Cost of Living in Hope, AR

Housing

The housing market plays a significant role in determining the cost of living in Hope, AR.

• Housing Index: 70.5 / 100
• Median Home Price is: $150000
• Average Rent (2 BR Apartment): $800 per month
• Average Rent (2 BR House): $816 per month

When considering a move to Hope, AR, it’s important to note its population of residents and a median age of years, suggesting a balanced community with established families and younger residents alike. With a median income of , families may feel the strain of a higher poverty level of %. The unemployment rate of % indicates a relatively stable job market, though still warrants caution. Analyze these factors when deciding if this location aligns with your lifestyle and financial goals—it may be thriving in some respects, but crucial challenges remain.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hope, AR.

• Electricity Price: 12.36 USD (median by state)
• Natural Gas Price: $17.08 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $200 per month

Living in Hope, AR could entail higher utility costs. Electricity costs sit at 12.36, while natural gas is priced at 17.08 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 85.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $43018

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Hope, AR, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.