Arkansas Housing Market Prices
Arkansas 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 55% below the US median Among the top 5 cheapest states in US$111,957
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Median rent 33% below the US median Among the top 5 cheapest states in US$947
Median Home Price Map: Counties in Arkansas
Housing Market Overview
| Metric | Arkansas | US Average |
|---|---|---|
| Median Home Price | $111,957 | $248,835 |
| Price Trend (Annual %) | 3.4% | 7.5% |
| Median Gross Rent | $947 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Arkansas is about 55% lower than in US. Rent is about 33% lower than the US 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 Arkansas, up about 3.4% and 4.1% a year respectively. Rent is changing faster.
Median rent in Arkansas rose about 40.1% between 2015 and 2024, from $676 to $947. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Arkansas.
Buying the median-priced home in Arkansas costs roughly 9.9 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 Arkansas. The price-to-rent ratio in US is about 14.7.
| Metric | Arkansas | US Average |
|---|---|---|
| Median Home Price | $111,957 | $248,835 |
| Median Household Income | $60,940 | $80,455 |
| Price-to-Income Ratio | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Arkansas rose about 32.8%, while median household income rose about 54.0% between 2009 and 2025 — 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 | Arkansas | US Average |
|---|---|---|
| Homeownership Rate | 57.4% | 58.5% |
| Rental Rate | 29.0% | 31.2% |
| Vacancy Rate | 13.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 |
Arkansas has a homeownership rate of 57.4%, lower than the US average of 58.5%. Its housing vacancy rate is 13.5%, compared with 10.2% in US.
Housing Stock
| Metric | Arkansas | US Average |
|---|---|---|
| Average Household Size | 2.46 people | 2.53 people |
| Median Structure Built Year | 1987 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 |
The typical housing unit in Arkansas was built around 1987. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Arkansas Housing Compared With Nearby States
Arkansas is the 5th largest of the 6 states compared here, 3,049,066 residents against a local median of 4,610,276. Where Arkansas breaks from the states next to it is median home price, sitting 23% below the local median of $145,462 at $111,957.
The states themselves spread $40,377 on median home price, so Arkansas sits at one end of an already wide local range rather than apart from it. Arkansas has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Arkansas | 3,049,066 | $111,957 #6/6 | $947 #6/6 | 66.4% #5/6 |
| Missouri | 6,186,340 | $145,462 | $1,033 | 68.1% |
| Mississippi | 2,946,497 | $130,069 | $954 | 70.0% |
| Louisiana | 4,610,276 | $170,446 | $1,063 | 67.4% |
| Oklahoma | 4,028,385 | $133,462 | $1,014 | 65.8% |
| Alabama | 5,083,438 | $160,474 | $1,007 | 70.2% |
Frequently Asked Questions
Common questions about the housing market in Arkansas.
What is the median home price in Arkansas?
The median home price in Arkansas is $111,957, lower than the US average of $248,835.
What is the average home price in Arkansas?
The typical home price in Arkansas, reported as the median sale price, is $111,957. 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 Arkansas?
The median gross rent in Arkansas is $947 per month, lower than the US average of $1,407.
What was the median gross rent in Arkansas in 2020?
In 2020, the median gross rent in Arkansas was $760 per month.
What is the price-to-rent ratio in Arkansas?
The price-to-rent ratio in Arkansas is about 9.9, meaning it would take roughly 9.9 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 Arkansas.
Are home prices or rent rising faster in Arkansas?
Both home prices and rent are rising in Arkansas, up about 3.4% and 4.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Arkansas?
57.4% of households in Arkansas own their home, lower than the US average of 58.5%.
What is the vacancy rate in Arkansas?
The housing vacancy rate in Arkansas is 13.5%, higher than the US average of 10.2%.
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