Arkansas Cost Of Living Statistics


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

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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.

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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]

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How Useful is Arkansas Cost of Living

One of the biggest advantages of living in Arkansas is undoubtedly the cost of housing. Whether you’re looking to buy a home or rent an apartment, you’ll likely find that your money goes much further in Arkansas compared to other states. This is especially beneficial for first-time homebuyers or young families looking to establish roots without breaking the bank.

In addition to affordable housing, groceries in Arkansas are also relatively inexpensive. With several major grocery chains and local farmers markets offering a wide variety of affordable options, residents can find fresh produce and pantry staples without having to spend a small fortune. This is particularly beneficial for families looking to make healthy food choices without sacrificing their budgets.

Healthcare costs in Arkansas are also notably lower compared to other states. Whether you have employer-sponsored insurance or are covered under a government program like Medicaid, accessing quality healthcare in Arkansas is often much more affordable than in other parts of the country. This is an important factor to consider, especially for individuals with chronic health conditions or families with young children who may require regular medical attention.

Moreover, the overall lower cost of living in Arkansas can provide individuals and families with more financial freedom. With lower expenses on essentials like housing, groceries, and healthcare, residents may find themselves with extra money to invest in education, travel, or leisure activities. This can lead to a higher quality of life and overall well-being for those who choose to call Arkansas home.

However, it’s important to note that while Arkansas may offer a low cost of living, there are also some drawbacks to consider. With lower costs often come lower wages, which can make it challenging for some individuals to make ends meet. Additionally, some areas of Arkansas may lack certain amenities or cultural attractions that can be found in larger cities or more expensive states.

Overall, the usefulness of Arkansas’s cost of living ultimately depends on an individual’s unique circumstances and priorities. For those looking to save money, build a nest egg, or enjoy a simpler way of life, Arkansas’s affordability can be a significant advantage. However, for those seeking higher-paying jobs, more opportunities for advancement, or a more urban lifestyle, Arkansas’s cost of living may not be as beneficial.

In conclusion, while Arkansas’s cost of living may not be the lowest in the country, it certainly offers many advantages for those looking to save money and live comfortably. With affordable housing, groceries, and healthcare options, residents of Arkansas can enjoy a high quality of life without breaking the bank. As with any decision about where to live, it’s essential to weigh the pros and cons of Arkansas’s cost of living to determine if it aligns with your personal goals and aspirations.

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

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