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 | Carroll County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,983 | $123,805 | $242,182 |
| Price Trend (Annual %) | 1.7% | 5.2% | 8.2% |
| Median Gross Rent | $818 | $913 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carroll County is about 12% lower than in Arkansas. Rent is about 10% 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 Carroll County, up about 1.7% and 5.2% a year respectively. Rent is changing faster.
Median rent in Carroll County rose about 31.5% between 2015 and 2023, from $622 to $818. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Carroll County.
Buying the median-priced home in Carroll County costs roughly 11.1 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 Carroll County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Carroll County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,983 | $123,805 | $242,182 |
| Median Household Income | $54,482 | $58,772 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Carroll County rose about 14.2%, while median household income rose about 64.5% 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 | Carroll County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.0% | 56.9% | 58.2% |
| Rental Rate | 17.8% | 29.1% | 31.3% |
| Vacancy Rate | 20.2% | 14.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Carroll County has a homeownership rate of 62.0%, higher than the Arkansas average of 56.9%. Its housing vacancy rate is 20.2%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Carroll County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1987 | 1986 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Carroll County was built around 1987. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Carroll County, Arkansas.
What is the median home price in Carroll County, Arkansas?
The median home price in Carroll County, Arkansas is $108,983, lower than the Arkansas average of $123,805.
What is the average home price in Carroll 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 Carroll County, Arkansas?
The median gross rent in Carroll County, Arkansas is $818 per month, lower than the Arkansas average of $913.
What was the median gross rent in Carroll County in 2020?
In 2020, the median gross rent in Carroll County, Arkansas was $575 per month.
What is the price-to-rent ratio in Carroll County, Arkansas?
The price-to-rent ratio in Carroll County, Arkansas is about 11.1, meaning it would take roughly 11.1 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 Carroll County.
Are home prices or rent rising faster in Carroll County, Arkansas?
Both home prices and rent are rising in Carroll County, up about 1.7% and 5.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Carroll County, Arkansas?
62.0% of households in Carroll County, Arkansas own their home, higher than the Arkansas average of 56.9%.
What is the vacancy rate in Carroll County, Arkansas?
The housing vacancy rate in Carroll County, Arkansas is 20.2%, higher than the Arkansas average of 14.0%.