Monroe County, Arkansas Housing Market Prices
Monroe County 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 88% below the Arkansas median Among the top 3 cheapest counties in Arkansas$13,032
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Median rent 35% below the Arkansas median Among the top 5 cheapest counties in Arkansas$614
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Monroe County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $13,032 | $111,957 | $248,835 |
| Price Trend (Annual %) | -4.3% | 3.4% | 7.5% |
| Median Gross Rent | $614 | $947 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Monroe County is about 88% lower than in Arkansas. Rent is about 35% lower than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Monroe County: home prices fell about 4.3% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
Median rent in Monroe County rose about 23.8% between 2015 and 2024, from $496 to $614. Over the same span, rent in Arkansas rose about 40.1%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Monroe County.
Buying the median-priced home in Monroe County costs roughly 1.8 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 Monroe County. The price-to-rent ratio in Arkansas is about 9.9.
| Metric | Monroe County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $13,032 | $111,957 | $248,835 |
| Median Household Income | $43,668 | $60,940 | $80,455 |
| Price-to-Income Ratio | 0.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Monroe County fell about 88.5%, while median household income rose about 45.8% 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 | Monroe County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.6% | 57.4% | 58.5% |
| Rental Rate | 27.3% | 29.0% | 31.2% |
| Vacancy Rate | 27.1% | 13.5% | 10.2% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Monroe County has a homeownership rate of 45.6%, lower than the Arkansas average of 57.4%. Its housing vacancy rate is 27.1%, compared with 13.5% in Arkansas.
Housing Stock
| Metric | Monroe County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1975 | 1987 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Monroe County was built around 1975. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 18.0 years on average.
Monroe County, AR Housing Compared With Nearby Counties
How Monroe County, AR compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Monroe County, AR | 6,589 | $13,032 #2/2 | $614 #2/2 | 62.6% #1/2 |
| Phillips County, AR | 15,415 | $96,741 | $736 | 53.1% |
Frequently Asked Questions
Common questions about the housing market in Monroe County, Arkansas.
What is the median home price in Monroe County, Arkansas?
The median home price in Monroe County, Arkansas is $13,032, lower than the Arkansas average of $111,957.
What is the average home price in Monroe County, Arkansas?
The typical home price in Monroe County, Arkansas, reported as the median sale price, is $13,032. 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 Monroe County, Arkansas?
The median gross rent in Monroe County, Arkansas is $614 per month, lower than the Arkansas average of $947.
What was the median gross rent in Monroe County in 2020?
In 2020, the median gross rent in Monroe County, Arkansas was $508 per month.
What is the price-to-rent ratio in Monroe County, Arkansas?
The price-to-rent ratio in Monroe County, Arkansas is about 1.8, meaning it would take roughly 1.8 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 Monroe County.
Are home prices or rent rising faster in Monroe County, Arkansas?
Home prices and rent are moving in opposite directions in Monroe County: home prices fell about 4.3% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Monroe County, Arkansas?
45.6% of households in Monroe County, Arkansas own their home, lower than the Arkansas average of 57.4%.
What is the vacancy rate in Monroe County, Arkansas?
The housing vacancy rate in Monroe County, Arkansas is 27.1%, higher than the Arkansas average of 13.5%.
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