The typical owner-occupied home in Leola is worth about $51,900, 72% below the Arkansas median of $188,000 and 84% below the national median of $332,700. Owners pay a median $343 a year in property taxes, about 0.66% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $44,063 a year, so the median home costs 1.2 times the median income (3.1 times for Arkansas). 72% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Leola at a glance
| Leola | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $51,900 | $188,000 | $332,700 |
| Median property tax paid per year | $343 | $1,040 | $3,119 |
| Property tax as a share of value | 0.66% | 0.55% | 0.94% |
| Median household income | $44,063 | $60,773 | $80,734 |
| Homes lived in by their owners | 72% | 66% | 65% |
| Owner homes with a mortgage | 31% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $838 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 16.1% | 18.5% | 21.0% |
| Median rent | $725 | $947 | $1,413 |
| Rent as a share of renters' income | 26.7% | 27.6% | 30.6% |
| Median year homes were built | 1975 | 1987 | 1980 |
| Vacant homes | 17.7% | 13.5% | 10.1% |
| Population | 414 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Leola
At this week's average 30-year rate of 7.11%, buying the median Leola home of $51,900 with 20% down costs about $329 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $416, 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 $14,121 for the 20%-down payment. That payment is 9% of the median Leola household income of $44,063; at that income and 20% down, the 28% guideline points to a home of about $162,000.
The median rent here is $725 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $10,380 |
|---|---|
| Loan amount | $41,520 |
| Principal and interest | $279 |
| Property taxes (0.66% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $22 |
| PMI | $0 |
| Total per month | $329 |
Change the numbers in the calculator
| Down payment | $1,816 |
|---|---|
| Loan amount | $50,960 |
| Principal and interest | $343 |
| Property taxes (0.66% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $22 |
| FHA mortgage insurance | $23 |
| Total per month | $416 |
Change the numbers in the calculator
Questions about home buying in Leola
What is the median home value in Leola?
About $51,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Leola?
Homeowners pay a median $343 a year, which is about 0.66% 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 Leola?
For the median home with 20% down at 7.11%, the payment is about $329 a month. Keeping that under 28% of gross income takes about $14,121 a year.
More about Leola
- Mortgage Refinance in Leola
- Debt Relief in Leola
- Home Equity Loans in Leola
- 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