Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Arkansas County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,109 | $123,805 | $242,182 |
| Price Trend (Annual %) | 32.8% | 5.2% | 8.2% |
| Median Gross Rent | $798 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Arkansas County is about 182% higher than in Arkansas. Rent is about 13% lower than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Arkansas County, up about 32.8% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Arkansas County rose about 28.4% between 2015 and 2023, from $621 to $798. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Arkansas County.
Buying the median-priced home in Arkansas County costs roughly 36.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Arkansas County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Arkansas County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,109 | $123,805 | $242,182 |
| Median Household Income | $61,115 | $58,772 | $78,145 |
| Price-to-Income Ratio | 5.7 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Arkansas County rose about 513.8%, while median household income rose about 67.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Arkansas County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.1% | 56.9% | 58.2% |
| Rental Rate | 24.7% | 29.1% | 31.3% |
| Vacancy Rate | 24.3% | 14.0% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Arkansas County has a homeownership rate of 51.1%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 24.3%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Arkansas County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1972 | 1986 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Arkansas County was built around 1972. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Arkansas County, Arkansas.
What is the median home price in Arkansas County, Arkansas?
The median home price in Arkansas County, Arkansas is $349,109, higher than the Arkansas average of $123,805.
What is the average home price in Arkansas County, Arkansas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Arkansas County, Arkansas?
The median gross rent in Arkansas County, Arkansas is $798 per month, lower than the Arkansas average of $913.
What was the median gross rent in Arkansas County in 2020?
In 2020, the median gross rent in Arkansas County, Arkansas was $644 per month.
What is the price-to-rent ratio in Arkansas County, Arkansas?
The price-to-rent ratio in Arkansas County, Arkansas is about 36.5, meaning it would take roughly 36.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Arkansas County.
Are home prices or rent rising faster in Arkansas County, Arkansas?
Both home prices and rent are rising in Arkansas County, up about 32.8% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Arkansas County, Arkansas?
51.1% of households in Arkansas County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Arkansas County, Arkansas?
The housing vacancy rate in Arkansas County, Arkansas is 24.3%, higher than the Arkansas average of 14.0%.