Housing costs in Newark?
A typical home costs
$118,700, which is 64.9% less expensive than the national average of
$338,100 and 34.7% less expensive than the average Arkansas home, at
$181,800. Renting a two-bedroom unit in Newark costs
$710 per month, which is 15.5% cheaper than the national average of
$840 and close to the state average of
$720.
Can I afford Newark?
To live comfortably in Newark (zip 72562), Arkansas, a minimum annual income of
$22,680 for a family, and
$21,600 for a single person is recommended.
What does A.I. say about Newark?
The cost of living in Newark, AR (72562) is relatively affordable compared to other areas in the United States. The overall cost of living index in 72562 is 82.1, which is 18% lower than the US average. Housing expenses are particularly low here and make up a large portion of the area's total cost of living. The median home value is approximately $65,000 and the median monthly rent is about $600-$700 per month depending on the size and location of the property. Food costs are also lower than the national average due to local farmers' markets and stores offering discounts on locally-produced products. Overall, Newark's cost of living makes it an attractive place for anyone looking for an affordable place to live.