Cost of Living in Cherokee Village, AR

With a cost of living index of 66, Cherokee Village, AR is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 4% below the Arkansas state average of 70. Cherokee Village is a smaller community of 5,078 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Cherokee Village's cost of living. The median monthly rent is $930 (29% below the US median of $1,319), and the median home value sits at $86,800 (72% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Cherokee Village is $35,244, which is 53% lower than the national median of $75,149. Residents spend roughly 32% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.