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 | Searcy County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,467 | $123,805 | $242,182 |
| Price Trend (Annual %) | 31.6% | 5.2% | 8.2% |
| Median Gross Rent | $595 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Searcy County is about 72% higher than in Arkansas. Rent is about 35% 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 Searcy County, up about 31.6% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Searcy County rose about 41.3% between 2015 and 2023, from $421 to $595. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Searcy County.
Buying the median-priced home in Searcy County costs roughly 29.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Searcy County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Searcy County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,467 | $123,805 | $242,182 |
| Median Household Income | $41,905 | $58,772 | $78,145 |
| Price-to-Income Ratio | 5.1 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Searcy County rose about 120.1%, while median household income rose about 53.3% between 2009 and 2023 — 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 | Searcy County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.6% | 56.9% | 58.2% |
| Rental Rate | 16.1% | 29.1% | 31.3% |
| Vacancy Rate | 35.4% | 14.0% | 10.6% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Searcy County has a homeownership rate of 48.6%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 35.4%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Searcy County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1980 | 1986 | 1978 |
| Median Number of Rooms | 5.0 | 5.5 | 5.5 |
The typical housing unit in Searcy County was built around 1980. On average, 2.5 people live in a home with about 5.0 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Searcy County, Arkansas.
What is the median home price in Searcy County, Arkansas?
The median home price in Searcy County, Arkansas is $213,467, higher than the Arkansas average of $123,805.
What is the average home price in Searcy 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 Searcy County, Arkansas?
The median gross rent in Searcy County, Arkansas is $595 per month, lower than the Arkansas average of $913.
What was the median gross rent in Searcy County in 2020?
In 2020, the median gross rent in Searcy County, Arkansas was $535 per month.
What is the price-to-rent ratio in Searcy County, Arkansas?
The price-to-rent ratio in Searcy County, Arkansas is about 29.9, meaning it would take roughly 29.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Searcy County.
Are home prices or rent rising faster in Searcy County, Arkansas?
Both home prices and rent are rising in Searcy County, up about 31.6% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Searcy County, Arkansas?
48.6% of households in Searcy County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Searcy County, Arkansas?
The housing vacancy rate in Searcy County, Arkansas is 35.4%, higher than the Arkansas average of 14.0%.