Cost of Living in Prescott, AR
Population 3,063 · Arkansas · Data vintage 2023
(100 = US avg)
Prescott's median household income of $29,403 is a meaningful share below the national figure, which shapes most of the downstream economic indicators — from housing affordability to the share of residents living below the poverty line (34% here). Rent burden runs high: typical rents of $863/month consume roughly 35% of median household income, past the 30% threshold most affordability frameworks flag as strained.
Geographically, Prescott lies roughly 85 miles southwest of the nearest major metro, Little Rock. Median home values run roughly 57% lower than Little Rock's $221,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Prescott
The median home value in Prescott is $95,100 — 69% below the national median of $305,000. Median rent runs $863/month, 34% lower than the national median of $1,314/month. The median household income of $29,403/year is 61% lower than the US median of $74,580. The local unemployment rate is 4.1%, 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, Prescott has a cost of living index of 45 versus the US average of 100, meaning it is 55% less expensive.
Prescott 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 Prescott, AR?
Prescott has a cost index of 45 (100 = national average). It is 55% below the national average.
What is average rent in Prescott, AR?
The median gross rent in Prescott is $863 per month based on 2023 Census data.
What is the average home price in Prescott?
The median home value in Prescott is $95,100 according to 2023 Census ACS data.
What is the median income in Prescott?
The median household income in Prescott is $29,403 per year (2023 ACS 5-year estimates).
What is the sales tax in Prescott, AR?
The combined state and local sales tax rate in Prescott is 9.5%. The Arkansas state income tax top rate is 4.4%.
Is Prescott, AR affordable?
Yes, Prescott is generally considered affordable, with a cost of living index of 45 — about 55% below the US national average of 100.
Prescott at a Glance
- Population
- 3,063
- Median Income
- $29,403
- Home Value
- $95,100
- Median Rent
- $863/mo
- Unemployment
- 4.1%
- Sales Tax
- 9.5%
Nearby Cities
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Arkansas Rankings
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