Cost of Living in Shannon Hills, AR

With a cost of living index of 84, Shannon Hills, AR is a very affordable place to live. Living here is 16% cheaper than the national average and 14% above the Arkansas state average of 70. Shannon Hills is a small community of 4,557 residents.

Housing costs are the biggest factor in Shannon Hills's cost of living. The median monthly rent is $1,277 (3% below the US median of $1,319), and the median home value sits at $175,200 (43% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Shannon Hills is $69,413, which is 8% lower than the national median of $75,149. Residents spend roughly 22% 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.