Conway, Arkansas Housing Market Prices
Conway Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 68% above the Arkansas median$187,910
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Median rent 5% above the Arkansas median$997
Housing Market Overview
| Metric | Conway | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $187,910 | $111,957 | $248,835 |
| Price Trend (Annual %) | 16.0% | 3.4% | 7.5% |
| Median Gross Rent | $997 | $947 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Conway is about 68% higher than in Arkansas. Rent is about 5% higher than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Conway, up about 16.0% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Conway rose about 36.7% between 2015 and 2024, from $729 to $997. Over the same span, rent in Arkansas rose about 40.1%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Conway.
Buying the median-priced home in Conway costs roughly 15.7 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 Conway. The price-to-rent ratio in Arkansas is about 9.9.
| Metric | Conway | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $187,910 | $111,957 | $248,835 |
| Median Household Income | $61,828 | $60,940 | $80,455 |
| Price-to-Income Ratio | 3.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Conway rose about 63.5%, while median household income rose about 40.0% between 2009 and 2025 — 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 | Conway | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.4% | 57.4% | 58.5% |
| Rental Rate | 50.6% | 29.0% | 31.2% |
| Vacancy Rate | 8.0% | 13.5% | 10.2% |
| Median Tenure (years) | 9.0 | 14.0 | 15.0 |
| Median Year Moved In | 2017 | 2012 | 2011 |
Conway has a homeownership rate of 41.4%, lower than the Arkansas average of 57.4%. Its housing vacancy rate is 8.0%, compared with 13.5% in Arkansas.
Housing Stock
| Metric | Conway | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1996 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.5 | 5.5 |
The typical housing unit in Conway was built around 1996. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Conway, Arkansas.
What is the median home price in Conway, Arkansas?
The median home price in Conway, Arkansas is $187,910, higher than the Arkansas average of $111,957.
What is the average home price in Conway, Arkansas?
The typical home price in Conway, Arkansas, reported as the median sale price, is $187,910. 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 Conway, Arkansas?
The median gross rent in Conway, Arkansas is $997 per month, higher than the Arkansas average of $947.
What was the median gross rent in Conway in 2020?
In 2020, the median gross rent in Conway, Arkansas was $810 per month.
What is the price-to-rent ratio in Conway, Arkansas?
The price-to-rent ratio in Conway, Arkansas is about 15.7, meaning it would take roughly 15.7 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 Conway.
Are home prices or rent rising faster in Conway, Arkansas?
Both home prices and rent are rising in Conway, up about 16.0% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Conway, Arkansas?
41.4% of households in Conway, Arkansas own their home, lower than the Arkansas average of 57.4%.
What is the vacancy rate in Conway, Arkansas?
The housing vacancy rate in Conway, Arkansas is 8.0%, lower than the Arkansas average of 13.5%.
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