Arkansas is one of the cheapest states in the United States. The housing, healthcare, and transportation costs are comparatively lower than in several states. Specifically, Arkansas is very cheap for retired senior persons. It offers a deduction of $6,000 for retirement income from pensions or IRA.
Why are houses cheaper in Arkansas?
Houses in Arkansas are cheaper because the purchasing power of Arkansans is low. Indeed, wages are low in Arkansas, making homes are extremely cheap. The median home cost in Arkansas is $145,300, which is 50% lower than the national average, with a median home cost of $291,700.
Arkansas has 496 cities but only 9 of them have a population of fifty thousand or more. This lower rate of living makes apartments and real estate prices much affordable. Central Arkansas and Northwest Arkansas are the most popular areas. The average home value over here is about $140,000.
Low salaries make Arkansas a very poor state. With a median household income of $47,597, salaries in Arkansas are 20% lower than the national average, making the purchasing power of Arkansans lower and the state a poor one. Arkansas ranks 47th in poverty rate, with a per capita income of $26,577.
As mentioned before, home median costs are also cheaper here, but the utilities and groceries are comparable as in other states. More than 16.2% of Arkansas people live below the poverty line.
Is it worth living in Arkansas?
Arkansas is a place to live a slower-paced lifestyle that is more affordable than in other U.S. states. The educational system in Arkansas has a down track record and is plagued by several issues. However, the state promotes other areas of studies, and schools are in a good position.
Best places to live in cheap Arkansas
Here is the list of the 10 best places to live in Arkansas:
Listed places are best for standard living, safety, education scopes, and other flexibility. The list doesn’t mean the exact ranking. The city of Bentonville is one of the best places to live and grow up gradually in Arkansas.
Bentonville is a city where residents enjoy attractions. It has an approximately 40,000 population over the city. We’ll discuss Bentonville in this article later. The best place to live in Arkansas for you depends on your expectations, lifestyle, and comfortability.
Worst places to live in cheap Arkansas
Here is the list of 10 places not to live in Arkansas:
Listed places are not recommended based on their unstable lifestyle, rising crime rate, massive unemployment rates, or other factors. The gun owner rate is also at a peak that makes some areas in Arkansas more violent.
Some of the cities have below-average education systems, high poverty levels and obesity, lack of public transportations, and so on.
Is Arkansas a good place to live?
Arkansas is known as “The Natural State” because of its mountainous dense forestry geography. It’s one of the most affordable states with diverse job opportunities. However, the job growth has been negative recently. The growth of property and violent crime is steadily increasing.
It is the best place to live for those who find a peaceful, personal, and far from crowd life. The northeast part of Arkansas has very fertile and flat land. They grow soybeans, rice, and cotton. The crime rate is seemingly higher in this rural part of the state.
If you are really interested in moving to Arkansas, I would recommend that you check different things:
With that, you will have a better idea of what it costs to live there. Then, once you are done with checking the costs, you can watch this complete unboxing of Arkansas, telling you everything about the different parts of the state.
Why is Bentonville, Arkansas so cheap?
The median home value in Bentonville is $174,400 which is lower than the national average. So, if anyone intended to purchase a lot of property, this city is the first port to call. The utility prices are 5% and the grocery prices are 7% lower than the national average.
Bentonville is the birthplace of the world’s biggest super shop Walmart. However, it’s a place to spend some time outdoors enjoying the first-ranked weather.
When comparing Bentonville to Dallas, Texas, here are the results:
Consumer Prices Including Rent in Bentonville, AR is 18.35% lower than in Dallas, TX. Rent Prices in Bentonville, AR are 39.60% lower than in Dallas, TX. Restaurant Prices in Bentonville, AR are 19.55% lower than in Dallas, TX. Groceries Prices in Bentonville, AR are 10.23% higher than in Dallas, TX. Local Purchasing Power in Bentonville, AR is 35.84% higher than in Dallas, TX. Credits to numbeo.com for the data.
Overall, living in Arkansas is cheaper than living in Texas.
Let’s now see the factors that make people move to Bentonville.
Should I move to Bentonville, Arkansas?
At Bentonville, you’ll find the oldest buildings from 1876 or later. This area is an emerging cultural center with plenty of museums and art centers. The schools in Bentonville are the best at various national ranking factors including state test scores, graduation rates, SAT and ACT scores, etc.
Another best part of living here is its outdoor activities for the whole family. Bentonville is the mountain biking capital of the world which has over 130 miles of trails for everyone. Also, traditional and seasonal festivals are held here year-round.