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 | Logan County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,886 | $123,805 | $242,182 |
| Price Trend (Annual %) | 20.6% | 5.2% | 8.2% |
| Median Gross Rent | $721 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Logan County is about 8% higher than in Arkansas. Rent is about 21% 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 Logan County, up about 20.6% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Logan County rose about 31.0% between 2015 and 2023, from $550 to $721. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Logan County.
Buying the median-priced home in Logan County costs roughly 15.5 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 Logan County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Logan County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,886 | $123,805 | $242,182 |
| Median Household Income | $55,066 | $58,772 | $78,145 |
| Price-to-Income Ratio | 2.4 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Logan County rose about 35.3%, while median household income rose about 54.1% 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 | Logan County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.6% | 56.9% | 58.2% |
| Rental Rate | 20.3% | 29.1% | 31.3% |
| Vacancy Rate | 13.1% | 14.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Logan County has a homeownership rate of 66.6%, higher than the Arkansas average of 56.9%. Its housing vacancy rate is 13.1%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Logan County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1981 | 1986 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Logan County was built around 1981. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Logan County, Arkansas.
What is the median home price in Logan County, Arkansas?
The median home price in Logan County, Arkansas is $133,886, higher than the Arkansas average of $123,805.
What is the average home price in Logan 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 Logan County, Arkansas?
The median gross rent in Logan County, Arkansas is $721 per month, lower than the Arkansas average of $913.
What was the median gross rent in Logan County in 2020?
In 2020, the median gross rent in Logan County, Arkansas was $589 per month.
What is the price-to-rent ratio in Logan County, Arkansas?
The price-to-rent ratio in Logan County, Arkansas is about 15.5, meaning it would take roughly 15.5 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 Logan County.
Are home prices or rent rising faster in Logan County, Arkansas?
Both home prices and rent are rising in Logan County, up about 20.6% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Logan County, Arkansas?
66.6% of households in Logan County, Arkansas own their home, higher than the Arkansas average of 56.9%.
What is the vacancy rate in Logan County, Arkansas?
The housing vacancy rate in Logan County, Arkansas is 13.1%, lower than the Arkansas average of 14.0%.