Fort Smith, AR

Very Low · 58

Arkansas · Population 89,496 · Updated March 2026

$852
Median Rent / Month
$52,692
Median Income
$168,100
Median Home Value
$847
Owner Costs / Month

Affordability

How far your income goes in Fort Smith

19.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Arkansas

State-level tax rates that affect your costs

4.4%
Income Tax (Top Rate)
6.5%
Sales Tax
0.62%
Property Tax Rate

Estimated Annual Costs

$10,224
Annual Rent
$2,318
State Income Tax
$1,042
Property Tax (est.)

Cost of Living Overview

Fort Smith is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 58 (where 100 equals the national median), Fort Smith residents can expect to pay median rent of $852/month while earning a median household income of $52,692/year.

The median home value in Fort Smith, AR is $168,100, with typical monthly owner costs around $847 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Arkansas has a moderate income tax rate of 4.4%. Combined with a 6.5% sales tax rate and 0.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Fort Smith.

Frequently Asked Questions

Common questions about living costs in Fort Smith

What is the cost of living in Fort Smith, AR?
The cost of living index in Fort Smith, AR is 58 (US average = 100). Median monthly rent is $852, median household income is $52,692/year, and the median home value is $168,100.
Is Fort Smith, AR affordable?
Yes, Fort Smith is more affordable than the national average with a cost index of 58. The rent-to-income ratio is 19.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fort Smith, AR?
The median gross rent in Fort Smith, AR is $852 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,224.
What is the median household income in Fort Smith?
The median household income in Fort Smith, AR is $52,692 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Arkansas?
Arkansas has a top income tax rate of 4.4%, a sales tax of 6.5%, and an effective property tax rate of 0.62%.