Cost of Living in Hope, AR
Population 8,787 · Arkansas · Data vintage 2023
(100 = US avg)
Household incomes in Hope run well below national norms — a median of $44,353 versus the $74,580 US figure. Housing costs partially offset that gap (typical home values around $88,000). Around 21% of residents live below the federal poverty line, a rate that tends to correlate with the income and housing figures above.
Geographically, Hope lies roughly 85 miles north of the nearest major metro, Shreveport. Median home values run roughly 51% lower than Shreveport's $178,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hope
The median home value in Hope is $87,800 — 71% below the national median of $305,000. Median rent runs $777/month, 41% lower than the national median of $1,314/month. The median household income of $44,353/year is 41% lower than the US median of $74,580. The local unemployment rate is 3.9%, 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, Hope has a cost of living index of 41 versus the US average of 100, meaning it is 59% less expensive.
Hope 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 Hope, AR?
Hope has a cost index of 41 (100 = national average). It is 59% below the national average.
What is average rent in Hope, AR?
The median gross rent in Hope is $777 per month based on 2023 Census data.
What is the average home price in Hope?
The median home value in Hope is $87,800 according to Zillow and Census data.
What is the median income in Hope?
The median household income in Hope is $44,353 per year (2023 ACS 5-year estimates).
What is the sales tax in Hope, AR?
The combined state and local sales tax rate in Hope is 9.5%. The Arkansas state income tax top rate is 4.4%.
Is Hope, AR affordable?
Yes, Hope is generally considered affordable, with a cost of living index of 41 — about 59% below the US national average of 100.
Hope at a Glance
- Population
- 8,787
- Median Income
- $44,353
- Home Value
- $87,800
- Median Rent
- $777/mo
- Unemployment
- 3.9%
- Sales Tax
- 9.5%
Nearby Cities
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Arkansas Rankings
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