Fort Smith, Arkansas Housing Market Prices
Fort Smith 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.
-
Median home price 64% above the Arkansas median$183,485
-
Median rent 8% below the Arkansas median$870
Housing Market Overview
| Metric | Fort Smith | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $183,485 | $111,957 | $248,835 |
| Price Trend (Annual %) | 9.8% | 3.4% | 7.5% |
| Median Gross Rent | $870 | $947 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fort Smith is about 64% higher than in Arkansas. Rent is about 8% lower 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 Fort Smith, up about 9.8% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Fort Smith rose about 41.8% between 2015 and 2024, from $613 to $870. Over the same span, rent in Arkansas rose about 40.1%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Fort Smith.
Buying the median-priced home in Fort Smith costs roughly 17.6 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 Fort Smith. The price-to-rent ratio in Arkansas is about 9.9.
| Metric | Fort Smith | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $183,485 | $111,957 | $248,835 |
| Median Household Income | $53,214 | $60,940 | $80,455 |
| Price-to-Income Ratio | 3.4 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fort Smith rose about 111.5%, while median household income rose about 46.9% 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 | Fort Smith | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.1% | 57.4% | 58.5% |
| Rental Rate | 42.4% | 29.0% | 31.2% |
| Vacancy Rate | 9.5% | 13.5% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Fort Smith has a homeownership rate of 48.1%, lower than the Arkansas average of 57.4%. Its housing vacancy rate is 9.5%, compared with 13.5% in Arkansas.
Housing Stock
| Metric | Fort Smith | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1975 | 1987 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Fort Smith was built around 1975. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fort Smith, Arkansas.
What is the median home price in Fort Smith, Arkansas?
The median home price in Fort Smith, Arkansas is $183,485, higher than the Arkansas average of $111,957.
What is the average home price in Fort Smith, Arkansas?
The typical home price in Fort Smith, Arkansas, reported as the median sale price, is $183,485. 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 Fort Smith, Arkansas?
The median gross rent in Fort Smith, Arkansas is $870 per month, lower than the Arkansas average of $947.
What was the median gross rent in Fort Smith in 2020?
In 2020, the median gross rent in Fort Smith, Arkansas was $694 per month.
What is the price-to-rent ratio in Fort Smith, Arkansas?
The price-to-rent ratio in Fort Smith, Arkansas is about 17.6, meaning it would take roughly 17.6 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 Fort Smith.
Are home prices or rent rising faster in Fort Smith, Arkansas?
Both home prices and rent are rising in Fort Smith, up about 9.8% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fort Smith, Arkansas?
48.1% of households in Fort Smith, Arkansas own their home, lower than the Arkansas average of 57.4%.
What is the vacancy rate in Fort Smith, Arkansas?
The housing vacancy rate in Fort Smith, Arkansas is 9.5%, lower than the Arkansas average of 13.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →