Cost of living in Hot Springs
Hot Springs, located in Arkansas, is known for its natural thermal springs and vibrant community. Understanding the cost of living in this city is crucial for both current residents and those considering a move.
This guide provides a detailed breakdown of expenses in Hot Springs, covering everything from dining and groceries to housing and transportation.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $16.5 on average, with a range between $10 and $40.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $65, with prices ranging from $55 to $80.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $9, with a range between $7.99 and $10.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4 to $6, imported beer $4.5 to $8, cappuccino $4 to $6, and Coke/Pepsi $1.75 to $3.
Grocery Prices
- Milk - Milk is priced between $0.85 and $1.06 per liter, averaging $0.92.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.08 and $4.41, with an average price of $2.75.
- Eggs (Dozen) - A dozen eggs range from $1.79 to $6.95, averaging $2.34.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.65 to $5.51 per kg, while oranges range from $3.68 to $5.51 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.76 and $4.41 per kg, and lettuce costs $1.5 to $2.29 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.2 and $1.25, with a monthly pass priced at $28.
- Fuel (Gasoline) - Gasoline is priced between $0.7 and $0.85 per liter.
- Taxi Fares - Taxi fares start at $2, with a cost of $2.17 per km.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $600.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $400.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $800 to $1200, averaging $1000.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $600 to $1050, averaging $825.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $1884.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter also averages $1884.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $152.49 and $551, averaging $176.39.
- Internet - Internet services range from $40 to $90, with an average cost of $40.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Hot Springs offers a relatively affordable cost of living compared to larger cities, with moderate housing and utility costs.
Dining out can vary significantly in price, offering options for both budget-conscious and more lavish dining experiences.
Transportation costs are low, particularly for public transport and gasoline, making it easier to navigate the city affordably.
Conclusion
In conclusion, Hot Springs, AR, presents a balanced cost of living with affordable housing and transportation options.
While dining and grocery prices can vary, the overall expenses remain manageable for most residents.
This makes Hot Springs an attractive option for those seeking a cost-effective lifestyle in a city known for its natural beauty and community charm.