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 | Randolph County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,785 | $123,805 | $242,182 |
| Price Trend (Annual %) | 10.2% | 5.2% | 8.2% |
| Median Gross Rent | $671 | $913 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Randolph County is about 6% higher than in Arkansas. Rent is about 27% 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 Randolph County, up about 10.2% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Randolph County rose about 26.4% between 2015 and 2023, from $531 to $671. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Randolph County.
Buying the median-priced home in Randolph County costs roughly 16.4 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 Randolph County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Randolph County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,785 | $123,805 | $242,182 |
| Median Household Income | $51,651 | $58,772 | $78,145 |
| Price-to-Income Ratio | 2.6 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Randolph County rose about 58.0%, while median household income rose about 78.4% 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 | Randolph County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 56.9% | 58.2% |
| Rental Rate | 22.0% | 29.1% | 31.3% |
| Vacancy Rate | 18.0% | 14.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Randolph County has a homeownership rate of 60.1%, higher than the Arkansas average of 56.9%. Its housing vacancy rate is 18.0%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Randolph County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1981 | 1986 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Randolph County was built around 1981. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Randolph County, Arkansas.
What is the median home price in Randolph County, Arkansas?
The median home price in Randolph County, Arkansas is $131,785, higher than the Arkansas average of $123,805.
What is the average home price in Randolph 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 Randolph County, Arkansas?
The median gross rent in Randolph County, Arkansas is $671 per month, lower than the Arkansas average of $913.
What was the median gross rent in Randolph County in 2020?
In 2020, the median gross rent in Randolph County, Arkansas was $637 per month.
What is the price-to-rent ratio in Randolph County, Arkansas?
The price-to-rent ratio in Randolph County, Arkansas is about 16.4, meaning it would take roughly 16.4 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 Randolph County.
Are home prices or rent rising faster in Randolph County, Arkansas?
Both home prices and rent are rising in Randolph County, up about 10.2% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Randolph County, Arkansas?
60.1% of households in Randolph County, Arkansas own their home, higher than the Arkansas average of 56.9%.
What is the vacancy rate in Randolph County, Arkansas?
The housing vacancy rate in Randolph County, Arkansas is 18.0%, higher than the Arkansas average of 14.0%.