What county in Arkansas has the lowest cost of living?
The county in Arkansas with the lowest cost of living is Monroe County. The average living wage in Monroe County is $75,058 according to MIT data. Monroe County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Arkansas as a whole. Childcare costs $8,062 a year in Monroe County for two children compared to the Arkansas average of $13,717. Housing costs, defined as a blend of the average rent and average mortgage payment, are $7,848 per year in Monroe County compared to $9,037 on average in Arkansas.
The average home value in Monroe County is $73,500 and the average income is $38,438 per year. Part of the reason this county has the lowest cost of living in Arkansas is a relatively high level of poverty for Arkansas and higher than average crime rates. These factors make a place less desirable to live, but also push down the cost of living.
People Also Ask About Arkansas
Is Arkansas a dangerous state?
Yes, Arkansas is a dangerous state as it ranks as the #3 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Arkansas ranks fourth most dangerous in the United States -- 81.7% worse than US average violent crime rate. The property crime rate in the Natural State ranks eighth most dangerous in the United States -- 33.72% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Little Rock, AR a dangerous city?
Yes, Little Rock is a dangerous city. Little Rock ranks as the #8 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Little Rock might be considered dangerous you still need to be aware of where you are. For example, Heights is the safest in Little Rock, while Stephens is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Little Rock ranks third highest in America -- 231.18% worse than US average violent crime rate. The property crime rate in the ranks 16th highest in the United States -- 96.01% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What is the cost of living in Arkansas?
The cost of living in Arkansas is 7.7% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Arkansas is $82,857 vs the national average for a family of four with two working parents of $89,744. The median income of a Arkansas household is $49,475.
What is the cheapest housing market in Arkansas?
The cheapest housing market in Arkansas is Forrest City. The average home value in Forrest City is $67,500, the lowest in the state. The average home value in Arkansas is $133,600, almost 2.0 times higher than Forrest City.
