Malvern 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.
IndexMalvernArkansasNational
Cost of living index8386100
IndexMalvernArkansasNational
Goods & Services index9896100
Groceries index9895100
Health care index9288100
Housing index4965100
Transportation index9192100
Utilities index105102100
An overview of the general cost of living index for Malvern, AR is displayed above for your reference. Residents in Malvern, AR enjoy a cost of living index of 83. This index is 4% lower than the Arkansas average, and 17% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Malvern, AR, the average cost of goods and services is 3% higher than it is in Arkansas, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Malvern is 4% lower than the Arkansas average.
  • The cost of living in Malvern is 17% lower than the national average.
  • The cost of housing in Malvern is 51% 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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Health care index
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The salary calculator is meant to help you compare your salary in Malvern, 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 Malvern, AR, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Malvern, 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$34,819$2,902$812$1,045
Renters$22,829$1,902$533$685
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Malvern, AR, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Malvern, AR has a median income of about $34,819 for people who own homes. Based on that number, a person should spend a maximum of $812 on expenses related to housing. Renters have a slightly different median income, which is $22,829. Based on this average, renters should spend no more than $533 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Malvern, 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

ItemMalvernNational avg.Difference
Haircut $15.25$14.594.5%
Beauty Salon $28.00$34.6819.3%
Toothpaste $1.85$2.4725.2%
Shampoo $0.98$1.024.1%
Movie $9.75$9.871.2%
Bowling $3.75$4.3914.6%

Groceries

ItemMalvernNational avg.Difference
Ground Beef $4.77$4.486.6%
Fried Chicken $1.39$1.465.1%
Milk $2.22$2.365.8%
Potatoes $2.55$3.0616.7%
Pizza $9.55$9.243.3%
Beer $8.54$8.631.1%

Health Care

ItemMalvernNational avg.Difference
Optometrist $125.00$99.7825.3%
Doctor $100.00$105.034.8%
Dentist $76.00$88.7014.3%
Ibuprofen $8.71$9.417.5%
Lipitor $265.06$298.5011.2%

Housing

ItemMalvernNational avg.Difference
Home Price $68,500.00$175,700.0061.0%
Avg. Mortgage Payment $859.33$1,081.0320.5%
Apartment Rent $670.00$920.0027.2%

Transportation

ItemMalvernNational avg.Difference
Gasoline $2.00$2.094.4%
Tire Balancing $35.40$45.2921.8%

Utilities

ItemMalvernNational avg.Difference
All Electricity$150.51$170.8011.9%
Phone $36.01$28.2627.4%
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.
Magnet Cove, AR098-2%
Donaldson, AR30079-21%
Leola, AR72379-21%
Poyen, AR29983-17%
Perla, AR17283-17%
Malvern, AR10,69583-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Vermillion, SD10,69789-11%
Lighthouse Point, FL10,69312323%
Darby, PA10,6891000%
Seymour, TN10,70389-11%
Arkadelphia, AR10,70387-13%
Malvern, AR10,69583-17%
Source: The Malvern, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.