Sheridan 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.
IndexSheridanArkansasNational
Cost of living index9286100
IndexSheridanArkansasNational
Goods & Services index9896100
Groceries index9595100
Health care index8588100
Housing index7865100
Transportation index9892100
Utilities index109102100
Displayed above is a general overview of the Sheridan, AR cost of living index. The overall cost of living index in Sheridan, AR is 92, which is 7% higher than the Arkansas average and 8% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Sheridan, AR are 3% higher than the Arkansas average and 2% lower than the national average.

Did you know?

  • The cost of living in Sheridan is 7% higher than the Arkansas average.
  • The cost of living in Sheridan is 8% lower than the national average.
  • The cost of housing in Sheridan is 22% 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

This is how much you would need to earn in
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Cost of living index
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Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Sheridan, 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 Sheridan, AR, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Sheridan, 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$70,112$5,843$1,636$2,104
Renters$30,952$2,579$722$929
The affordability of the housing market in Sheridan, AR as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sheridan, AR homeowners, the median income is $70,112. This indicates that a monthly maximum of $1,636 should be spent by homeowners on all housing related costs. Renters have a median income of $30,952. This indicates that renters should have a maximum of $722 used for their rent related monthly 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%
The Arkansas sales tax and Arkansas income tax rates should definitely be considered when determining the overall cost of living in Sheridan, AR. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Arkansas sales tax is 6.5% and the maximum surtax is 11.625%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Arkansas income tax rates range from 0.9% to 6.9%.

Goods & Services

ItemSheridanNational avg.Difference
Haircut $15.20$14.594.2%
Beauty Salon $39.80$34.6814.8%
Toothpaste $1.68$2.4732.1%
Shampoo $0.90$1.0211.9%
Movie $9.50$9.873.7%
Bowling $3.95$4.3910.1%

Groceries

ItemSheridanNational avg.Difference
Ground Beef $3.95$4.4811.8%
Fried Chicken $1.21$1.4617.4%
Milk $2.33$2.361.1%
Potatoes $2.84$3.067.2%
Pizza $7.99$9.2413.6%
Beer $8.82$8.632.2%

Health Care

ItemSheridanNational avg.Difference
Optometrist $86.00$99.7813.8%
Doctor $90.50$105.0313.8%
Dentist $65.00$88.7026.7%
Ibuprofen $7.98$9.4115.2%
Lipitor $295.98$298.500.8%

Housing

ItemSheridanNational avg.Difference
Home Price $133,000.00$175,700.0024.3%
Avg. Mortgage Payment $1,047.71$1,081.033.1%
Apartment Rent $762.00$920.0017.2%

Transportation

ItemSheridanNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $37.25$45.2917.7%

Utilities

ItemSheridanNational avg.Difference
All Electricity$150.55$170.8011.9%
Phone $39.29$28.2639.0%
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.
Leola, AR72379-21%
Hensley, AR13480-20%
Poyen, AR29983-17%
Prattsville, AR48083-17%
Redfield, AR1,43691-9%
Sheridan, AR4,74992-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Shaw Heights, CO4,7491022%
Fox River Grove, IL4,74911414%
East Harwich, MA4,74914747%
Brookridge, FL4,75086-14%
Utica, MI4,74788-12%
Sheridan, AR4,74992-8%
Source: The Sheridan, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.