The typical owner-occupied home in Grady is worth about $50,000, 73% below the Arkansas median of $188,000 and 85% below the national median of $332,700. Owners pay a median $313 a year in property taxes, about 0.63% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $46,250 a year, so the median home costs 1.1 times the median income (3.1 times for Arkansas). 68% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
Grady at a glance
| Grady | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $50,000 | $188,000 | $332,700 |
| Median property tax paid per year | $313 | $1,040 | $3,119 |
| Property tax as a share of value | 0.63% | 0.55% | 0.94% |
| Median household income | $46,250 | $60,773 | $80,734 |
| Homes lived in by their owners | 68% | 66% | 65% |
| Owner homes with a mortgage | 18% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $833 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 18.5% | 21.0% |
| Median rent | $771 | $947 | $1,413 |
| Rent as a share of renters' income | 51.0% | 27.6% | 30.6% |
| Median year homes were built | 1974 | 1987 | 1980 |
| Vacant homes | 50.0% | 13.5% | 10.1% |
| Population | 168 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Grady
At this week's average 30-year rate of 7.11%, buying the median Grady home of $50,000 with 20% down costs about $316 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $399, 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 $13,550 for the 20%-down payment. That payment is 8% of the median Grady household income of $46,250; at that income and 20% down, the 28% guideline points to a home of about $171,000.
The median rent here is $771 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $10,000 |
|---|---|
| Loan amount | $40,000 |
| Principal and interest | $269 |
| Property taxes (0.63% a year) | $26 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| PMI | $0 |
| Total per month | $316 |
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| Down payment | $1,750 |
|---|---|
| Loan amount | $49,094 |
| Principal and interest | $330 |
| Property taxes (0.63% a year) | $26 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| FHA mortgage insurance | $22 |
| Total per month | $399 |
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Questions about home buying in Grady
What is the median home value in Grady?
About $50,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grady?
Homeowners pay a median $313 a year, which is about 0.63% 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 Grady?
For the median home with 20% down at 7.11%, the payment is about $316 a month. Keeping that under 28% of gross income takes about $13,550 a year.
More about Grady
- Mortgage Refinance in Grady
- Debt Relief in Grady
- Home Equity Loans in Grady
- 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