Cherokee Village 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.
IndexCherokee VillageArkansasNational
Cost of living index8086100
IndexCherokee VillageArkansasNational
Goods & Services index9396100
Groceries index9295100
Health care index8688100
Housing index5465100
Transportation index8792100
Utilities index92102100
A general summary of the cost of living index in Cherokee Village, AR is shown above. Compared to the state average of Arkansas the cost of living index in Cherokee Village, AR is 80, which is 7% lower than the average in Arkansas and compared to the national average it is 20% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Cherokee Village, AR goods and services come in at 3% lower than the average in Arkansas and are 7% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Cherokee Village is 7% lower than the Arkansas average.
  • The cost of living in Cherokee Village is 20% lower than the national average.
  • The cost of housing in Cherokee Village is 46% 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

This is how much you would need to earn in
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The salary calculator is meant to help you compare your salary in Cherokee Village, AR to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Cherokee Village, AR, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Cherokee Village, AR salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$37,446$3,121$874$1,123
Renters$24,702$2,059$576$741
The affordability of the housing market in Cherokee Village, 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 Cherokee Village, AR homeowners, the median income is $37,446. This indicates that a monthly maximum of $874 should be spent by homeowners on all housing related costs. Renters have a median income of $24,702. This indicates that renters should have a maximum of $576 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 Cherokee Village, 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

ItemCherokee VillageNational avg.Difference
Haircut $13.00$14.5910.9%
Beauty Salon $23.33$34.6832.7%
Toothpaste $1.98$2.4719.9%
Shampoo $0.88$1.0213.9%
Movie $9.50$9.873.7%
Bowling $4.05$4.397.8%

Groceries

ItemCherokee VillageNational avg.Difference
Ground Beef $3.92$4.4812.4%
Fried Chicken $1.22$1.4616.7%
Milk $2.32$2.361.6%
Potatoes $2.74$3.0610.5%
Pizza $9.49$9.242.7%
Beer $8.66$8.630.3%

Health Care

ItemCherokee VillageNational avg.Difference
Optometrist $71.67$99.7828.2%
Doctor $99.00$105.035.7%
Dentist $66.67$88.7024.8%
Ibuprofen $8.32$9.4111.6%
Lipitor $291.32$298.502.4%

Housing

ItemCherokee VillageNational avg.Difference
Home Price $78,500.00$175,700.0055.3%
Avg. Mortgage Payment $849.33$1,081.0321.4%
Apartment Rent $690.00$920.0025.0%

Transportation

ItemCherokee VillageNational avg.Difference
Gasoline $1.90$2.099.3%
Tire Balancing $34.65$45.2923.5%

Utilities

ItemCherokee VillageNational avg.Difference
All Electricity$130.12$170.8023.8%
Phone $31.85$28.2612.7%
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, StatePopulationCost of Living IndexNational Avg.
Williford, AR3872-28%
Smithville, AR6373-27%
Ravenden, AR43775-25%
Mammoth Spring, AR1,03476-24%
Hardy, AR72477-23%
Cherokee Village, AR4,55480-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Baldwin City, KS4,55297-3%
Erwin, NC4,55187-13%
Scott City, MO4,55187-13%
Glendora, NJ4,5571088%
Dumas, AR4,55181-19%
Cherokee Village, AR4,55480-20%
Source: The Cherokee Village, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.