Cost of Living in Gibson, AR

With a cost of living index of 84, Gibson, AR is a very affordable place to live. Living here is 16% cheaper than the national average and 13% above the Arkansas state average of 70. Gibson is a small community of 4,141 residents.

Housing costs are the biggest factor in Gibson's cost of living. The median monthly rent is $1,321 (0% below the US median of $1,319), and the median home value sits at $150,300 (51% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Gibson is $62,194, which is 17% lower than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Little Rock-North Little Rock-Conway, AR (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.