salaryRent is lower than in 65% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $54,960 a year. That is $26 an hour at a full-time job.
Is rent cheaper than other Arkansas cities?
No. Rent here is more expensive than in most of Arkansas. It is number 57 of 71 cities from cheapest to most expensive.
How much do households earn in Greenwood?
Share of households by yearly income. 18.5% of households earn $100,000 or more.
Rent by apartment size in Greenwood
| Size | Greenwood | U.S. average |
|---|---|---|
| 1 bedroom | $611 | $1,324 |
| 2 bedrooms | $821 | $1,509 |
| 3 bedrooms | $1,243 | $1,698 |
| 4 bedrooms | $1,428 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Greenwood overall?
Everyday prices in Arkansas overall are 13% below the U.S. average (index 86.9, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Greenwood, so the Arkansas figure is shown.
Taxes and bills in Greenwood
Life in Greenwood
Is it cheaper to rent or buy in Greenwood?
Buying is cheaper month to month: about $105 a month less than renting.
Owning assumes a typical $182,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $18,290 for the down payment.
Frequently asked questions
What is the average rent in Greenwood, AR?
Renting in Greenwood costs a median of about $1,374 a month in 2026, including utilities. The Arkansas median is $1,068.
How much do I need to make to live in Greenwood?
To keep rent under 30% of income, you need about $54,960 a year, or $26 an hour at a full-time job.
Is Greenwood cheap or expensive?
Greenwood is rated OK: rent takes 22.9% of the typical household income of $72,091. It ranks 57th cheapest of 71 Arkansas cities we track.
How much are property taxes in Greenwood?
The median homeowner in Greenwood pays $1,149 a year in property taxes, about 0.63% of the median home value.
Is Greenwood more expensive than the national average?
Overall prices in Arkansas are 13% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Greenwood?
The median home value in Greenwood is $182,900, about 2.5 times the typical yearly household income.
9,616 people live in Greenwood. Numbers are typical (middle) values.