Pea Ridge, Arkansas Cost Of Living

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B+

Overall 14%

Goods & Services 9%

Housing 26%

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	Pea Ridge	Arkansas	National
Cost of living	86	84	100
Goods & Services	91	95	100
Groceries	91	90	100
Health care	82	86	100
Housing	74	65	100
Transportation	91	83	100
Utilities	91	91	100

Key findings

The cost of living in Pea Ridge is 2% higher than the Arkansas average
The cost of living in Pea Ridge is 14% lower than the national average
Pea Ridge housing is 26% 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	$58,772	$4,898	$1,371	$1,763
Renters	$31,278	$2,607	$730	$938

To approximate the cost of living and the housing affordability in Pea Ridge, AR, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Pea Ridge have a median income of $58,772. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,371 per month to avoid calamity and poverty. The renters in the city have an income of about $31,278, which would make their monthly maximum allowable rental costs $730.

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	Pea Ridge	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	Pea Ridge	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	Pea Ridge	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	Pea Ridge	National avg.	Difference
Home Price	$115,900.00	$184,700.00	37.2%
Avg. Mortgage Payment	$954.88	$1,273.32	25.0%
Apartment Rent	$959.00	$949.00	1.1%

Transportation

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

Utilities

Item	Pea Ridge	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.
Seligman, MO	1,118	77	-23%
Washburn, MO	482	77	-23%
Pineville, MO	778	82	-18%
Gateway, AR	386	85	-15%
Jane, MO	575	86	-14%
Pea Ridge, AR	5,177	86	-14%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Gates, NY	5,178	91	-9%
Evansville, WI	5,176	100	0%
Iowa Falls, IA	5,176	85	-15%
Sunset, UT	5,176	90	-10%
Offutt AFB, NE	5,176	102	2%
Pea Ridge, AR	5,177	86	-14%

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

Pea Ridge, AR Cost of Living