Cost of Living in Colt, AR

With a cost of living index of 60, Colt, AR is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 10% below the Arkansas state average of 70. Colt is a small community of 446 residents.

Housing costs are the biggest factor in Colt's cost of living. The median monthly rent is $703 (47% below the US median of $1,319), and the median home value sits at $94,200 (69% below the national median of $304,900). At current prices, the median home costs roughly 4.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Colt is $21,563, which is 71% lower than the national median of $75,149. Residents spend roughly 39% 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.