Alma, AR Cost Of Living

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Alma 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.
Index	Alma	Arkansas	National
Cost of living index	85	84	100
Index	Alma	Arkansas	National
Goods & Services index	91	95	100
Groceries index	91	90	100
Health care index	82	86	100
Housing index	73	65	100
Transportation index	91	83	100
Utilities index	91	91	100

The above illustration supplies generalized information for the Alma, AR cost of living index. Compared to other cities in Arkansas and cities across the country, the cost of living index in Alma, AR is 85, which is 2% higher than the Arkansas average and 15% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Alma, AR are 5% lower than the average for Arkansas and 9% lower than the rest of the country.

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Did you know?

The cost of living in Alma is 2% higher than the Arkansas average.
The cost of living in Alma is 15% lower than the national average.
The cost of housing in Alma is 27% 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 Alma, AR Cost of living To Other Cities

Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Alma, AR to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Alma, AR, you have to earn a higher income in order to still have the same standard of living. To operate the Alma, AR salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$57,088	$4,757	$1,332	$1,713
Renters	$31,095	$2,591	$726	$933

The affordability of the housing market in Alma, 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 Alma, AR homeowners, the median income is $57,088. This indicates that a monthly maximum of $1,332 should be spent by homeowners on all housing related costs. Renters have a median income of $31,095. This indicates that renters should have a maximum of $726 used for their rent related monthly costs.

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	0.9%	6.9%

One thing to keep in mind when considering the cost of living in Alma, AR is the Arkansas sales tax and Arkansas income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Arkansas sales tax rate is 6.5% and the maximum surtax that can be charged is 11.625%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Arkansas income tax rates range from 0.9% to 6.9%.

Goods & Services

Item	Alma	National avg.	Difference
Haircut	$17.98	$17.49	2.8%
Beauty Salon	$32.46	$38.17	15.0%
Toothpaste	$1.49	$2.32	35.8%
Shampoo	$0.78	$1.01	22.9%
Movie	$10.00	$10.72	6.8%
Bowling	$17.50	$13.86	26.3%

Groceries

Item	Alma	National avg.	Difference
Ground Beef	$3.55	$3.90	9.0%
Fried Chicken	$1.06	$1.40	24.1%
Milk	$1.08	$1.96	45.0%
Potatoes	$2.88	$3.18	9.5%
Pizza	$8.00	$10.39	23.0%
Beer	$8.47	$9.23	8.2%

Health Care

Item	Alma	National avg.	Difference
Optometrist	$67.50	$106.34	36.5%
Doctor	$82.50	$115.25	28.4%
Dentist	$82.50	$98.38	16.1%
Ibuprofen	$7.97	$9.26	13.9%
Lipitor	$454.00	$466.47	2.7%

Housing

Item	Alma	National avg.	Difference
Home Price	$137,900.00	$184,700.00	25.3%
Avg. Mortgage Payment	$954.88	$1,273.32	25.0%
Apartment Rent	$654.00	$949.00	31.1%

Transportation

Item	Alma	National avg.	Difference
Gasoline	$2.38	$2.59	8.0%
Tire Balancing	$45.00	$48.90	8.0%

Utilities

Item	Alma	National avg.	Difference
All Electricity	$134.44	$167.60	19.8%
Phone	$190.30	$163.42	16.4%

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, State	Population	Cost of Living Index	National Avg.
Moffett, OK	140	73	-27%
Chester, AR	174	76	-24%
Branch, AR	363	76	-24%
Arkoma, OK	1,912	76	-24%
Mountainburg, AR	614	77	-23%
Alma, AR	5,599	85	-15%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Vinita, OK	5,599	79	-21%
Newmarket, NH	5,597	111	11%
Kensington, CA	5,602	200	100%
Zeeland, MI	5,595	89	-11%
Wellston, OH	5,595	82	-18%
Alma, AR	5,599	85	-15%

Source: The Alma, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Alma, AR Cost of Living