Cost Of Living in Greenwood, 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	Greenwood	Arkansas	National
Cost of living	91	86	100
Goods & Services	102	98	100
Groceries	92	95	100
Health care	101	88	100
Housing	75	65	100
Transportation	96	90	100
Utilities	94	92	100

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Cost Of Living Quick Facts

The cost of living in Greenwood is 6% higher than the Arkansas average
The cost of living in Greenwood is 9% lower than the national average
Greenwood housing is 25% 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	$67,277	$5,606	$1,570	$2,019
Renters	$39,879	$3,323	$930	$1,196

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Greenwood, AR, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Greenwood homeowners, is $67,277. This would allow for a maximum of $1,570 per month to be spent on housing costs. For renters, the median monthly income is $39,879 which would result in a maximum of $930 to be spent on rental costs.

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	Greenwood	National avg.	Difference
Haircut	$21.65	$24.26	10.8%
Beauty Salon	$45.00	$45.56	1.2%
Toothpaste	$3.68	$3.70	0.5%
Shampoo	$1.08	$1.28	15.5%
Movie	$11.50	$12.13	5.2%
Bowling	$14.71	$18.00	18.3%

Groceries

Item	Greenwood	National avg.	Difference
Ground Beef	$5.81	$5.84	0.4%
Fried Chicken	$1.39	$1.57	11.8%
Milk	$4.52	$4.67	3.2%
Potatoes	$5.22	$4.93	5.9%
Pizza	$10.10	$12.09	16.4%
Beer	$10.21	$10.41	2.0%

Health Care

Item	Greenwood	National avg.	Difference
Optometrist	$99.78	$125.68	20.6%
Doctor	$108.55	$135.78	20.1%
Dentist	$83.89	$113.29	26.0%
Ibuprofen	$10.16	$10.65	4.6%
Lipitor	$454.89	$468.60	2.9%

Housing

Item	Greenwood	National avg.	Difference
Home Price	$135,300.00	$184,700.00	26.7%
Avg. Mortgage Payment	$1,863.97	$2,346.69	20.6%
Apartment Rent	$758.00	$949.00	20.1%

Transportation

Item	Greenwood	National avg.	Difference
Gasoline	$3.01	$3.46	13.0%
Tire Balancing	$52.21	$59.92	12.9%

Utilities

Item	Greenwood	National avg.	Difference
All Electricity	$150.82	$193.99	22.3%
Phone	$203.29	$192.25	5.7%

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.
Moffett, OK	91	78	22.3%
Huntington, AR	522	81	19.1%
Hartford, AR	758	81	18.7%
Arkoma, OK	1,841	82	18.1%
Midland, AR	341	83	16.7%
Greenwood, AR	9,392	91	8.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Monticello, AR	9,392	80	19.8%
Cairo, GA	9,395	87	13.0%
Coaldale, AB	9,383	n/a
Fairview, OR	9,382	123	22.7%
Audubon, PA	9,379	127	26.8%
Greenwood, AR	9,392	91	8.9%

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 Greenwood, AR