Sherwood 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.
Cost of living index9486100
Goods & Services index9896100
Groceries index9595100
Health care index8588100
Housing index8365100
Transportation index9892100
Utilities index109102100
Displayed above is a general overview of the Sherwood, AR cost of living index. The overall cost of living index in Sherwood, AR is 94, which is 9% higher than the Arkansas average and 6% 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 Sherwood, AR are 3% higher than the Arkansas average and 2% lower than the national average.

Did you know?

  • The cost of living in Sherwood is 9% higher than the Arkansas average.
  • The cost of living in Sherwood is 6% lower than the national average.
  • The cost of housing in Sherwood is 17% 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.

Find Real Estate Listings In Sherwood


New Real Estate Listings In Sherwood

Compare Sherwood, AR Cost of living To Other Cities

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
The salary calculator is used in order to provide a comparison of your current salary in Sherwood, AR to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Sherwood, AR, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Sherwood, AR salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Sherwood, 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 Sherwood, AR have a median income of $71,002. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,657 per month to avoid calamity and poverty. The renters in the city have an income of about $33,330, which would make their monthly maximum allowable rental costs $778.

Arkansas Sales Tax

StateGeneral Sales TaxWith Max Surtax

Arkansas Income Tax

StateIncome Tax (Low)Income Tax (High)
When considering the overall cost of living expenses in Sherwood, 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

ItemSherwoodNational 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%


ItemSherwoodNational 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

ItemSherwoodNational 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%


ItemSherwoodNational avg.Difference
Home Price $144,700.00$175,700.0017.6%
Avg. Mortgage Payment $1,047.71$1,081.033.1%
Apartment Rent $792.00$920.0013.9%


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


ItemSherwoodNational 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.
Scott, AR2199-1%
College Station, AR80780-20%
McAlmont, AR1,72182-18%
Sweet Home, AR62783-17%
Keo, AR21783-17%
Sherwood, AR30,06194-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Leander, TX30,04097-3%
Madison Heights, MI30,02885-15%
Texarkana, AR30,01590-10%
Santa Paula, CA29,99012424%
Morgantown, WV30,1331000%
Sherwood, AR30,06194-6%
Source: The Sherwood, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.