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

On the surface, a lower cost of living can seem like a great benefit. It means that essentials like housing, groceries, and utilities may be more affordable in Arkansas compared to other states. This can be especially appealing for young professionals just starting out in their careers, families looking to stretch their budgets further, or retirees on a fixed income. Lower costs can make it easier to save money, afford a higher standard of living, or simply make ends meet.

However, it’s important to remember that the cost of living is just one piece of the puzzle when it comes to determining overall quality of life. While Arkansas may have lower costs in some areas, it’s essential to consider other factors that can impact daily life. For example, job opportunities, healthcare access, education systems, and quality of public services all play a significant role in deciding where to live.

A lower cost of living may be appealing, but if it comes at the cost of limited career prospects, lack of access to quality healthcare, or subpar educational options, it may not be as advantageous as it first appears. It’s crucial to weigh all these factors when making a decision about where to live, rather than focusing solely on expenses.

Additionally, the cost of living can vary widely within the state of Arkansas itself. Urban areas like Little Rock or Fayetteville may have higher costs for housing and other essentials compared to more rural regions. This means that while Arkansas may have a lower overall cost of living compared to the national average, the reality on the ground can be quite different depending on where you choose to reside.

Furthermore, the lower cost of living in Arkansas may come with its own set of disadvantages. For example, wages in the state may be lower on average compared to other states with higher costs of living. This can make it challenging for residents to earn a competitive salary or advance in their careers. Additionally, lower costs may be indicative of fewer amenities, cultural offerings, or recreational opportunities in the area.

In conclusion, while the cost of living in Arkansas may be an appealing factor for many residents, it’s essential to look at the bigger picture when considering a move to the state. Lower costs can certainly make daily life more affordable, but they are just one piece of the puzzle when it comes to overall quality of life. Residents should weigh all factors carefully before deciding whether Arkansas is the right fit for them and their families.

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