Planning your move to the Natural State? You’re not alone! More than 86,375 people are moving to Arkansas, making it the #5 state for top inbound movers. With this growth, Arkansas’ population has hit 3.06 million in 2024.
Arkansas hosts 4 Fortune 500 companies—Walmart and Tyson Foods—and has a strong job market. Living costs are also lower in the Natural State, and can average up to $2,910. Additionally, the state’s pleasant climate appeals to potential movers too.
3 Reasons to Move to Arkansas
Arkansas is one of the favorite relocation destinations for Americans. Here are three reasons to move to AR:
| # | Reasons to Move to AR | Highlights |
|---|---|---|
| 1. | Cost of Living | The average cost of living in Arkansas is 22.5% lower than the national average. |
| 2. | Employment | The Natural State aims to add 124,387 new jobs by 2030 across different sectors. |
| 3. | Tax Benefits | The state of Arkansas fully exempts Social Security benefits from state income tax. |
1. Low Cost of Living
The cost of living in Arkansas is 22.5% lower than the national average. It’s an attractive option compared to popular states like California and New York, where living costs are 38% and 26% above the national average.
Here’s a breakdown of monthly expenses in Arkansas’ popular cities:
| City | Median Home Price | Median Rent | Public Transport | Utilities | Food |
| Little Rock | $240,000 | $1,046 | $51.8 | $234.51 | $510 |
| Fayetteville | $368,650 | $1,739 | $39.8 | $176.39 | $566 |
| Fort Smith | $206,000 | $827 | $37.6 | $199.35 | $570 |
| Jonesboro | $195,912 | $1,050 | $41.2 | $216.67 | $461 |
2. Employment Opportunities
Arkansas’ robust economy offers various employment opportunities across several industries. The Natural State aims to add 124,387 new jobs by the year 2030.
- Manufacturing: This sector is set to add 14,340 jobs, with major employers including Munro Shoes and George’s.
- Service-Based: This sector is set to see the highest growth, adding 114,345 new jobs. Leading employers include Cognizant, Deloitte, and Amazon.
- Food Processing: This sector is projected to add 21,219 new jobs. There is a high demand for restaurant cooks, a role which is expected to grow by 51.7%. Tyson Foods and Simmons Foods are top employers in this industry.
- Healthcare: This sector is expected to grow by 11,271 jobs by 2030. ‘Nurse practitioners’ is the fastest-growing role with a projected growth of 54%. Key roles also include occupational therapy assistants, speech pathologists, and operations research analysts.
3. Tax Benefits
The Natural State has recently passed a bill that has reduced the income tax rate from 4.3% to 3.9% and the corporate tax rate to 4.3%. In addition, Arkansas fully exempts Social Security benefits from state income tax. Moreover, it provides a $6,000 exemption on retirement income, such as pensions and IRAs.
Arkansas also has one of the lowest property taxes in the US at 0.62%, alongside a homestead credit worth up to $375. Retirees and disabled residents over 65 can also qualify for a property tax “freeze” to lock in their home’s assessed value.
Cost of Moving to Arkansas 💲
There are additional costs involved in moving from one state to another. Here’s a breakdown of costs you may incur while relocating to AR:
1. Moving Costs ≈ $229 to $2,993
Moving to Arkansas involves several costs, including the costs involved in moving your belongings.
- Arkansas moving company typically costs $94 per hour. However, this figure depends entirely on your belongings and the distance traveled.
- If you want to DIY your move, renting a truck can be a better option. The average rent of a mid-size moving truck with a load capacity of 4,000-6,000 pounds ranges between $40 and $80 per day.
- 👉 Tip: Moving can be expensive, especially if you are selling your home before you move. In this case, you can use a Flat Fee MLS company to save on listing agent commissions. This way, you can have additional cash when you move to Arkansas.
2. Utility Expenses ≈ $400 to $500 Per Month
Apart from moving and housing costs, you will have to incur utility expenses when migrating to Arkansas.
- When relocating to Arkansas, you must set up utilities like gas, electricity, water, etc. The average utility bill in AR is around $404/month.
- You will have to register your vehicle in Arkansas. The first-time registration cost of a passenger vehicle in AR ranges from $17 to $30. A standard title fee is $10.
3. Housing Costs
Housing costs in the Natural State can vary depending on your location.
- In popular cities like Little Rock, Fayetteville, and Jonesboro, the average rent ranges between $1,000 and $2,000.
- However, if you plan to buy, make sure you find cheap houses for sale in Arkansas in your budget. Popular neighborhoods like Bentonville have a median home price of $488K. On the other hand, the average cost of a home in small cities like Camden is $149K.
4 Tips for a Seamless Move to Arkansas ✅
Moving to a new place can be tough. Here are some tips to help you make a smooth transition.
- Research Cities and Neighborhoods: Research the Arkansas housing market thoroughly, from home prices to market trends. Additionally, familiarize yourself with your neighborhood’s layout to ensure easy access to essential amenities.
- Find the Living Costs: Your living costs will change once you migrate. Before moving to AR, get an estimate of the basic living expenses in your desired location.
- Visit the Neighborhood: Once you’ve decided where you want to live. You must visit that Arkansas neighborhood in person and see what you feel about the area.
- Meet Your Neighbors: Connect with your neighbors and socialize. Local Facebook groups can be the best way to meet your neighbors.
