Paragould 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.
IndexParagouldArkansasNational
Cost of living index8386100
IndexParagouldArkansasNational
Goods & Services index9396100
Groceries index9295100
Health care index8688100
Housing index6465100
Transportation index8792100
Utilities index92102100
A general overview of the cost of living index for Paragould, AR is displayed above. In Paragould, AR, the overall cost of living index is 83, which is 4% lower than the Arkansas average and 17% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Paragould, AR, the city's goods and services are 3% lower than the Arkansas average and 7% lower than the U.S. average.

Did you know?

  • The cost of living in Paragould is 4% lower than the Arkansas average.
  • The cost of living in Paragould is 17% lower than the national average.
  • The cost of housing in Paragould is 36% 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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Compare Paragould, AR Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Paragould, AR to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Paragould, AR, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Paragould, AR salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$51,079$4,257$1,192$1,533
Renters$24,014$2,001$560$720
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Paragould, 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 Paragould, AR homeowners, is $51,079. This would allow for a maximum of $1,192 per month to be spent on housing costs. For renters, the median monthly income is $24,014 which would result in a maximum of $560 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 considering the overall cost of living expenses in Paragould, AR, it's important to take into account the sales tax for Arkansas, as well as the rate for income tax in Arkansas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Arkansas is 11.625%, and the sales tax in the state of Arkansas is 6.5%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Arkansas starts from 0.9% and goes up to 6.9%.

Goods & Services

ItemParagouldNational 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

ItemParagouldNational 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

ItemParagouldNational 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

ItemParagouldNational avg.Difference
Home Price $106,500.00$175,700.0039.4%
Avg. Mortgage Payment $849.33$1,081.0321.4%
Apartment Rent $664.00$920.0027.8%

Transportation

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

Utilities

ItemParagouldNational 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.
Cardwell, MO59873-27%
Leachville, AR1,69373-27%
Delaplaine, AR5674-26%
Marmaduke, AR1,17776-24%
Monette, AR1,43776-24%
Paragould, AR26,85983-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Imperial Beach, CA26,85713131%
Jeffersontown, KY26,86297-3%
Fountain, CO26,88198-2%
Holladay, UT26,89612121%
McHenry, IL26,80399-1%
Paragould, AR26,85983-17%
Source: The Paragould, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.