Fort Smith 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.
IndexFort SmithArkansasNational
Cost of living index8586100
IndexFort SmithArkansasNational
Goods & Services index9396100
Groceries index9295100
Health care index9088100
Housing index6565100
Transportation index9192100
Utilities index103102100
A general summary of the cost of living index in Fort Smith, AR is shown above. Compared to the state average of Arkansas the cost of living index in Fort Smith, AR is 85, which is 1% lower than the average in Arkansas and compared to the national average it is 15% 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 Fort Smith, 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 Fort Smith is 1% lower than the Arkansas average.
  • The cost of living in Fort Smith is 15% lower than the national average.
  • The cost of housing in Fort Smith is 35% 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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The salary calculator is used in order to provide a comparison of your current salary in Fort Smith, 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 Fort Smith, AR, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Fort Smith, 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$52,977$4,415$1,236$1,589
Renters$24,378$2,032$569$731
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Fort Smith, 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 Fort Smith, AR homeowners, is $52,977. This would allow for a maximum of $1,236 per month to be spent on housing costs. For renters, the median monthly income is $24,378 which would result in a maximum of $569 to be spent on rental 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 Fort Smith, 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

ItemFort SmithNational avg.Difference
Haircut $13.60$14.596.8%
Beauty Salon $30.40$34.6812.3%
Toothpaste $2.45$2.470.9%
Shampoo $0.82$1.0219.8%
Movie $9.00$9.878.8%
Bowling $2.93$4.3933.3%

Groceries

ItemFort SmithNational avg.Difference
Ground Beef $4.82$4.487.7%
Fried Chicken $1.07$1.4626.9%
Milk $2.61$2.3610.7%
Potatoes $3.39$3.0610.7%
Pizza $10.10$9.249.3%
Beer $9.30$8.637.7%

Health Care

ItemFort SmithNational avg.Difference
Optometrist $96.25$99.783.5%
Doctor $88.20$105.0316.0%
Dentist $79.75$88.7010.1%
Ibuprofen $7.97$9.4115.3%
Lipitor $295.31$298.501.1%

Housing

ItemFort SmithNational avg.Difference
Home Price $113,500.00$175,700.0035.4%
Avg. Mortgage Payment $869.39$1,081.0319.6%
Apartment Rent $620.00$920.0032.6%

Transportation

ItemFort SmithNational avg.Difference
Gasoline $1.80$2.0913.7%
Tire Balancing $46.33$45.292.3%

Utilities

ItemFort SmithNational avg.Difference
All Electricity$157.83$170.807.6%
Phone $33.40$28.2618.2%
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.
Rudy, AR7674-26%
Belfonte, OK39076-24%
Long, OK33576-24%
Short, OK37377-23%
Moffett, OK12277-23%
Fort Smith, AR87,19385-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Norwalk, CT87,21414747%
San Leandro, CA87,15914040%
Newton, MA86,94519090%
Chico, CA87,51712929%
Greenville, NC87,54694-6%
Fort Smith, AR87,19385-15%
Source: The Fort Smith, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.