A+
16%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
22%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Searcy Arkansas National
Cost of living8486100
Goods & Services8398100
Groceries9695100
Health care8288100
Housing7865100
Transportation8790100
Utilities8992100

An Overview of Cost of Living in Searcy, AR

Getting a feel for the cost of living in Searcy is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Searcy is 84, which is 16% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Searcy, these goods and services are 17% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.

Is Searcy Affordable?

Is Searcy an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Searcy is 21% lower than the national average, while the average monthly rent prices are 24.8% lower than average. The affordability of any location can also be influenced by median income levels. Searcy has a median household income of $39,650, which is 28.3% lower than the national average.

What Factors can Influence the Cost of Living in Searcy?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Searcy, the prevailing sales tax rate starts at 6.5%, and income tax rates kick off at 2%.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Searcy, the housing index is 22.1% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Searcy cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Searcy is 2% lower than the Arkansas average
  • The cost of living in Searcy is 16% lower than the national average
  • Searcy housing is 22% lower than the national average
  • Arkansas general sales tax is 27% higher than the national average
  • Arkansas state income tax is 11% lower than the national average

Most Affordable Places to Live in and Around Searcy

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Compare Searcy, AR Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$55,148$4,596$1,287$1,655
      Renters$26,530$2,211$619$796
      A good indicator of the general affordability of housing in Searcy, AR, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Searcy, the median monthly income is $55,148 for those who own their own homes. Under the standard rule, that income level would allow for $1,287 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $26,530, per the median income in the area. That would allow for renters to spend up to $619 on monthly rental expenses.

      Arkansas Sales Tax

      State General Sales Tax With Max Surtax
      Arkansas 6.5% 11.625%

      Arkansas Income Tax

      State Income Tax (Low) Income Tax (High)
      Arkansas 2% 5.5%

      Goods & Services

      Item Searcy National avg. Difference
      Haircut $18.22$24.2624.9%
      Beauty Salon $24.22$45.5646.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.06$1.2817.2%
      Movie $12.30$12.131.4%
      Bowling $13.83$18.0023.1%

      Groceries

      Item Searcy National avg. Difference
      Ground Beef $6.05$5.843.7%
      Fried Chicken $1.41$1.5710.1%
      Milk $4.49$4.673.8%
      Potatoes $5.22$4.935.8%
      Pizza $10.19$12.0915.7%
      Beer $9.93$10.414.6%

      Health Care

      Item Searcy National avg. Difference
      Optometrist $92.22$125.6826.6%
      Doctor $99.44$135.7826.8%
      Dentist $87.02$113.2923.2%
      Ibuprofen $10.02$10.655.9%
      Lipitor $368.13$468.6021.4%

      Housing

      Item Searcy National avg. Difference
      Home Price $145,900.00$184,700.0021.0%
      Avg. Mortgage Payment $1,644.20$2,346.6929.9%
      Apartment Rent $714.00$949.0024.8%

      Transportation

      Item Searcy National avg. Difference
      Gasoline $3.07$3.4611.2%
      Tire Balancing $52.43$59.9212.5%

      Utilities

      Item Searcy National avg. Difference
      All Electricity $150.91$193.9922.2%
      Phone $202.72$192.255.4%
      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 Population Cost of Living Index National Avg.
      Griffithville, AR2288118.6%
      Russell, AR2737723.2%
      Kensett, AR2,2887425.8%
      McRae, AR6907524.8%
      Higginson, AR8127524.8%
      Searcy, AR23,6738416.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Newberg, OR23,67612727.0%
      Zion, IL23,677973.4%
      Windsor, CO23,67913231.5%
      North Haven, CT23,66512423.5%
      Muscatine, IA23,6619010.4%
      Searcy, AR23,6738416.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.