A
1%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
9%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Centerton Arkansas National
Cost of living10186100
Goods & Services10298100
Groceries9295100
Health care10188100
Housing10965100
Transportation9690100
Utilities9492100

An Overview of Cost of Living in Centerton, AR

The cost of living in Centerton affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Centerton is 101, which is 1% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Centerton aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Centerton residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Centerton Affordable?

Is Centerton affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Centerton, for instance, where the median home price falls 5.9% higher than the national average, and monthly rent rates are 17.7% higher than usual. Additionally, median income levels contribute to the equation, with Centerton flaunting a median household income of $85,531, 54.6% higher than the national norm.

What Factors can Influence the Cost of Living in Centerton?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Centerton, the housing index is 9.4% higher than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Centerton, the groceries index is 8% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The cost of living data in Centerton displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Centerton is 18% higher than the Arkansas average
  • The cost of living in Centerton is 1% higher than the national average
  • Centerton housing is 9% higher than the national average
  • Arkansas general sales tax is 27% higher than the national average
  • Arkansas state income tax is 11% lower than the national average

Most Affordable Places to Live in and Around Centerton

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Compare Centerton, AR Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$96,457$8,038$2,251$2,894
      Renters$70,128$5,844$1,636$2,104
      To approximate the cost of living and the housing affordability in Centerton, AR, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Centerton have a median income of $96,457. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,251 per month to avoid calamity and poverty. The renters in the city have an income of about $70,128, which would make their monthly maximum allowable rental costs $1,636.

      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% 5.5%

      Goods & Services

      Item Centerton National avg. Difference
      Haircut $21.65$24.2610.8%
      Beauty Salon $45.00$45.561.2%
      Toothpaste $3.68$3.700.5%
      Shampoo $1.08$1.2815.5%
      Movie $11.50$12.135.2%
      Bowling $14.71$18.0018.3%

      Groceries

      Item Centerton National avg. Difference
      Ground Beef $5.81$5.840.4%
      Fried Chicken $1.39$1.5711.8%
      Milk $4.52$4.673.2%
      Potatoes $5.22$4.935.9%
      Pizza $10.10$12.0916.4%
      Beer $10.21$10.412.0%

      Health Care

      Item Centerton National avg. Difference
      Optometrist $99.78$125.6820.6%
      Doctor $108.55$135.7820.1%
      Dentist $83.89$113.2926.0%
      Ibuprofen $10.16$10.654.6%
      Lipitor $454.89$468.602.9%

      Housing

      Item Centerton National avg. Difference
      Home Price $195,600.00$184,700.005.9%
      Avg. Mortgage Payment $1,863.97$2,346.6920.6%
      Apartment Rent $1,117.00$949.0017.7%

      Transportation

      Item Centerton National avg. Difference
      Gasoline $3.01$3.4613.0%
      Tire Balancing $52.21$59.9212.9%

      Utilities

      Item Centerton National avg. Difference
      All Electricity $150.82$193.9922.3%
      Phone $203.29$192.255.7%
      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.
      Springtown, AR136982.1%
      Noel, MO2,0518218.4%
      Decatur, AR1,5368514.7%
      Gravette, AR3,456909.5%
      Gentry, AR3,963928.4%
      Centerton, AR15,3451011.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leduc County, AB15,344n/a 
      Clarksdale, MS15,3427821.5%
      Westbury, NY15,33915554.7%
      Berkley, MI15,3521066.4%
      Sainte-Anne-des-Plaines, QC15,334n/a 
      Centerton, AR15,3451011.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.