Conway 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.
IndexConwayArkansasNational
Cost of living index9586100
IndexConwayArkansasNational
Goods & Services index9896100
Groceries index9595100
Health care index8588100
Housing index8765100
Transportation index9892100
Utilities index109102100
Displayed above is a general overview of the Conway, AR cost of living index. The overall cost of living index in Conway, AR is 95, which is 10% higher than the Arkansas average and 5% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Conway, AR are 3% higher than the Arkansas average and 2% lower than the national average.

Did you know?

  • The cost of living in Conway is 10% higher than the Arkansas average.
  • The cost of living in Conway is 5% lower than the national average.
  • The cost of housing in Conway is 13% 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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Goods & Services index
Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Conway, AR to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Conway, AR, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Conway, AR salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$73,285$6,107$1,710$2,199
Renters$28,354$2,363$662$851
One can approximate the cost of living and the housing affordability in Conway, AR by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Conway, AR have a median income of $73,285. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,710 per month to avoid calamity and poverty. The renters in the city have an income of about $28,354, which would make their monthly maximum allowable rental costs $662.

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 Conway, 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

ItemConwayNational avg.Difference
Haircut $15.20$14.594.2%
Beauty Salon $39.80$34.6814.8%
Toothpaste $1.68$2.4732.1%
Shampoo $0.90$1.0211.9%
Movie $9.50$9.873.7%
Bowling $3.95$4.3910.1%

Groceries

ItemConwayNational avg.Difference
Ground Beef $3.95$4.4811.8%
Fried Chicken $1.21$1.4617.4%
Milk $2.33$2.361.1%
Potatoes $2.84$3.067.2%
Pizza $7.99$9.2413.6%
Beer $8.82$8.632.2%

Health Care

ItemConwayNational avg.Difference
Optometrist $86.00$99.7813.8%
Doctor $90.50$105.0313.8%
Dentist $65.00$88.7026.7%
Ibuprofen $7.98$9.4115.2%
Lipitor $295.98$298.500.8%

Housing

ItemConwayNational avg.Difference
Home Price $158,500.00$175,700.009.8%
Avg. Mortgage Payment $1,047.71$1,081.033.1%
Apartment Rent $723.00$920.0021.4%

Transportation

ItemConwayNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $37.25$45.2917.7%

Utilities

ItemConwayNational avg.Difference
All Electricity$150.55$170.8011.9%
Phone $39.29$28.2639.0%
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.
Fourche, AR10078-22%
Bigelow, AR32782-18%
Menifee, AR36984-16%
Plumerville, AR86785-15%
Holland, AR49185-15%
Conway, AR62,45595-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Marysville, WA62,47211313%
Tamarac, FL62,47896-4%
Hamilton, OH62,36686-14%
Castro Valley, CA62,36316161%
Madera, CA62,5591022%
Conway, AR62,45595-5%
Source: The Conway, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.