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 | Sevier County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,145 | $123,805 | $242,182 |
| Price Trend (Annual %) | 565.6% | 5.2% | 8.2% |
| Median Gross Rent | $725 | $913 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sevier County is about 346% higher than in Arkansas. Rent is about 21% 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 Sevier County, up about 565.6% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Sevier County rose about 33.7% between 2015 and 2023, from $542 to $725. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 10.7 yearly household incomes in Sevier County.
Buying the median-priced home in Sevier County costs roughly 63.5 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 Sevier County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Sevier County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,145 | $123,805 | $242,182 |
| Median Household Income | $51,395 | $58,772 | $78,145 |
| Price-to-Income Ratio | 10.7 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sevier County rose about 4691.2%, while median household income rose about 51.1% 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 | Sevier County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.0% | 56.9% | 58.2% |
| Rental Rate | 29.2% | 29.1% | 31.3% |
| Vacancy Rate | 15.8% | 14.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Sevier County has a homeownership rate of 55.0%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 15.8%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Sevier County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1982 | 1986 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Sevier County was built around 1982. On average, 2.8 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sevier County, Arkansas.
What is the median home price in Sevier County, Arkansas?
The median home price in Sevier County, Arkansas is $552,145, higher than the Arkansas average of $123,805.
What is the average home price in Sevier 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 Sevier County, Arkansas?
The median gross rent in Sevier County, Arkansas is $725 per month, lower than the Arkansas average of $913.
What was the median gross rent in Sevier County in 2020?
In 2020, the median gross rent in Sevier County, Arkansas was $601 per month.
What is the price-to-rent ratio in Sevier County, Arkansas?
The price-to-rent ratio in Sevier County, Arkansas is about 63.5, meaning it would take roughly 63.5 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 Sevier County.
Are home prices or rent rising faster in Sevier County, Arkansas?
Both home prices and rent are rising in Sevier County, up about 565.6% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sevier County, Arkansas?
55.0% of households in Sevier County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Sevier County, Arkansas?
The housing vacancy rate in Sevier County, Arkansas is 15.8%, higher than the Arkansas average of 14.0%.