Cost Of Living in Cherokee Village, AR

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	Cherokee Village	Arkansas	National
Cost of living	79	86	100
Goods & Services	95	98	100
Groceries	95	95	100
Health care	77	88	100
Housing	50	65	100
Transportation	88	90	100
Utilities	89	92	100

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Cost Of Living Quick Facts

The cost of living in Cherokee Village is 8% lower than the Arkansas average
The cost of living in Cherokee Village is 21% lower than the national average
Cherokee Village housing is 50% 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	$37,667	$3,139	$879	$1,130
Renters	$26,465	$2,205	$617	$794

The affordability of the housing market in Cherokee Village, 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 Cherokee Village homeowners, the median income is $37,667. This indicates that a monthly maximum of $879 should be spent by homeowners on all housing related costs. Renters have a median income of $26,465. This indicates that renters would have a maximum of $617 for their rent related monthly costs.

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	Cherokee Village	National avg.	Difference
Haircut	$22.59	$24.26	6.9%
Beauty Salon	$43.68	$45.56	4.1%
Toothpaste	$3.59	$3.70	3.0%
Shampoo	$1.06	$1.28	17.4%
Movie	$13.11	$12.13	8.1%
Bowling	$14.38	$18.00	20.1%

Groceries

Item	Cherokee Village	National avg.	Difference
Ground Beef	$5.34	$5.84	8.5%
Fried Chicken	$1.38	$1.57	12.4%
Milk	$4.52	$4.67	3.3%
Potatoes	$5.34	$4.93	8.3%
Pizza	$11.64	$12.09	3.7%
Beer	$10.04	$10.41	3.6%

Health Care

Item	Cherokee Village	National avg.	Difference
Optometrist	$113.05	$125.68	10.1%
Doctor	$121.20	$135.78	10.7%
Dentist	$93.91	$113.29	17.1%
Ibuprofen	$10.17	$10.65	4.5%
Lipitor	$454.83	$468.60	2.9%

Housing

Item	Cherokee Village	National avg.	Difference
Home Price	$70,500.00	$184,700.00	61.8%
Avg. Mortgage Payment	$2,005.46	$2,346.69	14.5%
Apartment Rent	$731.00	$949.00	23.0%

Transportation

Item	Cherokee Village	National avg.	Difference
Gasoline	$3.12	$3.46	9.9%
Tire Balancing	$51.88	$59.92	13.4%

Utilities

Item	Cherokee Village	National avg.	Difference
All Electricity	$163.75	$193.99	15.6%
Phone	$204.07	$192.25	6.1%

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	Population	Cost of Living Index	National Avg.
Smithville, AR	59	92	8.0%
Williford, AR	70	74	25.5%
Hardy, AR	765	75	25.5%
Franklin, AR	116	75	25.3%
Ash Flat, AR	1,198	78	22.4%
Cherokee Village, AR	4,883	79	20.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Cherokee, IA	4,883	80	19.8%
Port Allen, LA	4,883	93	7.4%
Flower Hill, NY	4,883	284	183.8%
Waynesboro, MS	4,882	79	20.8%
Clarks Summit, PA	4,882	99	1.3%
Cherokee Village, AR	4,883	79	20.6%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Cherokee Village, AR