Trumann, Arkansas Cost Of Living

A+

16%

Overall NAT. AVG.

9%

Goods & Services NAT. AVG.

52%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Trumann	Arkansas	National
Cost of living	84	87	100
Goods & Services	109	102	100
Groceries	96	93	100
Health care	81	85	100
Housing	48	65	100
Transportation	89	92	100
Utilities	89	92	100

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Cost Of Living Quick Facts

The cost of living in Trumann is 4% lower than the Arkansas average
The cost of living in Trumann is 16% lower than the national average
Trumann housing is 52% lower than the national average
Arkansas general sales tax is 27% higher than the national average
Arkansas state income tax is 11% 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	$46,432	$3,869	$1,083	$1,393
Renters	$20,923	$1,744	$488	$628

To approximate the cost of living and the housing affordability in Trumann, 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 Trumann have a median income of $46,432. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,083 per month to avoid calamity and poverty. The renters in the city have an income of about $20,923, which would make their monthly maximum allowable rental costs $488.

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%	5.5%

Goods & Services

Item	Trumann	National avg.	Difference
Haircut	$16.75	$20.27	17.4%
Beauty Salon	$23.33	$40.39	42.2%
Toothpaste	$1.85	$2.36	21.4%
Shampoo	$0.97	$1.08	10.2%
Movie	$10.11	$10.99	8.0%
Bowling	$12.89	$15.49	16.8%

Groceries

Item	Trumann	National avg.	Difference
Ground Beef	$3.92	$4.30	8.7%
Fried Chicken	$1.40	$1.40	0.0%
Milk	$1.29	$2.20	41.3%
Potatoes	$3.04	$3.22	5.7%
Pizza	$10.05	$10.74	6.4%
Beer	$10.02	$9.60	4.4%

Health Care

Item	Trumann	National avg.	Difference
Optometrist	$100.00	$109.73	8.9%
Doctor	$100.71	$118.34	14.9%
Dentist	$77.06	$100.94	23.7%
Ibuprofen	$9.32	$9.93	6.2%
Lipitor	$336.15	$469.53	28.4%

Housing

Item	Trumann	National avg.	Difference
Home Price	$85,100.00	$184,700.00	53.9%
Avg. Mortgage Payment	$953.59	$1,229.62	22.4%
Apartment Rent	$490.00	$949.00	48.4%

Transportation

Item	Trumann	National avg.	Difference
Gasoline	$2.48	$2.71	8.5%
Tire Balancing	$44.54	$51.86	14.1%

Utilities

Item	Trumann	National avg.	Difference
All Electricity	$128.32	$170.84	24.9%
Phone	$199.93	$187.18	6.8%

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.
Birdsong, AR	37	69	30.7%
Caraway, AR	1,068	80	20.4%
Black Oak, AR	253	81	19.1%
Lepanto, AR	1,940	81	18.8%
Tyronza, AR	1,016	75	25.5%
Trumann, AR	7,143	84	16.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Tallulah, LA	7,144	76	24.5%
Freeland, MI	7,141	98	2.2%
Manor, TX	7,145	96	4.0%
Vandenberg Village, CA	7,146	131	31.0%
Boyes Hot Springs, CA	7,147	154	53.8%
Trumann, AR	7,143	84	16.4%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.