The typical owner-occupied home in Arkansas is worth about $188,000, 43% below the national median of $332,700. Owners pay a median $1,040 a year in property taxes, about 0.55% of their home's value, lower than the national rate of 0.94%. The median household earns $60,773 a year, so the median home costs 3.1 times the median income (4.1 times for the U.S.). 66% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Arkansas at a glance
| Arkansas | U.S. | |
|---|---|---|
| Median home value | $188,000 | $332,700 |
| Median property tax paid per year | $1,040 | $3,119 |
| Property tax as a share of value | 0.55% | 0.94% |
| Median household income | $60,773 | $80,734 |
| Homes lived in by their owners | 66% | 65% |
| Owner homes with a mortgage | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 21.0% |
| Median rent | $947 | $1,413 |
| Rent as a share of renters' income | 27.6% | 30.6% |
| Median year homes were built | 1987 | 1980 |
| Vacant homes | 13.5% | 10.1% |
| Population | 3,049,391 | 334,922,499 |
What a typical home costs per month in Arkansas
At this week's average 30-year rate of 7.11%, buying the median Arkansas home of $188,000 with 20% down costs about $1,176 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,489, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $50,411 for the 20%-down payment. That payment is 23% of the median Arkansas household income of $60,773; at that income and 20% down, the 28% guideline points to a home of about $227,000.
The median rent here is $947 a month, so owning the median home costs about $229 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,600 |
|---|---|
| Loan amount | $150,400 |
| Principal and interest | $1,012 |
| Property taxes (0.55% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,176 |
Change the numbers in the calculator
| Down payment | $6,580 |
|---|---|
| Loan amount | $184,595 |
| Principal and interest | $1,242 |
| Property taxes (0.55% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,489 |
Change the numbers in the calculator
Questions about home buying in Arkansas
What is the median home value in Arkansas?
About $188,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Arkansas?
Homeowners pay a median $1,040 a year, which is about 0.55% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Arkansas?
For the median home with 20% down at 7.11%, the payment is about $1,176 a month. Keeping that under 28% of gross income takes about $50,411 a year.
More about Arkansas
- Mortgage Refinance in Arkansas
- Debt Relief in Arkansas
- Home Equity Loans in Arkansas
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data