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.
Housing Market Overview
| Metric | Bella Vista | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,471 | $123,805 | $242,182 |
| Price Trend (Annual %) | 15.9% | 5.2% | 8.2% |
| Median Gross Rent | $1,316 | $913 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bella Vista is about 143% higher than in Arkansas. Rent is about 44% higher 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 Bella Vista, up about 15.9% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Bella Vista rose about 43.9% between 2015 and 2023, from $915 to $1,316. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Bella Vista.
Buying the median-priced home in Bella Vista costs roughly 19.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bella Vista. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Bella Vista | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,471 | $123,805 | $242,182 |
| Median Household Income | $92,004 | $58,772 | $78,145 |
| Price-to-Income Ratio | 3.3 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bella Vista rose about 53.9%, while median household income rose about 56.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bella Vista | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.3% | 56.9% | 58.2% |
| Rental Rate | 9.9% | 29.1% | 31.3% |
| Vacancy Rate | 8.9% | 14.0% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Bella Vista has a homeownership rate of 81.3%, higher than the Arkansas average of 56.9%. Its housing vacancy rate is 8.9%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Bella Vista | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1994 | 1986 | 1978 |
| Median Number of Rooms | 6.3 | 5.5 | 5.5 |
The typical housing unit in Bella Vista was built around 1994. On average, 2.4 people live in a home with about 6.3 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bella Vista, Arkansas.
What is the median home price in Bella Vista, Arkansas?
The median home price in Bella Vista, Arkansas is $300,471, higher than the Arkansas average of $123,805.
What is the average home price in Bella Vista, 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 Bella Vista, Arkansas?
The median gross rent in Bella Vista, Arkansas is $1,316 per month, higher than the Arkansas average of $913.
What was the median gross rent in Bella Vista in 2020?
In 2020, the median gross rent in Bella Vista, Arkansas was $964 per month.
What is the price-to-rent ratio in Bella Vista, Arkansas?
The price-to-rent ratio in Bella Vista, Arkansas is about 19.0, meaning it would take roughly 19.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bella Vista.
Are home prices or rent rising faster in Bella Vista, Arkansas?
Both home prices and rent are rising in Bella Vista, up about 15.9% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bella Vista, Arkansas?
81.3% of households in Bella Vista, Arkansas own their home, higher than the Arkansas average of 56.9%.
What is the vacancy rate in Bella Vista, Arkansas?
The housing vacancy rate in Bella Vista, Arkansas is 8.9%, lower than the Arkansas average of 14.0%.