18, 7.2% from 18 to 24, 20.7% from 25 to 44, 26.3% from 45 to 64, and 25.7% who were 65 years of age or older. The median age was 47 years. For every 100 females there were 81.1 males. For every 100 females age 18 and over, there were 80.3 males.
The median income for a household in the city was $19,302, and the median income for a family was $27,589. Males had a median income of $20,000 versus $16,790 for females. The per capita income for the city was $17,375. About 10.2% of families and 17.0% of the population were below the poverty line, including 19.1% of those under age 18 and 11.7% of those age 65 or over.
The remainder of the local economy consists mostly of agriculture, specifically the farming of livestock, primarily cattle and chickens. Large-scale industrial activities in the area are overall nonexistent, excepting a few small manufacturing companies. The Stone County Iron Works, a nationally-known company that produces iron furniture, fixtures and housewares, is headquartered in Mountain View. Recently, the city has seen expansion of its personal aircraft maintenance and repair industry.
Stone County, along with neighboring Arkansas counties, is a dry county.
In April, the city hosts the Ozark Folk Festival. A highlight of this festival is an old-fashioned "home-town" parade, which brings out school bands, patriotic veterans groups, show horses, and decorated floats. Numerous folk craft vendors and many impromptu performances of live folk music are also part of the celebration.
During the last weekend of October, thousands attend the Arkansas Bean Fest and Great Championship Outhouse Races. Early Saturday morning, nearly one ton of pinto beans are cooked in large, antique iron kettles that are set up along the west side of the courthouse square. Promptly at noon, a nearly endless amount of free beans and cornbread are served to the gathered crowd. The festival continues with the famous Outhouse Race. Teams from Arkansas and surrounding states push outhouses built on wheels (similar to a go-kart) in a series of races. The overall champion receives the coveted Golden Toilet Seat Trophy. Handmade crafts and folk music play an integral part in this festival as well.
Other local festivals included the Mountain View Bluegrass Festival, held in both mid-March and mid-November; An Old-Fashioned Fourth of July, held on July 3rd and 4th; and the Ozark Mountain Christmas, held throughout the month of December. The latter festival is especially notable because it features the town Christmas tree lighting and lighting of the downtown square, including the courthouse and other downtown buildings.
The Ozark Folk Center plays host to several events throughout the year, including live concerts by well-known artist such as the Old Crow Medicine Show and Del McCoury, the Arkansas State Fiddle Championships, and workshops teaching banjo, dulcimer, and other folk crafts.