In terms of housing affordability, you could do much worse than Arkansas. According to the Arkansas Economic Development Commission, home prices are as much as 10% below the national average, at $176,293, with Medicare premiums adjusted to around $44.34. If you’re a military vet, it gets even better, since veteran pensions are tax-free. It’s estimated you would need $875,611, or about $1 million less than the national average, to comfortably retire in Arkansas. Goods and services are also 15% cheaper than the national median rate, meaning your groceries, utilities, and even nights out will come at a discount to the rest of the country.
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Assisted living in Arkansas can fluctuate between $3,329 and $4,500 per month, while nursing homes start at around $5,332 in areas like Jonesboro and rise to $7,376 monthly in places like Hot Springs. Memory care in Arkansas is usually an add-on to assisted living or nursing homes, adding $600 to $1,195 monthly to your expenses. Whether on the lower or higher end of these services, even with the additional cost of memory care, you would still save more than the national average.