Hope, AR Cost Of Living
Cost Of Living In Hope, AR Summary
Cost of living in Hope research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hope is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Arkansas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hope is 77, with 100 being the average.
The cost of living index in Hope is 0.8x lower than the national average.
Hope ranks as the #3 cheapest in Arkansas out of 65.
Hope ranks as the #78 cheapest out of 6,412 in the US.
The median home value in Hope is $83,200.
The median income in Hope is $42,122.
Table Of Contents
Hope's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Hope, AR?
According to the most recent data on the cost of living, Hope has an overall cost of living index of 77, which is 0.8x lower than the national index of 100.
Compared to Arkansas, Hope has a cost of living index that's 0.9x lower than Arkansas's index of 90.
The standard of living in Hope ranks as #3 most affordable out of the 65 places we measured in Arkansas. By definition, that implies Hope ranks as the #62 most expensive place in the Natural State.
For more reading on life in Hope, check out:
- Living In Hope
- Hope Crime Report
- Search Homes For Sale In Hope, AR
In Arkansas
In America
Hope Cost Of Living Vs. Arkansas
Six factors go into calculating the cost of living index in Hope. Here is how it fairs on each of the criteria:
The Services index in Hope is 97.
The Groceries index in Hope is 97.
The Health index in Hope is 94.
The Housing index in Hope is 49.
The Transportation index in Hope is 78.
The Utilities index in Hope is 89.
| Living Expense | Hope | Arkansas | National Average | |
|---|---|---|---|---|
| Overall | 77 | 90 | 100 | |
| Services | 97 | 98 | 100 | |
| Groceries | 97 | 94 | 100 | |
| Health | 94 | 85 | 100 | |
| Housing | 49 | 76 | 100 | |
| Transportation | 78 | 90 | 100 | |
| Utilities | 89 | 95 | 100 | |
Hope, AR Housing Cost Breakdown
Housing swings affordability the most between places in Arkansas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Hope is $83,200.
The Median Rent in Hope is $716.
The Median Income in Hope is $42,122.
The Home Value To Income in Hope is 2.0x.
The Rent To Monthly Income in Hope is 0.2x.
| Statistic | Hope | Arkansas | United States |
|---|---|---|---|
| Median Home Value | $83,200 | $142,100 | $244,900 |
| Median Rent | $716 | $803 | $1,163 |
| Median Income | $42,122 | $52,123 | $69,021 |
| Home Value To Income | 2.0x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Hope, AR Costs By Category
Detailed Hope Services Costs Vs. Arkansas
Detailed Hope Groceries Costs Vs. Arkansas
Detailed Hope Health Costs Vs. Arkansas
Detailed Hope Transportation Costs Vs. Arkansas
Detailed Hope Utilities Costs Vs. Arkansas
Hope SnackAbility
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Cost Of Living In Cities Around Hope
The cost of living varies in the cities and towns around Hope. Here's a quick look at the cost of living in the most populous nearby places:
Texarkana, TX has a cost of living index of 83, 1.1x Hope.
Texarkana, AR has a cost of living index of 83, 1.1x Hope.
Magnolia, AR has a cost of living index of 83, 1.1x Hope.
| City | Population | Cost Of Living | Vs. Hope |
|---|---|---|---|
| Texarkana, TX | 36,256 | 83 | 1.1x |
| Texarkana, AR | 29,492 | 83 | 1.1x |
| Magnolia, AR | 11,205 | 83 | 1.1x |
| Camden, AR | 10,644 | 80 | 1.0x |
| Arkadelphia, AR | 10,332 | 84 | 1.1x |
