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 | Little River County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,694 | $123,805 | $242,182 |
| Price Trend (Annual %) | 184.5% | 5.2% | 8.2% |
| Median Gross Rent | $812 | $913 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Little River County is about 62% higher than in Arkansas. Rent is about 11% 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 Little River County, up about 184.5% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Little River County rose about 53.2% between 2015 and 2023, from $530 to $812. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Little River County.
Buying the median-priced home in Little River County costs roughly 20.6 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 Little River County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Little River County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,694 | $123,805 | $242,182 |
| Median Household Income | $51,004 | $58,772 | $78,145 |
| Price-to-Income Ratio | 3.9 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Little River County rose about 204.6%, while median household income rose about 51.4% 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 | Little River County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.1% | 56.9% | 58.2% |
| Rental Rate | 15.8% | 29.1% | 31.3% |
| Vacancy Rate | 21.1% | 14.0% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Little River County has a homeownership rate of 63.1%, higher than the Arkansas average of 56.9%. Its housing vacancy rate is 21.1%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Little River County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1984 | 1986 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Little River County was built around 1984. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Little River County, Arkansas.
What is the median home price in Little River County, Arkansas?
The median home price in Little River County, Arkansas is $200,694, higher than the Arkansas average of $123,805.
What is the average home price in Little River 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 Little River County, Arkansas?
The median gross rent in Little River County, Arkansas is $812 per month, lower than the Arkansas average of $913.
What was the median gross rent in Little River County in 2020?
In 2020, the median gross rent in Little River County, Arkansas was $579 per month.
What is the price-to-rent ratio in Little River County, Arkansas?
The price-to-rent ratio in Little River County, Arkansas is about 20.6, meaning it would take roughly 20.6 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 Little River County.
Are home prices or rent rising faster in Little River County, Arkansas?
Both home prices and rent are rising in Little River County, up about 184.5% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Little River County, Arkansas?
63.1% of households in Little River County, Arkansas own their home, higher than the Arkansas average of 56.9%.
What is the vacancy rate in Little River County, Arkansas?
The housing vacancy rate in Little River County, Arkansas is 21.1%, higher than the Arkansas average of 14.0%.