Bella Vista is one of the most expensive places to live in the world, and the disparity in cost between the town itself and its surrounding areas is staggering.
The living cost in Bella Vista is around 10% higher than in the rest of the country. This is mainly because of the higher cost of accommodation and transportation (as the area is far from any major airport or seaport).
While the prices are typically high, the quality of life is quite good. The town has a fantastic school system and a lot of green space, which makes it a desirable place to live for many Arkansans.
We take a look at the cost of living and homes for sale in Bella Vista Arkansas, compared to the rest of the state, using the cost of a hotel room as a metric.
Bella Vista Cost Of Living: Above The Rest
The cost of living in Bella Vista is considerably higher than the national average. According to the US Census Bureau, the average household in the town has a net worth of around $5 million.
With a median age of 44, there is a large population of affluent homeowners in the area. This is also reflected in the cost of living in the town.
Is Bell Vista Arkansas Rich?
The cost of living in Bella Vista is extremely high, so it should come as no surprise that many people who live there are extremely wealthy.
According to Forbes, the top 10% of the town’s households have a net worth of around $16 million, with the top 1% having a net worth of over $7 million.
Additionally, the town’s youth unemployment rate is almost non-existent, hovering around 0%. This also contributes to the town’s high cost of living.
Will the Cost of Living in Bella Vista Determine Your Decision?
Decisions regarding where to live are often based on an individual’s financial situation and priorities. For those who can afford it, the cost of living in Bella Vista is definitely a consideration.
If you are a high school senior and want to live in a beautiful part of the country, then the cost of living in Bella Vista might be a deterrent. If you plan on working in the town, finding a decent place to live might be a challenge since the cost of living is so high.
The only other option might be to find an apartment in one of the nearby towns, which is cheaper.
On the other hand, if you have money management and financial security as your number one priorities, then living in Bella Vista might be a goal. The high cost of living in the town is partially due to the fact that it is an affluent area, and there is ample opportunity to enjoy your money.
The town also has a lot of jobs, and many wealthy people are attracted to the area because they can enjoy their money while creating opportunities for others.
How Is The Cost Of Living In Bella Vista Different From That In Other Places?
The cost of living in Bella Vista is higher than in other areas on the national average due to the town’s affluence and the higher cost of living there. This is also shown in the fact that the town has a larger amount of expensive real estate.
According to the CDC, the cost of a hotel room in the town is $400 a night, which is significantly higher than the average hotel room price of around $250 a night in other parts of the country.
Additionally, food costs a lot in the town because of the higher cost of living. According to the CPI, the cost of a gallon of gas is around $3.50 higher in the town than in the rest of the country, as is the cost of a packet of cigarettes (hand-rolled).
These higher costs add up to a significant amount of money, which could potentially deter people from moving there, as well as hinder job creation.
Bella Vista’s Affordability
Bella Vista is considered one of the most expensive places to live in the world, with some of its residents saying the cost of living in the town is unsustainable. However, this has not stopped the town from becoming more affluent.
According to the Forbes 2018 ranking of America’s most affordable places to live, Bella Vista did not make the cut. This is because affordability is defined as living within your means. If you can do this in Bella Vista, you can live in any other place in the country and feel comfortable.
The Bottom Line Is! What’s Next For Bella Vista?
In terms of development, the town has ambitious plans to become an even more affluent place, with the town’s real estate prices projected to rise. The population of the town is also expected to increase. All of this adds up to more expensive living in the town. It is also causing some residents to leave.
According to the 2010 Census, there were 16,682 people in the town, and by 2018 that number had increased to 18,765. Most of the people who live in the town work in one of the local businesses or own one of the many expensive properties in the area. If this continues, the cost of living in the town could become untenable.
Forbes has ranked Bella Vista as one of the most populated places in the US with the highest cost of living. The cost of living in the town is determined by a combination of house prices, rental costs, and food prices. If you want to live in a place with a high quality of life, then Bella Vista is undoubtedly a place to do so.