Sherwood, AR

Very Low · 69

Arkansas · Population 32,915 · Updated March 2026

$1,011
Median Rent / Month
$79,157
Median Income
$190,900
Median Home Value
$1,073
Owner Costs / Month

Affordability

How far your income goes in Sherwood

15.3%
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

$12,132
Annual Rent
$3,483
State Income Tax
$1,184
Property Tax (est.)

Cost of Living Overview

Sherwood is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 69 (where 100 equals the national median), Sherwood residents can expect to pay median rent of $1,011/month while earning a median household income of $79,157/year.

The median home value in Sherwood, AR is $190,900, with typical monthly owner costs around $1,073 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.3% 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 Sherwood.

Frequently Asked Questions

Common questions about living costs in Sherwood

What is the cost of living in Sherwood, AR?
The cost of living index in Sherwood, AR is 69 (US average = 100). Median monthly rent is $1,011, median household income is $79,157/year, and the median home value is $190,900.
Is Sherwood, AR affordable?
Yes, Sherwood is more affordable than the national average with a cost index of 69. The rent-to-income ratio is 15.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Sherwood, AR?
The median gross rent in Sherwood, AR is $1,011 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,132.
What is the median household income in Sherwood?
The median household income in Sherwood, AR is $79,157 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%.