Cost Of Living in Parkin, AR

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26%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

70%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	Parkin	Arkansas	National
Cost of living	74	86	100
Goods & Services	94	98	100
Groceries	100	95	100
Health care	87	88	100
Housing	30	65	100
Transportation	88	90	100
Utilities	90	92	100

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Cost Of Living Quick Facts

The cost of living in Parkin is 13% lower than the Arkansas average
The cost of living in Parkin is 26% lower than the national average
Parkin housing is 70% lower than the national average
Arkansas general sales tax is 27% higher than the national average
Arkansas state income tax is 23% 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	$28,036	$2,336	$654	$841
Renters	$23,438	$1,953	$547	$703

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%	4.9%

Goods & Services

Item	Parkin	National avg.	Difference
Haircut	$26.94	$24.26	11.0%
Beauty Salon	$41.92	$45.56	8.0%
Toothpaste	$3.62	$3.70	2.1%
Shampoo	$1.11	$1.28	13.1%
Movie	$11.99	$12.13	1.2%
Bowling	$13.75	$18.00	23.6%

Groceries

Item	Parkin	National avg.	Difference
Ground Beef	$6.10	$5.84	4.5%
Fried Chicken	$1.46	$1.57	7.0%
Milk	$4.71	$4.67	0.8%
Potatoes	$5.15	$4.93	4.3%
Pizza	$10.66	$12.09	11.8%
Beer	$9.95	$10.41	4.4%

Health Care

Item	Parkin	National avg.	Difference
Optometrist	$77.39	$125.68	38.4%
Doctor	$124.94	$135.78	8.0%
Dentist	$91.51	$113.29	19.2%
Ibuprofen	$10.19	$10.65	4.4%
Lipitor	$518.09	$468.60	10.6%

Housing

Item	Parkin	National avg.	Difference
Home Price	$40,500.00	$184,700.00	78.1%
Avg. Mortgage Payment	$2,240.45	$2,346.69	4.5%
Apartment Rent	$462.00	$949.00	51.3%

Transportation

Item	Parkin	National avg.	Difference
Gasoline	$3.14	$3.46	9.3%
Tire Balancing	$55.67	$59.92	7.1%

Utilities

Item	Parkin	National avg.	Difference
All Electricity	$163.38	$193.99	15.8%
Phone	$192.72	$192.25	0.2%

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	Population	Cost of Living Index	National Avg.
Jennette, AR	61	73	27.2%
Colt, AR	325	73	26.8%
Earle, AR	2,174	79	21.5%
Cherry Valley, AR	702	79	20.6%
Caldwell, AR	445	81	18.5%
Parkin, AR	739	74	25.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Maxwell, IA	739	88	11.8%
Greenbush, MN	739	80	20.4%
East Bend, NC	739	91	9.2%
Hamersville, OH	739	89	11.3%
San Perlita, TX	739	65	34.6%
Parkin, AR	739	74	25.8%