Cost of Living in Goshen, AR

With a cost of living index of 115, Goshen, AR is somewhat more expensive than average. Living here is 15% more expensive than the national average and 45% above the Arkansas state average of 70. Goshen is a small community of 2,488 residents.

Housing costs are the biggest factor in Goshen's cost of living. The median monthly rent is $1,063 (19% below the US median of $1,319), and the median home value sits at $616,800 (102% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Goshen is $177,604, which is 136% higher than the national median of $75,149. Residents spend roughly 7% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Fayetteville-Springdale-Rogers, 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.