Magnolia 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.
IndexMagnoliaArkansasNational
Cost of living index9086100
IndexMagnoliaArkansasNational
Goods & Services index11496100
Groceries index9295100
Health care index8688100
Housing index6265100
Transportation index8992100
Utilities index96102100
A general summary of the cost of living index in Magnolia, AR is shown above. Compared to the state average of Arkansas the cost of living index in Magnolia, AR is 90, which is 4% higher than the average in Arkansas and compared to the national average it is 10% 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 Magnolia, AR goods and services come in at 19% higher than the average in Arkansas and are 14% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Magnolia is 4% higher than the Arkansas average.
  • The cost of living in Magnolia is 10% lower than the national average.
  • The cost of housing in Magnolia is 38% 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 meant to help you compare your salary in Magnolia, 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 Magnolia, AR, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Magnolia, 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$55,614$4,635$1,298$1,669
Renters$17,973$1,498$419$539
One can approximate the cost of living and the housing affordability in Magnolia, 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 Magnolia, AR have a median income of $55,614. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,298 per month to avoid calamity and poverty. The renters in the city have an income of about $17,973, which would make their monthly maximum allowable rental costs $419.

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 assessing the complete cost of living in Magnolia, AR, the Arkansas income tax and the Arkansas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Arkansas maximum surtax is 11.625%, and the Arkansas sales tax is 6.5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.9% to 6.9% in Arkansas.

Goods & Services

ItemMagnoliaNational avg.Difference
Haircut $10.33$14.5929.2%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.07$2.4716.3%
Shampoo $0.90$1.0211.9%
Movie $8.75$9.8711.3%
Bowling $3.86$4.3912.1%

Groceries

ItemMagnoliaNational avg.Difference
Ground Beef $4.63$4.483.4%
Fried Chicken $1.41$1.463.7%
Milk $2.64$2.3612.0%
Potatoes $2.61$3.0614.7%
Pizza $10.16$9.249.9%
Beer $8.72$8.631.0%

Health Care

ItemMagnoliaNational avg.Difference
Optometrist $59.33$99.7840.5%
Doctor $98.00$105.036.7%
Dentist $69.50$88.7021.6%
Ibuprofen $7.67$9.4118.5%
Lipitor $291.75$298.502.3%

Housing

ItemMagnoliaNational avg.Difference
Home Price $105,900.00$175,700.0039.7%
Avg. Mortgage Payment $826.57$1,081.0323.5%
Apartment Rent $618.00$920.0032.8%

Transportation

ItemMagnoliaNational avg.Difference
Gasoline $1.84$2.0911.8%
Tire Balancing $42.00$45.297.3%

Utilities

ItemMagnoliaNational avg.Difference
All Electricity$143.40$170.8016.0%
Phone $32.01$28.2613.3%
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.
McNeil, AR49379-21%
Buckner, AR37580-20%
Stephens, AR94581-19%
Waldo, AR1,30381-19%
Emerson, AR32275-25%
Magnolia, AR11,68190-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
North Bellport, NY11,68013838%
Holly Hill, FL11,68089-11%
Lansdowne, VA11,67814848%
Terryville, NY11,68614343%
Boerne, TX11,6741011%
Magnolia, AR11,68190-10%
Source: The Magnolia, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.