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 | Bradley County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,556 | $123,805 | $242,182 |
| Price Trend (Annual %) | 49.3% | 5.2% | 8.2% |
| Median Gross Rent | $638 | $913 | $1,342 |
| Rent Trend (Annual %) | 1.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bradley County is about 106% higher 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 Bradley County, up about 49.3% and 1.7% a year respectively. Home prices are changing faster.
Median rent in Bradley County rose about 13.0% between 2015 and 2023, from $564 to $638. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Bradley County.
Buying the median-priced home in Bradley County costs roughly 33.4 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 Bradley County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Bradley County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,556 | $123,805 | $242,182 |
| Median Household Income | $39,760 | $58,772 | $78,145 |
| Price-to-Income Ratio | 6.4 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bradley County rose about 899.3%, while median household income rose about 49.8% 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 | Bradley County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.4% | 56.9% | 58.2% |
| Rental Rate | 23.5% | 29.1% | 31.3% |
| Vacancy Rate | 29.2% | 14.0% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Bradley County has a homeownership rate of 47.4%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 29.2%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Bradley County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.82 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1979 | 1986 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Bradley County was built around 1979. On average, 2.8 people live in a home with about 5.5 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bradley County, Arkansas.
What is the median home price in Bradley County, Arkansas?
The median home price in Bradley County, Arkansas is $255,556, higher than the Arkansas average of $123,805.
What is the average home price in Bradley 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 Bradley County, Arkansas?
The median gross rent in Bradley County, Arkansas is $638 per month, lower than the Arkansas average of $913.
What was the median gross rent in Bradley County in 2020?
In 2020, the median gross rent in Bradley County, Arkansas was $565 per month.
What is the price-to-rent ratio in Bradley County, Arkansas?
The price-to-rent ratio in Bradley County, Arkansas is about 33.4, meaning it would take roughly 33.4 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 Bradley County.
Are home prices or rent rising faster in Bradley County, Arkansas?
Both home prices and rent are rising in Bradley County, up about 49.3% and 1.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bradley County, Arkansas?
47.4% of households in Bradley County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Bradley County, Arkansas?
The housing vacancy rate in Bradley County, Arkansas is 29.2%, higher than the Arkansas average of 14.0%.