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 | Ashley County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $79,285 | $123,805 | $242,182 |
| Price Trend (Annual %) | 19.4% | 5.2% | 8.2% |
| Median Gross Rent | $639 | $913 | $1,342 |
| Rent Trend (Annual %) | 0.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ashley County is about 36% lower than in Arkansas. Rent is about 30% 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 Ashley County, up about 19.4% and 0.7% a year respectively. Home prices are changing faster.
Median rent in Ashley County rose about 8.7% between 2015 and 2023, from $588 to $639. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Ashley County.
Buying the median-priced home in Ashley County costs roughly 10.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ashley County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Ashley County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $79,285 | $123,805 | $242,182 |
| Median Household Income | $44,313 | $58,772 | $78,145 |
| Price-to-Income Ratio | 1.8 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ashley County rose about 33.7%, while median household income rose about 34.6% between 2009 and 2023 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Ashley County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.2% | 56.9% | 58.2% |
| Rental Rate | 21.3% | 29.1% | 31.3% |
| Vacancy Rate | 23.4% | 14.0% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Ashley County has a homeownership rate of 55.2%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 23.4%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Ashley County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1979 | 1986 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Ashley County was built around 1979. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ashley County, Arkansas.
What is the median home price in Ashley County, Arkansas?
The median home price in Ashley County, Arkansas is $79,285, lower than the Arkansas average of $123,805.
What is the average home price in Ashley 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 Ashley County, Arkansas?
The median gross rent in Ashley County, Arkansas is $639 per month, lower than the Arkansas average of $913.
What was the median gross rent in Ashley County in 2020?
In 2020, the median gross rent in Ashley County, Arkansas was $530 per month.
What is the price-to-rent ratio in Ashley County, Arkansas?
The price-to-rent ratio in Ashley County, Arkansas is about 10.3, meaning it would take roughly 10.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ashley County.
Are home prices or rent rising faster in Ashley County, Arkansas?
Both home prices and rent are rising in Ashley County, up about 19.4% and 0.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ashley County, Arkansas?
55.2% of households in Ashley County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Ashley County, Arkansas?
The housing vacancy rate in Ashley County, Arkansas is 23.4%, higher than the Arkansas average of 14.0%.