Cost of Living in Greenwood, AR
Population 9,570 · Arkansas · Data vintage 2023
(100 = US avg)
Greenwood offers a notably favorable income-to-housing ratio for its region. The typical home — $177,000 — costs less than 2.7 times median household income of $65,745, a threshold many coastal markets passed a decade ago. An unemployment rate of 3.0% points to a labor market well on the tight side of the national distribution.
Greenwood lies roughly 100 miles southeast of the nearest major metro, Broken Arrow — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 23% lower than Broken Arrow's $229,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Greenwood
The median home value in Greenwood is $177,300 — 42% below the national median of $305,000. Median rent runs $824/month, 37% lower than the national median of $1,314/month. The median household income of $65,745/year is 12% lower than the US median of $74,580. The local unemployment rate is 3.0%, below the national average of 4.8%. Arkansas's top state income tax rate is 4.4% and the combined sales tax is 9.5%. Overall, Greenwood has a cost of living index of 60 versus the US average of 100, meaning it is 40% less expensive.
Greenwood has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Greenwood, AR?
Greenwood has a cost index of 60 (100 = national average). It is 40% below the national average.
What is average rent in Greenwood, AR?
The median gross rent in Greenwood is $824 per month based on 2023 Census data.
What is the average home price in Greenwood?
The median home value in Greenwood is $177,300 according to Zillow and Census data.
What is the median income in Greenwood?
The median household income in Greenwood is $65,745 per year (2023 ACS 5-year estimates).
What is the sales tax in Greenwood, AR?
The combined state and local sales tax rate in Greenwood is 9.5%. The Arkansas state income tax top rate is 4.4%.
Is Greenwood, AR affordable?
Yes, Greenwood is generally considered affordable, with a cost of living index of 60 — about 40% below the US national average of 100.
Greenwood at a Glance
- Population
- 9,570
- Median Income
- $65,745
- Home Value
- $177,300
- Median Rent
- $824/mo
- Unemployment
- 3.0%
- Sales Tax
- 9.5%
Nearby Cities
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Arkansas Rankings
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