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 | Woodruff County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,657 | $123,805 | $242,182 |
| Price Trend (Annual %) | 8.7% | 5.2% | 8.2% |
| Median Gross Rent | $594 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Woodruff County is about 81% lower 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 Woodruff County, up about 8.7% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Woodruff County rose about 26.9% between 2015 and 2023, from $468 to $594. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Woodruff County.
Buying the median-priced home in Woodruff County costs roughly 3.3 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 Woodruff County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Woodruff County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,657 | $123,805 | $242,182 |
| Median Household Income | $49,974 | $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 Woodruff County fell about 58.9%, while median household income rose about 77.5% 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 | Woodruff County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.3% | 56.9% | 58.2% |
| Rental Rate | 28.8% | 29.1% | 31.3% |
| Vacancy Rate | 15.9% | 14.0% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Woodruff County has a homeownership rate of 55.3%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 15.9%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Woodruff County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 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 Woodruff County was built around 1982. On average, 2.2 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Woodruff County, Arkansas.
What is the median home price in Woodruff County, Arkansas?
The median home price in Woodruff County, Arkansas is $23,657, lower than the Arkansas average of $123,805.
What is the average home price in Woodruff 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 Woodruff County, Arkansas?
The median gross rent in Woodruff County, Arkansas is $594 per month, lower than the Arkansas average of $913.
What was the median gross rent in Woodruff County in 2020?
In 2020, the median gross rent in Woodruff County, Arkansas was $522 per month.
What is the price-to-rent ratio in Woodruff County, Arkansas?
The price-to-rent ratio in Woodruff County, Arkansas is about 3.3, meaning it would take roughly 3.3 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 Woodruff County.
Are home prices or rent rising faster in Woodruff County, Arkansas?
Both home prices and rent are rising in Woodruff County, up about 8.7% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Woodruff County, Arkansas?
55.3% of households in Woodruff County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Woodruff County, Arkansas?
The housing vacancy rate in Woodruff County, Arkansas is 15.9%, higher than the Arkansas average of 14.0%.