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.
Housing Market Overview
| Metric | Pine Bluff | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $18,531 | $123,805 | $242,182 |
| Price Trend (Annual %) | -0.7% | 5.2% | 8.2% |
| Median Gross Rent | $826 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pine Bluff is about 85% lower than in Arkansas. Rent is about 10% lower than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Pine Bluff: home prices fell about 0.7% a year while rent rose about 3.0% a year. That is an unusual pattern worth watching.
Median rent in Pine Bluff rose about 24.3% between 2015 and 2023, from $664 to $826. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Pine Bluff.
Buying the median-priced home in Pine Bluff costs roughly 1.9 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 Pine Bluff. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Pine Bluff | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $18,531 | $123,805 | $242,182 |
| Median Household Income | $40,867 | $58,772 | $78,145 |
| Price-to-Income Ratio | 0.5 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pine Bluff fell about 22.3%, while median household income rose about 40.9% 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 | Pine Bluff | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.0% | 56.9% | 58.2% |
| Rental Rate | 35.7% | 29.1% | 31.3% |
| Vacancy Rate | 24.3% | 14.0% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Pine Bluff has a homeownership rate of 40.0%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 24.3%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Pine Bluff | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1969 | 1986 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Pine Bluff was built around 1969. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pine Bluff, Arkansas.
What is the median home price in Pine Bluff, Arkansas?
The median home price in Pine Bluff, Arkansas is $18,531, lower than the Arkansas average of $123,805.
What is the average home price in Pine Bluff, 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 Pine Bluff, Arkansas?
The median gross rent in Pine Bluff, Arkansas is $826 per month, lower than the Arkansas average of $913.
What was the median gross rent in Pine Bluff in 2020?
In 2020, the median gross rent in Pine Bluff, Arkansas was $723 per month.
What is the price-to-rent ratio in Pine Bluff, Arkansas?
The price-to-rent ratio in Pine Bluff, Arkansas is about 1.9, meaning it would take roughly 1.9 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 Pine Bluff.
Are home prices or rent rising faster in Pine Bluff, Arkansas?
Home prices and rent are moving in opposite directions in Pine Bluff: home prices fell about 0.7% a year while rent rose about 3.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Pine Bluff, Arkansas?
40.0% of households in Pine Bluff, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Pine Bluff, Arkansas?
The housing vacancy rate in Pine Bluff, Arkansas is 24.3%, higher than the Arkansas average of 14.0%.