Cost of Living in Lake Hamilton, AR

With a cost of living index of 88, Lake Hamilton, AR is a very affordable place to live. Living here is 12% cheaper than the national average and 18% above the Arkansas state average of 70. Lake Hamilton is a small community of 1,912 residents.

Housing costs are the biggest factor in Lake Hamilton's cost of living. The median monthly rent is $806 (39% below the US median of $1,319), and the median home value sits at $411,000 (35% above the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Lake Hamilton is $87,870, which is 17% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Hot Springs, 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.