Current home values in Arkansas

Home values have been rising throughout Arkansas and are up 2.7% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $264,435, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Arkansas: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $264,435 home at 3.33% would give a typical Arkansas homebuyer a monthly payment of $930, assuming a 20% down payment.

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How the Arkansas housing market stacks up

Family of six sititng outside their home
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Families can celebrate Arkansas life together

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Arkansas, they're predicted to rise 5%.

Homes right now are going on the market in Arkansas at a median price of $99 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Arkansas home prices over the last 10 years

Year Avg. Price
2020* $130,469
2019 $127,088
2018 $121,658
2017 $115,467
2016 $109,433
2015 $103,450
2014 $99,875
2013 $97,183
2012 $93,958
2011 $94,425
2010 $97,275
2009 $98,950

*2020 price average through March 31, 2020.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in Arkansas is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $246,775
2019 $200,000
2018 $192,500
2017 $185,000
2016 $175,000
2015 $165,000
2014 $160,000
2013 $155,000
2012 $150,000
2011 $150,000
2010 $155,000
2009 $157,500

*2020 price average through March 31, 2020.

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