The Shocking Secret of Bella Vista Arkansas: Is it Richer Than You Think?
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.
Brief Overview of Bella Vista, Arkansas
Bella Vista, Arkansas, is a picturesque city in the Ozark Mountains that boasts beauty, lots of outdoor recreation, and a thriving retirement community.
Originally established as a resort destination, it has grown into a vibrant residential area with over 30,000 residents. The city boasts amenities such as golf courses, hiking trails, lakes, and cultural events, attracting retirees and families alike.
Understanding Bella Vista’s Economic Status
An exploration of the economic status of Bella Vista would provide more insight into its appeal and possible shortcomings. While it is ranked as a city with excellent living standards, low criminal activities, and relatively low-cost housing, perceptions of wealth vary.
Many residents enjoy comfortable retirements supported by pensions, investments, or Social Security. However, the area’s wealth distribution, employment opportunities, and cost of living are key factors to consider.
These will help prospective residents or investors make informed decisions about moving to or investing in Bella Vista.
Historical Background
Bella Vista, Arkansas, was initially established in 1917 as a summer resort. Over the decades, it transitioned into a retirement destination and later an incorporated city in 2006.
Its history as a planned community significantly shaped its development, attracting residents seeking a high quality of life.
Demographics of Bella Vista
Bella Vista’s population reflects a mix of retirees and working professionals. Income levels are moderate to above average, with a median household income of approximately $63,000, surpassing state averages.
The community’s affluence is bolstered by its focus on recreational amenities and planned neighborhoods.
Economic Indicators
The cost of living in Bella Vista is lower than the national average, making it attractive to families and retirees. Employment opportunities exist in healthcare, education, and retail, with many residents commuting to nearby Bentonville.
Economic growth initiatives, such as infrastructure improvements, aim to sustain development and diversify local industries.
The Real Estate Market Of Bella Vista, Arkansas
Bella Vista, Arkansas, has a distinct real estate market that has been carved out through its history as a retirement community and changing demographics. Home values in Bella Vista are fairly reasonable, not very different from the national average, typically between $200,000 and $400,000. Looking at property values over the last decade, one will find that they have seen steady appreciation due to heightened interest by retirees and young families. This is because of the combination of lower prices and more amenities.
The housing market features a mix of single-family homes, townhouses, and golf course properties. Many homes are nestled in wooded areas, offering scenic views and a tranquil lifestyle.
Compared to its neighboring cities of Bentonville or Rogers, Bella Vista has more affordable housing. However, it still does not have the kind of rapid commercial and urban development happening there.
Its real estate market has shown a significant contribution to the local wealth through investment attractions and community development, but Bella Vista remains at large a modestly affluent place.
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.
Pros & Cons Of Living In Bella Vista
Bella Vista is one of the most premium places on the planet to live. As per estimate, the cost of living in Bella Vista is at least 10% higher than the rest of the country. Therefore, you must understand the pros and cons of living in Bella Vista.
This section will discuss some pros and cons of living in Bella Vista. If you plan on moving to Bella Vista, you can do so with more information. Here we go!
Pros
This section will objectively discuss all the pros of living in Bella Vista. Living in one of the most premium places on the planet has countless benefits. Therefore, it is only possible to list some of the pros.
Hence, we have narrowed down the search and brought to you some of the most important pros of living in Bella Vista.
Recreational Activities
One of the foremost reasons for living in Bella Vista is the host of recreational activities that the location provides. Bella Vista is a paradise for people with a penchant for outdoor recreational activities.
Bella Vista is home to around seven lakes. Therefore, residents can enjoy a day of fishing and barbecue in one of these lakes. Apart from that, the location is also riddled with some of the most premium country clubs in the country.
Therefore, residents of Bella Vista will always have activities.
Location
The next best thing about living in Bella Vista is the location. The town is located in the middle of Arkansas and Missouri. This offers the perfect climate for the residents to live in.
