Arkansas Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

Arkansas Cost Of Living Statistics 2023: Facts about Cost Of Living in Arkansas reflect the current socio-economic condition of the state.

arkansas

LLCBuddy editorial team did hours of research, collected all important statistics on Arkansas Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start an Arkansas LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Arkansas Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top Arkansas Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 10 Arkansas Cost Of Living Statistics on this page 🙂

Arkansas Cost Of Living “Latest” Statistics

  • According to The Cost of Living Index published by the Council for Community and Economic Research, the housing utilities (buy and rent) in Arkansas are 21% lower compared to the national average.[1]
  • According to The Cost of Living Index published by the Council for Community and Economic Research, the utilities in Arkansas are 6% lower compared to the national average.[1]
  • According to The Cost of Living Index published by the Council for Community and Economic Research, food in Arkansas is 8% lower compared to the national average.[1]
  • According to The Cost of Living Index published by the Council for Community and Economic Research, healthcare in Arkansas is 21% lower compared to the national average.[1]
  • According to The Cost of Living Index published by the Council for Community and Economic Research, transportation in Arkansas is 21% lower compared to the national average.[1]
  • According to The Cost of Living Index published by the Council for Community and Economic Research, goods and services in Arkansas is 21% lower compared to the national average.[1]

Arkansas Cost Of Living “Living” Statistics

  • In the state of Arkansas, the cost of living is $1,732 which is 1.12 times less expensive than the average in the United States.[2]
  • The typical American family spends an additional 16% of its income or $9,826 on transportation each year.[3]
  • With an effective property tax rate of about 63%, Arkansas is among the 10 states with the lowest property taxes.[4]

Arkansas Cost Of Living “Other” Statistics

  • Thousands of individuals left Arkansas in search of jobs paying more, while 10% of Arkansans enlisted in the military.[5]

Also Read

How Useful is Arkansas Cost of Living

The cost of living in Arkansas is indeed low compared to other states, making it an attractive option for those looking to stretch their dollar further. Housing, groceries, utilities, and healthcare costs are all relatively affordable, allowing residents to maintain a comfortable standard of living without breaking the bank.

One of the main benefits of the low cost of living in Arkansas is that it can improve overall quality of life for residents. Lower expenses mean that individuals and families have more disposable income to spend on other things like leisure activities, education, or savings. This can contribute to a sense of financial security and stability, which in turn can lead to greater overall well-being.

Additionally, the affordable cost of living in Arkansas can also be a draw for businesses looking to relocate or expand. Lower operating costs can be attractive to entrepreneurs and companies, allowing them to invest more in their businesses and possibly create more job opportunities for residents. This can have a positive impact on the local economy and create a more vibrant and dynamic community.

However, the usefulness of the Arkansas cost of living may vary depending on individual circumstances. While lower expenses can be advantageous for many, some may find that the lack of high-paying job opportunities or limited access to certain amenities in more urban areas may outweigh the benefits of a lower cost of living. Additionally, lower costs in one area may be offset by higher costs in other areas, such as transportation or entertainment.

It is also important to consider the overall quality of life beyond just the cost of living. Factors such as education, healthcare, infrastructure, and cultural opportunities are all important aspects to consider when evaluating the usefulness of the Arkansas cost of living. While affordability is certainly a significant factor, it is not the only one that should be taken into account when deciding where to live.

In conclusion, the Arkansas cost of living can be a useful tool for those looking to save money or start a new life in a more affordable location. However, it is important to consider the full picture of what a place has to offer beyond just its affordability. Each individual’s needs and preferences may vary, so it is important to weigh all factors before making a decision about where to call home. Ultimately, the usefulness of the Arkansas cost of living will depend on the specific circumstances and priorities of each individual or family.

Reference

  1. uark – https://catalog.uark.edu/graduatecatalog/feeandgeneralinformation/
  2. usatoday – https://www.usatoday.com/story/money/business/2014/09/07/wscs-10-least-expensive-states/15075077/
  3. worldpopulationreview – https://worldpopulationreview.com/state-rankings/cost-of-living-index-by-state
  4. arkansasedc – https://www.arkansasedc.com/why-arkansas/life-in-the-natural-state/detail/cost-of-living
  5. usnews – https://www.usnews.com/news/best-states/arkansas

Leave a Comment