Cost of Living in Oak Grove, AR

With a cost of living index of 63, Oak Grove, AR is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 7% below the Arkansas state average of 70. Oak Grove is a small community of 327 residents.

Housing costs are the biggest factor in Oak Grove's cost of living. The median monthly rent is $688 (48% below the US median of $1,319), and the median home value sits at $141,300 (54% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Oak Grove is $45,781, which is 39% lower than the national median of $75,149. Residents spend roughly 18% 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.

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.