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Cost of Living in Arkansas

Is it better to rent or buy in Arkansas? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$65,179
$969/mo

Median in area: $969

$199,934

Median in area: $199,934

$39,987

If you Rent

🔑
$1,157 /mo
Base Rent$969
Est. Utilities$188
% of Income21.3%
Pre-tax Residual$4,275

If you Buy

🏠
$1,451 /mo
P&I (6.925%)$1,056
Taxes & Ins$207
Est. Utilities$188
% of Income26.7%
Pre-tax Residual$3,980

Cost of Living FAQs

Is it cheaper to rent or buy in Arkansas?›

Based on median housing data, renting is currently more affordable on a monthly basis in Arkansas. The estimated all-in monthly cost for renting is $1,157, while owning a median-priced home with a 20% down payment is roughly $1,451 per month (a difference of $294).

How much do utilities cost in Arkansas?›

The average monthly utility cost (electricity and natural gas) for a typical home in Arkansas is approximately $188. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Arkansas?›

To comfortably afford the median rent and utilities in Arkansas without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $46,280 per year.