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: $150,000
- 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 Hope is a financially viable option for your relocation.