Marion, Arkansas Cost Of Living

Buy Rent

B+

Overall 15%

Goods & Services 15%

Housing 20%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Marion	Arkansas	National
Cost of living	85	84	100
Goods & Services	86	95	100
Groceries	89	90	100
Health care	77	86	100
Housing	80	65	100
Transportation	87	83	100
Utilities	88	91	100

Key findings

The cost of living in Marion is 1% higher than the Arkansas average
The cost of living in Marion is 15% lower than the national average
Marion housing is 20% lower than the national average
Arkansas general sales tax is 28% higher than the national average
Arkansas state income tax is 19% lower than the national average

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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	$75,482	$6,290	$1,761	$2,265
Renters	$41,216	$3,435	$962	$1,237

A good way to judge both the affordability of the housing and the cost of living in Marion is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Marion has a median income of about $75,482 for people who own homes. Based on that number, a maximum of $1,761 should be spent on expenses related to housing. Renters have a slightly different median income, which is $41,216. Based on this average, renters should spend no more than $962 on all rental costs if they want to maintain a non-impoverished standard of living.

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%	6.6%

Goods & Services

Item	Marion	National avg.	Difference
Haircut	$14.50	$17.49	17.1%
Beauty Salon	$33.00	$38.17	13.5%
Toothpaste	$1.76	$2.32	24.2%
Shampoo	$0.79	$1.01	21.9%
Movie	$12.17	$10.72	13.5%
Bowling	$17.50	$13.86	26.3%

Groceries

Item	Marion	National avg.	Difference
Ground Beef	$3.14	$3.90	19.5%
Fried Chicken	$0.83	$1.40	40.5%
Milk	$2.01	$1.96	2.4%
Potatoes	$3.19	$3.18	0.2%
Pizza	$8.25	$10.39	20.6%
Beer	$8.84	$9.23	4.2%

Health Care

Item	Marion	National avg.	Difference
Optometrist	$61.66	$106.34	42.0%
Doctor	$74.63	$115.25	35.2%
Dentist	$75.17	$98.38	23.6%
Ibuprofen	$7.98	$9.26	13.8%
Lipitor	$466.06	$466.47	0.1%

Housing

Item	Marion	National avg.	Difference
Home Price	$147,200.00	$184,700.00	20.3%
Avg. Mortgage Payment	$921.18	$1,273.32	27.7%
Apartment Rent	$781.00	$949.00	17.7%

Transportation

Item	Marion	National avg.	Difference
Gasoline	$2.30	$2.59	11.4%
Tire Balancing	$42.16	$48.90	13.8%

Utilities

Item	Marion	National avg.	Difference
All Electricity	$131.84	$167.60	21.3%
Phone	$182.13	$163.42	11.5%

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.
Jericho, AR	96	86	-14%
Sunset, AR	168	69	-31%
Turrell, AR	469	71	-29%
Gilmore, AR	189	72	-28%
Earle, AR	1,989	74	-26%
Marion, AR	12,323	85	-15%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Channahon, IL	12,329	105	5%
Panama City Beach, FL	12,333	102	2%
Bayou Blue, LA	12,333	91	-9%
Mountain Home, AR	12,312	86	-14%
Steamboat Springs, CO	12,336	139	39%
Marion, AR	12,323	85	-15%

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

Marion, AR Cost of Living