Cost Of Living in Colt, AR

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Colt	Arkansas	National
Cost of living	73	86	100
Goods & Services	94	98	100
Groceries	100	95	100
Health care	87	88	100
Housing	27	65	100
Transportation	88	90	100
Utilities	90	92	100

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Cost Of Living Quick Facts

The cost of living in Colt is 15% lower than the Arkansas average
The cost of living in Colt is 27% lower than the national average
Colt housing is 73% lower than the national average
Arkansas general sales tax is 27% higher than the national average
Arkansas state income tax is 23% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$42,321	$3,527	$987	$1,270
Renters	$11,683	$974	$273	$351

Arkansas Sales Tax

State	General Sales Tax	With Max Surtax
Arkansas	6.5%	11.625%

Arkansas Income Tax

State	Income Tax (Low)	Income Tax (High)
Arkansas	2%	4.9%

Goods & Services

Item	Colt	National avg.	Difference
Haircut	$26.94	$24.26	11.0%
Beauty Salon	$41.92	$45.56	8.0%
Toothpaste	$3.62	$3.70	2.1%
Shampoo	$1.11	$1.28	13.1%
Movie	$11.99	$12.13	1.2%
Bowling	$13.75	$18.00	23.6%

Groceries

Item	Colt	National avg.	Difference
Ground Beef	$6.10	$5.84	4.5%
Fried Chicken	$1.46	$1.57	7.0%
Milk	$4.71	$4.67	0.8%
Potatoes	$5.15	$4.93	4.3%
Pizza	$10.66	$12.09	11.8%
Beer	$9.95	$10.41	4.4%

Health Care

Item	Colt	National avg.	Difference
Optometrist	$77.39	$125.68	38.4%
Doctor	$124.94	$135.78	8.0%
Dentist	$91.51	$113.29	19.2%
Ibuprofen	$10.19	$10.65	4.4%
Lipitor	$518.09	$468.60	10.6%

Housing

Item	Colt	National avg.	Difference
Home Price	$49,100.00	$184,700.00	73.4%
Avg. Mortgage Payment	$2,240.45	$2,346.69	4.5%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

Item	Colt	National avg.	Difference
Gasoline	$3.14	$3.46	9.3%
Tire Balancing	$55.67	$59.92	7.1%

Utilities

Item	Colt	National avg.	Difference
All Electricity	$163.38	$193.99	15.8%
Phone	$192.72	$192.25	0.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Widener, AR	221	74	26.1%
Parkin, AR	739	74	25.8%
Madison, AR	1,055	75	24.8%
Palestine, AR	838	78	21.9%
Forrest City, AR	14,062	80	20.4%
Colt, AR	325	73	26.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Oak Shores, CA	325	156	56.1%
Eldorado Springs, CO	325	100	0.1%
Bronson, IA	325	90	10.1%
Oldtown, ID	325	98	2.4%
Hanaford, IL	325	83	16.7%
Colt, AR	325	73	26.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Colt, AR