Cost of Living in Chicot County, Arkansas
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Chicot County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chicot County ranks #1,537 of 3,144 counties for affordability (top 49%)
Data Story
About Cost of Living in Chicot County, Arkansas
Chicot renters spend more than most Americans
At 20.0%, Chicot County's rent-to-income ratio exceeds the national norm—renters here dedicate a fifth of their earnings to housing. This is notably higher than Arkansas's state average of 18.1%, putting affordability pressure on local renters.
Among Arkansas's least affordable counties
Chicot County ranks among the state's most challenging housing markets for renters, with a 20.0% rent-to-income ratio well above the state average. The median home value of $90,500 offers some relief for buyers, but renters face steeper affordability hurdles.
Pricier rent than surrounding areas
Chicot's median rent of $661 sits below the state average of $760, yet the county's lower median income of $39,683 makes housing consume a larger share of household budgets. Neighboring counties with higher incomes experience better affordability despite comparable rents.
Housing takes 20% of Chicot incomes
The typical Chicot household earning $39,683 annually allocates about $661 monthly to rent—leaving limited income for other essentials. Owner costs are lower at $549 monthly, but the median home value of $90,500 still requires substantial down payments for first-time buyers.
Consider Chicot if you value affordability
Chicot County offers lower home prices than Arkansas averages, making homeownership viable for patient savers. However, renters should compare this market with neighboring counties like Clay or Cleveland, which offer better rent-to-income ratios despite similar housing costs.
Cost of Living Advisory: Chicot County
Affordability Verdict
Chicot County is affordable for renters, with a median gross rent of $661/month representing approximately 20.0% of median household income. The rent burden (GRAPI) stands at 23.0%.
Rent vs. Own
The median rent in Chicot County is $661/month, while owner costs run $549/month. Owning saves approximately $112/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,440/year. For owner costs at the 28% rule, the required income is roughly $23,529/year. With a median household income of $39,683, most households can comfortably afford rent here. Notably, 23.0% of renter households in Chicot County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Arkansas, Chicot County is less affordable than Drew County by roughly 7% ($661/mo vs $712/mo).
Affordability Calculator
See how your income compares to housing costs in Chicot County
Rent Burden
20.0%
of gross income
Max Housing (28% Rule)
$926
per month
Owner Cost Burden
16.6%
of gross income
You can likely afford the median home in Chicot County
Median home value is $90,500. Estimated monthly cost: $722 vs. your max of $926.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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