Phillips County, Arkansas Housing Market Prices
Phillips 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 14% below the Arkansas median$96,741
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Median rent 22% below the Arkansas median$736
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Phillips County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $96,741 | $111,957 | $248,835 |
| Price Trend (Annual %) | 9.4% | 3.4% | 7.5% |
| Median Gross Rent | $736 | $947 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Phillips County is about 14% lower than in Arkansas. Rent is about 22% 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 Phillips County, up about 9.4% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Phillips County rose about 25.2% between 2015 and 2024, from $588 to $736. Over the same span, rent in Arkansas rose about 40.1%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Phillips County.
Buying the median-priced home in Phillips County costs roughly 11.0 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 Phillips County. The price-to-rent ratio in Arkansas is about 9.9.
| Metric | Phillips County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $96,741 | $111,957 | $248,835 |
| Median Household Income | $40,138 | $60,940 | $80,455 |
| Price-to-Income Ratio | 2.4 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Phillips County rose about 85.1%, while median household income rose about 38.2% 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 | Phillips County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.4% | 57.4% | 58.5% |
| Rental Rate | 34.0% | 29.0% | 31.2% |
| Vacancy Rate | 27.6% | 13.5% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Phillips County has a homeownership rate of 38.4%, lower than the Arkansas average of 57.4%. Its housing vacancy rate is 27.6%, compared with 13.5% in Arkansas.
Housing Stock
| Metric | Phillips County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1977 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Phillips County was built around 1977. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Phillips County, Arkansas.
What is the median home price in Phillips County, Arkansas?
The median home price in Phillips County, Arkansas is $96,741, lower than the Arkansas average of $111,957.
What is the average home price in Phillips County, Arkansas?
The typical home price in Phillips County, Arkansas, reported as the median sale price, is $96,741. 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 Phillips County, Arkansas?
The median gross rent in Phillips County, Arkansas is $736 per month, lower than the Arkansas average of $947.
What was the median gross rent in Phillips County in 2020?
In 2020, the median gross rent in Phillips County, Arkansas was $572 per month.
What is the price-to-rent ratio in Phillips County, Arkansas?
The price-to-rent ratio in Phillips County, Arkansas is about 11.0, meaning it would take roughly 11.0 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 Phillips County.
Are home prices or rent rising faster in Phillips County, Arkansas?
Both home prices and rent are rising in Phillips County, up about 9.4% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Phillips County, Arkansas?
38.4% of households in Phillips County, Arkansas own their home, lower than the Arkansas average of 57.4%.
What is the vacancy rate in Phillips County, Arkansas?
The housing vacancy rate in Phillips County, Arkansas is 27.6%, higher than the Arkansas average of 13.5%.
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