Cost of Living in Jonesboro, AR

An Overview of Cost of Living in Jonesboro, AR

Knowing the cost of living in Jonesboro allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Jonesboro stands at 90, marking it 10% lower than the national average.

In Jonesboro, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Jonesboro will resemble that of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Jonesboro?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 9 locals to understand their opinions on the cost of living in Jonesboro. The results indicated that 67% found it reasonably priced with decreasing prices of goods and services, while 33% viewed it as quite expensive, with increasing prices.

Is Jonesboro Affordable?

Is Jonesboro affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Jonesboro, the median home price is 12.6% lower than the national average and monthly rent prices are 17.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Jonesboro boasting a median household income of $47,062, 14.9% lower than the national average.

What Factors can Influence the Cost of Living in Jonesboro?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Jonesboro, the groceries index is 5.2% lower than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The Jonesboro 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.