Bentonville, Arkansas is known for its vibrant community and scenic beauty, attracting residents with its blend of modern amenities and charming, small-town feel.
The cost of living in Bentonville is a crucial aspect for anyone considering moving to or living in this bustling city. It offers a balanced lifestyle with its affordable living costs compared to national averages but with certain categories like housing seeing significant increases recently.
Housing Costs
The housing market in Bentonville, Arkansas, has seen dynamic changes in 2024, characterized by a significant uptick in prices. The median home price in Bentonville has risen to approximately $501,000, marking a 16.3% increase from the previous year.
This surge reflects the area's growing appeal and competitive housing market, where homes typically sell within about 15 days of listing.
Additionally, the cost of housing in Bentonville is considerably higher than the Arkansas state average but remains attractive when compared to national figures.
A typical home in Bentonville costs around $403,300, which is over 121% more expensive than the average Arkansas home. For those looking to rent, a two-bedroom unit typically costs about $1,050 per month, offering a more affordable option compared to other U.S. locations.
These figures underline Bentonville's status as a burgeoning market that balances higher costs with significant quality-of-life benefits.
Utilities
In Bentonville, Arkansas, the utility services cover a broad range of essential amenities, including electricity, water, wastewater, and solid waste management.
The city sources its water from Beaver Water District, ensuring high-quality water is available to its residents. Bentonville's electrical system includes multiple substations and extensive transmission infrastructure to maintain reliable service across the area.
Utility costs in Bentonville are generally favorable when compared to both state and national averages. Residential electricity rates are notably less than the national average, making it more economical for the residents. The city's utility systems not only support day-to-day living but also adhere to rigorous safety standards to ensure the integrity of the water supply through comprehensive programs like the Cross Connection and Control Program.
Food and Groceries
In Bentonville, Arkansas, the cost of groceries and dining out offers a range that accommodates various budgets and preferences.
For an average meal at an inexpensive restaurant, one might spend about $17.50, while a three-course meal for two at a mid-range restaurant typically costs around $80.00. For those preferring fast food, a standard combo meal is priced around $10.66.
Grocery prices in Bentonville are quite varied. A gallon of regular milk typically costs around $3.97, and a loaf of fresh white bread is priced at approximately $3.04.
For meat lovers, chicken fillets average $4.29 per pound, and beef round is slightly higher at $6.62 per pound.
Fruits and vegetables like apples and tomatoes are reasonably priced at about $2.21 and $1.31 per pound respectively. These prices help residents manage their daily food expenses effectively, providing a good mix of affordability and variety.
Transportation
In 2024, Bentonville, Arkansas, continues to enhance its transportation infrastructure and options to accommodate its residents and visitors.
The city is actively promoting sustainable transportation through a pilot e-bike rebate program, funded by grants from Walmart Corporate and the Walton Family Foundation.
This initiative aims to increase the adoption of e-bikes by making them more affordable, thereby reducing vehicle use for short trips and promoting healthier living.
For public transportation, Bentonville contracts with Ozark Regional Transit (ORT), which provides bus services that include on-demand routes.
This service has significantly increased its ridership, demonstrating a growing preference for public transit among the residents. Additionally, Bentonville Municipal Airport, Thaden Field, continues to expand and enhance its facilities, contributing to the city's accessibility and appeal as a destination for both tourism and business.
Healthcare
In 2024, Bentonville, Arkansas, is witnessing significant developments in its healthcare sector, with a strong focus on expanding medical education and integrating innovative health approaches.
The Whole Health Institute, initiated by Walmart heir Alice Walton, is spearheading these efforts by establishing a new medical school scheduled to open its doors to students in 2024.
This school aims to transform medical education by incorporating a holistic view of health that encompasses mental, emotional, physical, and spiritual well-being.
The curriculum will blend traditional medical training with integrative health practices, aiming to prepare medical professionals who can meet the complex health challenges of the 21st century.
Additionally, Northwest Health remains a major healthcare provider in the region, with a network that includes several hospitals and a wide range of medical services.
This network serves a substantial portion of Northwest Arkansas, providing essential medical, surgical, and emergency services.
As one of the largest health networks in the area, Northwest Health plays a crucial role in the local healthcare system, continually adapting and expanding its services to meet the needs of the growing community.
Goods and Services
In Bentonville, Arkansas, the goods and services market in 2024 exhibits a diverse range of costs, reflecting the unique blend of local and broader economic factors.
For everyday services and non-essential goods, prices are noted to be slightly above the national average.
Specifically, entertainment-related expenses and personal grooming services like haircuts and beauty treatments are estimated to be around 2% higher compared to other regions in the U.S.
This minor increase can be attributed to Bentonville's thriving local economy and cultural scene, which supports a higher demand for such services.
When it comes to more standard goods like clothing, the costs are relatively moderate. Men's shirts and women’s slacks are priced at approximately $32.77 and $33.65 respectively.
These prices are indicative of the general cost of living in Bentonville, which, while slightly above the Arkansas average, remains below the national average in many respects. The city offers a balanced market that caters to a range of economic demographics, from affordable supermarket options to higher-end goods and services tailored to meet the demands of its diverse population.
Income and Employment
In Bentonville, Arkansas, the employment and income landscape in 2024 shows a thriving economic environment with considerable income disparities.
The median household income in Bentonville has reached $96,907, which is significantly higher than both the state and national averages, reflecting the city's prosperous economic conditions. This represents a modest increase from the previous year, suggesting steady economic growth.
Employment opportunities in Bentonville are diverse, with high participation rates across various sectors. Notably, the employment to total population rate stands at 69%, indicating a robust labor market.
The city's workforce is engaged in a wide array of professions, with significant employment in management, business, and financial operations, and computer and mathematical occupations.
This diversity in job opportunities is complemented by a strong presence of major corporations, such as Walmart, which contribute to the high median incomes and a vibrant local economy.
Transportation
Transportation in Bentonville, Arkansas, offers several cost-effective and convenient options, making it an appealing location for families considering a move.
The Ozark Regional Transit provides both fixed-route and on-demand transit services throughout the area.
Fixed routes have no fare, thanks to sponsorships, and on-demand services are available for as low as $1.25 per ride. For those commuting within Bentonville, the average one-way commute time is notably short at 16.2 minutes, which is shorter than the national average.
Most residents drive their cars, but public transit and carpooling are also viable options.
When moving your family to Bentonville, it's important to consider the accessibility and affordability of local transportation.
Hiring
moving companies in Bentonville, AR can be particularly beneficial. Local movers are likely to have a better understanding of the area's logistics and can provide more personalized service.
This familiarity can lead to a smoother and potentially more cost-effective move. Additionally, the community's focus on developing robust transportation options, such as the comprehensive public transit system, underscores the city's commitment to accessibility and sustainability, further enhancing its livability for families.
