Hope 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 index7784100
Goods & Services index8992100
Groceries index9591100
Health care index9688100
Housing index4865100
Transportation index9087100
Utilities index8397100
A general summary of the cost of living index in Hope, AR is shown above. Compared to the state average of Arkansas the cost of living index in Hope, AR is 77, which is 8% lower than the average in Arkansas and compared to the national average it is 23% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Hope, AR goods and services come in at 3% lower than the average in Arkansas and are 11% lower than compared to the nationwide average.

Find Real Estate Listings In Hope


New Real Estate Listings In Hope

How would you rate the cost of living in Hope?View resultsWrite a review to give others more information about this area.
Is the cost of living increasing or decreasing in Hope?View resultsWrite a review to give others more information about this area.

Did you know?

  • The cost of living in Hope is 8% lower than the Arkansas average.
  • The cost of living in Hope is 23% lower than the national average.
  • The cost of housing in Hope is 52% 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.

Real Estate Listings In Hope

Compare Hope, 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 allows you to compare how much your current salary in Hope, AR would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Hope, AR, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hope, AR salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Hope, AR, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Hope, AR has a median income of about $41,047 for people who own homes. Based on that number, a person should spend a maximum of $958 on expenses related to housing. Renters have a slightly different median income, which is $20,128. Based on this average, renters should spend no more than $470 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Hope, 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

ItemHopeNational avg.Difference
Haircut $11.97$16.0925.6%
Beauty Salon $31.36$37.3316.0%
Toothpaste $2.57$2.455.1%
Shampoo $0.84$1.0016.0%
Movie $7.39$10.2828.1%
Bowling $3.79$4.9323.2%


ItemHopeNational avg.Difference
Ground Beef $4.04$3.806.2%
Fried Chicken $1.08$1.4022.4%
Milk $1.95$2.012.9%
Potatoes $3.29$3.019.3%
Pizza $10.19$9.893.1%
Beer $9.03$8.901.5%

Health Care

ItemHopeNational avg.Difference
Optometrist $66.78$102.1634.6%
Doctor $100.11$108.367.6%
Dentist $93.71$92.531.3%
Ibuprofen $8.77$9.285.5%
Lipitor $420.00$425.821.4%


ItemHopeNational avg.Difference
Home Price $75,400.00$184,700.0059.2%
Avg. Mortgage Payment $940.18$1,202.4421.8%
Apartment Rent $603.00$949.0036.5%


ItemHopeNational avg.Difference
Gasoline $2.11$2.246.1%
Tire Balancing $37.95$46.2918.0%


ItemHopeNational avg.Difference
All Electricity$121.23$165.9627.0%
Phone $27.34$28.684.7%
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.
McNab, AR6690-10%
Bodcaw, AR15767-33%
Blevins, AR30671-29%
Ozan, AR7973-27%
Fulton, AR22873-27%
Hope, AR9,96877-23%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fair Oaks, GA9,97490-10%
Beecher, MI9,97579-21%
Kendallville, IN9,98086-14%
Benton Harbor, MI9,98876-24%
Jefferson, GA9,94695-5%
Hope, AR9,96877-23%
Source: The Hope, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.
Are you looking to buy or sell?
What style of home are you
What is your
When are you looking to
ASAP1-3 mos.3-6 mos.6-9 mos.1 yr+
Connect with top real estate agents