Benton cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBentonArkansasNational
Cost of living index9284100
IndexBentonArkansasNational
Goods & Services index9693100
Groceries index9393100
Health care index9088100
Housing index7865100
Transportation index9389100
Utilities index11697100
A general overview of the cost of living index for Benton, AR is displayed above. In Benton, AR, the overall cost of living index is 92, which is 9% higher than the Arkansas average and 8% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Benton, AR, the city's goods and services are 4% higher than the Arkansas average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Benton is 9% higher than the Arkansas average.
  • The cost of living in Benton is 8% lower than the national average.
  • The cost of housing in Benton is 22% lower than the national average.
  • Arkansas general sales tax is 28% higher than the national average.
  • Arkansas state income tax is 60% lower than the national average.

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Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Benton, AR would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Benton, AR, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Benton, AR salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,479$5,207$1,458$1,875
Renters$32,042$2,670$748$961
The affordability of the housing market in Benton, AR as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Benton, AR homeowners, the median income is $62,479. This indicates that a monthly maximum of $1,458 should be spent by homeowners on all housing related costs. Renters have a median income of $32,042. This indicates that renters should have a maximum of $748 used for their rent related monthly costs.

Arkansas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Arkansas6.5%11.625%

Arkansas Income Tax

StateIncome Tax (Low)Income Tax (High)
Arkansas0.9%6.9%
When you are determining the total cost of living in Benton, AR you will want to make sure you consider both the Arkansas sales tax and the Arkansas income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Arkansas is 6.5%, with the highest surtax being 11.625%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Arkansas have a range from 0.9% to 6.9%.

Goods & Services

ItemBentonNational avg.Difference
Haircut $15.27$15.561.9%
Beauty Salon $39.93$36.1110.6%
Toothpaste $1.89$2.4723.7%
Shampoo $0.78$0.9619.5%
Movie $10.27$10.131.4%
Bowling $4.08$4.7413.8%

Groceries

ItemBentonNational avg.Difference
Ground Beef $3.65$3.988.3%
Fried Chicken $1.12$1.4120.2%
Milk $2.02$2.062.0%
Potatoes $2.89$2.983.2%
Pizza $8.32$9.4712.1%
Beer $8.85$8.790.6%

Health Care

ItemBentonNational avg.Difference
Optometrist $87.94$101.0413.0%
Doctor $110.39$107.442.7%
Dentist $67.06$90.4225.8%
Ibuprofen $8.56$9.287.7%
Lipitor $434.74$426.501.9%

Housing

ItemBentonNational avg.Difference
Home Price $135,700.00$175,700.0022.8%
Avg. Mortgage Payment $1,059.22$1,133.236.5%
Apartment Rent $748.00$920.0018.7%

Transportation

ItemBentonNational avg.Difference
Gasoline $1.87$1.996.4%
Tire Balancing $41.73$45.768.8%

Utilities

ItemBentonNational avg.Difference
All Electricity$145.79$163.8111.0%
Phone $43.22$28.3952.3%
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, StatePopulationCost of Living IndexNational Avg.
Magnet Cove, AR097-3%
Salem, AR1,50680-20%
Perla, AR17282-18%
Malvern, AR10,69582-18%
Lonsdale, AR14884-16%
Benton, AR32,20892-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Juneau, AK32,20013636%
Massillon, OH32,22486-14%
Lewiston, ID32,17897-3%
Fort Hood, TX32,17779-21%
Tooele, UT32,16494-6%
Benton, AR32,20892-8%
Source: The Benton, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.