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 | Sebastian County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,442 | $123,805 | $242,182 |
| Price Trend (Annual %) | 5.1% | 5.2% | 8.2% |
| Median Gross Rent | $853 | $913 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sebastian County is about 4% higher than in Arkansas. Rent is about 7% 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 Sebastian County, up about 5.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Sebastian County rose about 35.4% between 2015 and 2023, from $630 to $853. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Sebastian County.
Buying the median-priced home in Sebastian County costs roughly 12.5 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 Sebastian County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Sebastian County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,442 | $123,805 | $242,182 |
| Median Household Income | $56,684 | $58,772 | $78,145 |
| Price-to-Income Ratio | 2.3 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sebastian County rose about 33.9%, while median household income rose about 45.6% 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 | Sebastian County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.6% | 56.9% | 58.2% |
| Rental Rate | 35.2% | 29.1% | 31.3% |
| Vacancy Rate | 9.2% | 14.0% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Sebastian County has a homeownership rate of 55.6%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 9.2%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Sebastian County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Sebastian County was built around 1986. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sebastian County, Arkansas.
What is the median home price in Sebastian County, Arkansas?
The median home price in Sebastian County, Arkansas is $128,442, higher than the Arkansas average of $123,805.
What is the average home price in Sebastian 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 Sebastian County, Arkansas?
The median gross rent in Sebastian County, Arkansas is $853 per month, lower than the Arkansas average of $913.
What was the median gross rent in Sebastian County in 2020?
In 2020, the median gross rent in Sebastian County, Arkansas was $715 per month.
What is the price-to-rent ratio in Sebastian County, Arkansas?
The price-to-rent ratio in Sebastian County, Arkansas is about 12.5, meaning it would take roughly 12.5 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 Sebastian County.
Are home prices or rent rising faster in Sebastian County, Arkansas?
Both home prices and rent are rising in Sebastian County, up about 5.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sebastian County, Arkansas?
55.6% of households in Sebastian County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Sebastian County, Arkansas?
The housing vacancy rate in Sebastian County, Arkansas is 9.2%, lower than the Arkansas average of 14.0%.