The town is located amid hilly areas. As a result, the area is quite windy and somewhat remote. This makes it a perfect place to live for people who want a slower pace of life.
But the presence of an ample amount of activities also ensures that you always have places to visit.
Cons
Now that the pros have been listed. It is time that we look at some of the cons of living in Bella Vista. Again, there are several cons of living in town. As a result, we have only listed two of the major cons of living in this town. Here we go!
Strict POA
One of the biggest cons of living in Bella Vista is the POA. As per several first-hand accounts from residents, Bella Vista has some of the strictest POAs in the country. Some residents even claim that the POA regulations are miserable and are meant to suck the life out of residents.
Each property owner is expected to pay a total of $37 per month for maintenance and other similar activities. Hence, people who have a problem with POAs and regulations will need help adjusting to this environment.
Shopping & Dining Options
This might be a shock. However, Bella Vista actually needs more shopping and fine dining experience. This is a made-up problem. But how long will you be hanging out in the country club or going fishing? Shopping and dining experiences are essential in that sense.
A lack of shopping and fine dining experience can make residents feel isolated and included in the world. Therefore, this is one of the biggest and most prominent cons of living in the town of Bella Vista.
Community and Lifestyle
Bella Vista, Arkansas, offers a diverse community with a blend of affordability, lifestyle amenities, and moderate wealth distribution. Let’s find out now!
Quality of Life in Bella Vista
Bella Vista, Arkansas, offers a high quality of life for its residents, making it a preferable choice to live for so many. Located amidst the beautiful Ozark Mountains, Bella Vista is replete with scenic landscapes, verdant pastures, and abundant opportunities for outdoor recreation.
It has seven lakes, several hiking and biking trails, and neat golf courses. Its cost of living index is pretty low compared to other states, which adds up to an affordable lifestyle.
It is this confluence of natural beauty, affordability, and things to do that provides a community-oriented environment attractive to retirees, young families, and outdoor enthusiasts.
Educational and Healthcare Facilities
Bella Vista lies between the Bentonville and Gravette School Districts, known collectively for their commitment to excellence in education.
Although Bella Vista does not host too many large educational facilities within its boundaries, its location close to Bentonville and other surrounding cities ensures that one has access to good schools and libraries.
Healthcare: Basic needs are catered to by healthcare facilities in Bella Vista, including clinics and primary care centers located within the city’s boundaries.
More specific cases of medical care are channeled to cities such as Bentonville and Rogers, where modern hospitals and specialized medical care can be found. With this regional network, residents of Bella Vista can find complete care without much hassle.
Safety and Crime Rates
One of the strong points of Bella Vista is its safety, as the city has seen lower crime rates than national and state averages. A close-knit community and actively engaged neighborhood watch programs give residents a sense of being safe. This situation makes Bella Vista appealing to families and retirees looking for serenity and security.
Wealth Distribution
The population of Bella Vista is an amalgamation of socio-economic statuses. It is not a very affluent area; however, there are substantial numbers of retirees and professionals with moderate to upper-middle-class lifestyles.
This has been made possible because of the affordability of the area along with its attractive amenities, which attract people of various income levels. It also ranges from modest single-family homes to the more luxurious ones, therefore allowing diversity in economic representation.
Most of the residents enjoy stable financial positions as a result of pensions and investments and gainful employment in nearby cities like Bentonville. These houses corporate giants such as Walmart. Nevertheless, Bella Vista does not depict the immense concentration of wealth that is apparent in high-income metropolitan areas.
Summary of Findings Concerning the Wealth Status of Bella Vista
Bella Vista, Arkansas, could be described as a balanced economic community rather than an obviously booming rich community. It offers quality living, safety, and affordability, attracting a wide range of residents from lower to upper incomes.
With many financially stable retirees and professionals living there, it still maintains that small-town, down-to-earth atmosphere that welcomes everyone with all types of economic backgrounds.
Bella Vista is rich in many aspects, from monetary wealth to its community spirit, natural beauty, and different opportunities for lifestyles.
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.
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