Paragould, AR

Very Low · 60

Arkansas · Population 29,940 · Updated March 2026

$883
Median Rent / Month
$56,181
Median Income
$175,400
Median Home Value
$894
Owner Costs / Month

Affordability

How far your income goes in Paragould

18.9%
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

$10,596
Annual Rent
$2,472
State Income Tax
$1,087
Property Tax (est.)

Cost of Living Overview

Paragould is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 60 (where 100 equals the national median), Paragould residents can expect to pay median rent of $883/month while earning a median household income of $56,181/year.

The median home value in Paragould, AR is $175,400, with typical monthly owner costs around $894 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.9% 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 Paragould.

Frequently Asked Questions

Common questions about living costs in Paragould

What is the cost of living in Paragould, AR?
The cost of living index in Paragould, AR is 60 (US average = 100). Median monthly rent is $883, median household income is $56,181/year, and the median home value is $175,400.
Is Paragould, AR affordable?
Yes, Paragould is more affordable than the national average with a cost index of 60. The rent-to-income ratio is 18.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Paragould, AR?
The median gross rent in Paragould, AR is $883 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,596.
What is the median household income in Paragould?
The median household income in Paragould, AR is $56,181 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%.