B-
Overall 8%
Goods & Services 1%
Housing 21%
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.
IndexSheridanArkansasNational
Cost of living9284100
Goods & Services10195100
Groceries9190100
Health care9286100
Housing7965100
Transportation9683100
Utilities9691100

Key findings

  • The cost of living in Sheridan is 10% higher than the Arkansas average
  • The cost of living in Sheridan is 8% lower than the national average
  • Sheridan housing is 21% lower than the national average
  • Arkansas general sales tax is 28% higher than the national average
  • Arkansas state income tax is 10% lower than the national average

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Compare Sheridan, AR Cost of Living

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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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$62,500$5,208$1,458$1,875
      Renters$30,500$2,542$712$915
      The affordability of the housing market in Sheridan, AR as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sheridan homeowners, the median income is $62,500. This indicates that a monthly maximum of $1,458 should be spent by homeowners on all housing related costs. Renters have a median income of $30,500. This indicates that renters would have a maximum of $712 for their rent related monthly costs.

      Arkansas Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Arkansas6.5%11.625%

      Arkansas Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Arkansas2%6.6%

      Goods & Services

      ItemSheridanNational avg.Difference
      Haircut $14.80$17.4915.4%
      Beauty Salon $40.20$38.175.3%
      Toothpaste $1.74$2.3225.0%
      Shampoo $0.78$1.0122.9%
      Movie $12.00$10.7211.9%
      Bowling $13.00$13.866.2%

      Groceries

      ItemSheridanNational avg.Difference
      Ground Beef $3.75$3.903.8%
      Fried Chicken $1.14$1.4018.3%
      Milk $1.89$1.963.7%
      Potatoes $3.23$3.181.5%
      Pizza $9.79$10.395.8%
      Beer $9.65$9.234.6%

      Health Care

      ItemSheridanNational avg.Difference
      Optometrist $110.00$106.343.4%
      Doctor $133.00$115.2515.4%
      Dentist $66.33$98.3832.6%
      Ibuprofen $7.98$9.2613.8%
      Lipitor $490.14$466.475.1%

      Housing

      ItemSheridanNational avg.Difference
      Home Price $146,200.00$184,700.0020.8%
      Avg. Mortgage Payment $1,261.70$1,273.320.9%
      Apartment Rent $753.00$949.0020.7%

      Transportation

      ItemSheridanNational avg.Difference
      Gasoline $2.31$2.5910.7%
      Tire Balancing $54.00$48.9010.4%

      Utilities

      ItemSheridanNational avg.Difference
      All Electricity$149.48$167.6010.8%
      Phone $188.02$163.4215.1%
      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.
      Hensley, AR2597-3%
      Leola, AR53378-22%
      Poyen, AR34780-20%
      Prattsville, AR35781-19%
      Redfield, AR1,68287-13%
      Sheridan, AR4,79492-8%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Greenfield, OH4,79482-18%
      Evansdale, IA4,79482-18%
      West Pittston, PA4,79395-5%
      Singac, NJ4,79312525%
      Beckett, NJ4,79211414%
      Sheridan, AR4,79492-8%
      Source: The Sheridan, AR cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.