A+
13%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
25%
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 Paragould Arkansas National
Cost of living8786100
Goods & Services9598100
Groceries9595100
Health care7788100
Housing7565100
Transportation8890100
Utilities8992100

An Overview of Cost of Living in Paragould, AR

Are you thinking about relocating, but curious about the potential cost of living in Paragould? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Paragould stands at 87, making it 13% 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.

Is Paragould Affordable?

Is Paragould an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Paragould, the median home price is 25.6% lower than what most folks pay across the country, and monthly rent prices are 22.4% lower than the usual rates. Income levels in Paragould come in at $48,276, which is 12.7% lower than the national average.

What Factors can Influence the Cost of Living in Paragould?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Paragould, the groceries index is 5.2% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Paragould, the housing index is 24.7% lower than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Paragould, the utilities index is 11.5% lower than the national average.

Where is the Data From?

The cost of living in Paragould, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Paragould is 1% higher than the Arkansas average
  • The cost of living in Paragould is 13% lower than the national average
  • Paragould housing is 25% 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 Paragould

See all the best places to live around Paragould

Compare Paragould, 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$60,589$5,049$1,414$1,818
      Renters$30,625$2,552$715$919
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Paragould, AR, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Paragould homeowners, is $60,589. This would allow for a maximum of $1,414 per month to be spent on housing costs. For renters, the median monthly income is $30,625 which would result in a maximum of $715 to be spent on rental 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 Paragould National avg. Difference
      Haircut $22.59$24.266.9%
      Beauty Salon $43.68$45.564.1%
      Toothpaste $3.59$3.703.0%
      Shampoo $1.06$1.2817.4%
      Movie $13.11$12.138.1%
      Bowling $14.38$18.0020.1%

      Groceries

      Item Paragould National avg. Difference
      Ground Beef $5.34$5.848.5%
      Fried Chicken $1.38$1.5712.4%
      Milk $4.52$4.673.3%
      Potatoes $5.34$4.938.3%
      Pizza $11.64$12.093.7%
      Beer $10.04$10.413.6%

      Health Care

      Item Paragould National avg. Difference
      Optometrist $113.05$125.6810.1%
      Doctor $121.20$135.7810.7%
      Dentist $93.91$113.2917.1%
      Ibuprofen $10.17$10.654.5%
      Lipitor $454.83$468.602.9%

      Housing

      Item Paragould National avg. Difference
      Home Price $137,400.00$184,700.0025.6%
      Avg. Mortgage Payment $2,005.46$2,346.6914.5%
      Apartment Rent $736.00$949.0022.4%

      Transportation

      Item Paragould National avg. Difference
      Gasoline $3.12$3.469.9%
      Tire Balancing $51.88$59.9213.4%

      Utilities

      Item Paragould National avg. Difference
      All Electricity $163.75$193.9915.6%
      Phone $204.07$192.256.1%
      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.
      Delaplaine, AR1277425.5%
      Cardwell, MO8307525.4%
      Black Oak, AR1977525.3%
      Lafe, AR4297624.0%
      Rector, AR1,9487623.5%
      Paragould, AR28,8218713.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bella Vista, AR28,819972.6%
      Mehlville, MO28,824937.4%
      Courtenay, BC28,804n/a 
      Wellesley, MA28,747242141.9%
      Ridgecrest, CA28,90511010.3%
      Paragould, AR28,8218713.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.