What Is The Cost Of Living In Arkansas?

What Is The Cost Of Living In Arkansas?

November 29, 2022 Off By Altaf

Do you know? What is the cost of living in Arkansas? Maybe Not. But this article will provide you with the average cost of living in Arkansas. Arkansas is in the South Central United States. It is known for its rivers, lakes, and hot springs, extreme weather and frequent storms, rice and poultry production, and the only active diamond mine in the USA. This is a short introduction to Arkansas. Now, let’s move on to the cost of living in Arkansas

What Is The Cost Of Living In Arkansas?

The cost of living in Arkansas is 79.0 out of 100. To understand it in detail read the table given below. In which the cost of living in Arkansas is given by taking a reference from the average national cost of 100. Below 100 means the lowest cost of living in Arkansas and vice versa. 

Cost Of Living ForArkansas USA
Housing55.7100
Grocery92.7100
Transportation81.6100
Utilities95.6100
Health86.5100
Miscellaneous93.9100
Median Home Cost$145,300$291,700
OverAll79100

Home Rent 

As far as the home rent is concerned, we can not say that the house rent is fixed. But it is variable as per the size of the home, area, architecture, location, and many more. But going through this table you can get an idea of the home rent for 1 and 2 bedroom houses. The table consists of the cost of living in different cities in Arkansas including the cost of living in Fort Smith Arkansas

CityApprox 1 Bedroom RentApprox 2 Bedroom Rent
Bentonville $750$1300 
Fayetteville $795$2195
Rogers $750$1600
Fort Smith $525$995
Little Rock$550$1350

Food Cost 

Low cost of food will save a lot of money because you need food on a daily basis for two to three times. The cost of living in Fayetteville Arkansas is low because of the low price of food. The table given below will tell you about the cost of food in different cities in Arkansas including the cost of living in Little Rock Arkansas

CityApprox Dinner For 2
Bentonville $105
Fayetteville $30
Rogers $70
Fort Smith $73 
Little Rock $50

Travel Cost 

The average cost of a 7-day trip to Arkansas is $979 for a solo traveler and it is $1521 for a couple. The cost of living is also dependent on the cost of traveling and in that case, the cost of living in Rogers Arkansas is very high because of the high rates of transportation. 

Other Expenses 

While living there are so many types of expenses that you need to pay. You can not save from the expenses you need to pay them monthly or daily, or yearly. Let’s take a look at the other expenses in Arkansas.  

Health Care 

The overall cost of living in Bentonville Arkansas is 12% lower than the national average cost because of their lower healthcare charges. The average cost of health insurance in Arkansas is around $6,653 per person. And for the family of four members, this translates to $26,612. This is $328 per person below the national average for health insurance coverage.  

Utility Bills 

In Arkansas, the average monthly bills are $89.52 for electricity, $100 to go towards cable, $51.04 for Internet, $40 for water, and $107.72 for gas. These bills indicate that the living cost in Arkansas is less than in Texas. When you see the cost of living in Arkansas Vs Texas then you will get it. 

Internet Bills 

The Internet is a necessary part of life and it helps you to perform your online work including office work, school work, and others like shopping. The average monthly bill for the Internet in Arkansas is about $40.  

Fitness

It is not necessary to join a gym to get fitness but due to lack of time people prefer going to the gym to doing exercise on their own. In Arkansas, if you buy the cheapest membership you need to pay $5 per month.  

Entertainment 

Entertainment is a part of life, without entertainment life gets worse. But the cost of entertainment is not the same for all regions of the State of Arkansas. So, the cost of living in Hot Spring Arkansas is low because of fewer sources of entertainment.  

Taxes

Arkansas has a 6.50% state sales tax rate, and a max local sales tax rate of 6.125%. And the average combined state and local sales tax rate of 9.47%.  

FAQ

Is It Expensive To Live In Arkansas?

Compared to the rest of the country, Arkansas has a much lower cost of living. A dollar in Arkansas supports more real spending than it does in more expensive states. C2ER’s Cost of Living Index reported that Arkansas’ cost of living is approximately 14% lower than the rest of the nation.

How Much Does It Cost To Live In Arkansas Per Year?

Francis County is the least expensive place in Arkansas. The average annual cost of living for a family of four in the area is just $60,536, $7,757 less than it is across the state as a whole.

Why Is The Cost Of Living So Low In Arkansas?

You might wonder why the cost of living is so low. It’s pretty simple: The location is exceptionally resourceful. Arkansas boasts a robust and diverse agricultural industry. Because the state is primarily self-sufficient in terms of cotton, rice, poultry, and cattle, the benefits get passed on to the people.

Is Arkansas A Safe State To Live In?

Arkansas has the fourth-highest violent crime rate and the eighth-highest property crime rate in the US. Violent crime increased by 16% in The Natural State year over year, and property crime decreased by 8%.

Why Is Arkansas House So Cheap?

Low demand to live in Arkansas (for whatever the reason, low job growth, now a desirable place to live, etc) causes low movement of inventory, which would cause low pricing (in order to move inventory quicker.

Get to know more such amazing facts by visiting Beingcost.

Conclusion 

While going through the article you become knowledgeable about the cost of living in the State of Arkansas. And you know that there is not so much cost of living in the state of Arkansas. You can easily survive there with a median salary job. After reading this article you can also compare the cost of living in Arkansas Vs California easily. This is all about the cost of living in Arkansas.

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