A+
11%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
6%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Conway Arkansas National
Cost of living8986100
Goods & Services8398100
Groceries9695100
Health care8288100
Housing9465100
Transportation8790100
Utilities8992100

An Overview of Cost of Living in Conway, AR

Are you thinking about relocating, but curious about the potential cost of living in Conway? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Conway stands at 89, making it 11% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Conway, these goods and services come in at 17% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Is Conway Affordable?

Wondering if Conway is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Conway, for example, the median home price is 2.9% lower than what folks pay nationally, and monthly rent is 13.6% lower than the usual rates. Plus, income levels matter too, with Conway boasting a median household income of $47,999, which is 13.2% lower than the national average.

What Factors can Influence the Cost of Living in Conway?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Conway, the groceries index is 4.5% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Conway, the transportation index is 13% lower than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The Conway cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Conway is 4% higher than the Arkansas average
  • The cost of living in Conway is 11% lower than the national average
  • Conway housing is 6% 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

Most Affordable Places to Live in and Around Conway

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Compare Conway, AR Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$88,132$7,344$2,056$2,644
      Renters$31,484$2,624$735$945
      To approximate the cost of living and the housing affordability in Conway, 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 Conway have a median income of $88,132. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,056 per month to avoid calamity and poverty. The renters in the city have an income of about $31,484, which would make their monthly maximum allowable rental costs $735.

      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 Conway National avg. Difference
      Haircut $18.22$24.2624.9%
      Beauty Salon $24.22$45.5646.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.06$1.2817.2%
      Movie $12.30$12.131.4%
      Bowling $13.83$18.0023.1%

      Groceries

      Item Conway National avg. Difference
      Ground Beef $6.05$5.843.7%
      Fried Chicken $1.41$1.5710.1%
      Milk $4.49$4.673.8%
      Potatoes $5.22$4.935.8%
      Pizza $10.19$12.0915.7%
      Beer $9.93$10.414.6%

      Health Care

      Item Conway National avg. Difference
      Optometrist $92.22$125.6826.6%
      Doctor $99.44$135.7826.8%
      Dentist $87.02$113.2923.2%
      Ibuprofen $10.02$10.655.9%
      Lipitor $368.13$468.6021.4%

      Housing

      Item Conway National avg. Difference
      Home Price $179,400.00$184,700.002.9%
      Avg. Mortgage Payment $1,644.20$2,346.6929.9%
      Apartment Rent $820.00$949.0013.6%

      Transportation

      Item Conway National avg. Difference
      Gasoline $3.07$3.4611.2%
      Tire Balancing $52.43$59.9212.5%

      Utilities

      Item Conway National avg. Difference
      All Electricity $150.91$193.9922.2%
      Phone $202.72$192.255.4%
      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 Population Cost of Living Index National Avg.
      Fourche, AR307228.5%
      Plumerville, AR7457425.6%
      Houston, AR1737524.9%
      Menifee, AR1957723.2%
      Enola, AR3897920.5%
      Conway, AR66,7768911.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Kenner, LA66,759991.1%
      Oshkosh, WI66,753927.6%
      West Des Moines, IA66,7241021.7%
      Portland, ME66,70612120.8%
      South San Francisco, CA66,878212112.4%
      Conway, AR66,7768911.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.