Prescott, Arkansas Cost Of Living

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A

Overall 22%

Goods & Services 6%

Housing 54%

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	Prescott	Arkansas	National
Cost of living	78	84	100
Goods & Services	94	95	100
Groceries	93	90	100
Health care	94	86	100
Housing	46	65	100
Transportation	85	83	100
Utilities	90	91	100

Key findings

The cost of living in Prescott is 7% lower than the Arkansas average
The cost of living in Prescott is 22% lower than the national average
Prescott housing is 54% 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	$43,149	$3,596	$1,007	$1,295
Renters	$17,363	$1,447	$405	$521

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	Prescott	National avg.	Difference
Haircut	$12.33	$17.49	29.5%
Beauty Salon	$31.30	$38.17	18.0%
Toothpaste	$2.10	$2.32	9.5%
Shampoo	$0.98	$1.01	3.2%
Movie	$7.51	$10.72	30.0%
Bowling	$14.25	$13.86	2.8%

Groceries

Item	Prescott	National avg.	Difference
Ground Beef	$4.36	$3.90	11.8%
Fried Chicken	$1.02	$1.40	26.9%
Milk	$2.03	$1.96	3.5%
Potatoes	$2.98	$3.18	6.4%
Pizza	$10.25	$10.39	1.4%
Beer	$9.26	$9.23	0.3%

Health Care

Item	Prescott	National avg.	Difference
Optometrist	$68.00	$106.34	36.1%
Doctor	$87.50	$115.25	24.1%
Dentist	$106.67	$98.38	8.4%
Ibuprofen	$9.08	$9.26	2.0%
Lipitor	$477.20	$466.47	2.3%

Housing

Item	Prescott	National avg.	Difference
Home Price	$65,400.00	$184,700.00	64.6%
Avg. Mortgage Payment	$913.16	$1,273.32	28.3%
Apartment Rent	$678.00	$949.00	28.6%

Transportation

Item	Prescott	National avg.	Difference
Gasoline	$2.30	$2.59	11.4%
Tire Balancing	$39.75	$48.90	18.7%

Utilities

Item	Prescott	National avg.	Difference
All Electricity	$138.08	$167.60	17.6%
Phone	$181.89	$163.42	11.3%

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.
McCaskill, AR	69	92	-8%
Okolona, AR	122	74	-26%
Blevins, AR	306	73	-27%
Cale, AR	97	74	-26%
Rosston, AR	346	75	-25%
Prescott, AR	3,176	78	-22%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Barnegat, NJ	3,176	127	27%
Corning, AR	3,177	74	-26%
Windermere, FL	3,175	140	40%
Ridgemark, CA	3,175	152	52%
Salem Heights, OH	3,175	101	1%
Prescott, AR	3,176	78	-22%

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

Prescott, AR Cost of Living

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