The typical owner-occupied home in Trumann is worth about $112,300, 40% below the Arkansas median of $188,000 and 66% below the national median of $332,700. Owners pay a median $730 a year in property taxes, about 0.65% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $38,881 a year, so the median home costs 2.9 times the median income (3.1 times for Arkansas). 52% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Trumann at a glance
| Trumann | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $112,300 | $188,000 | $332,700 |
| Median property tax paid per year | $730 | $1,040 | $3,119 |
| Property tax as a share of value | 0.65% | 0.55% | 0.94% |
| Median household income | $38,881 | $60,773 | $80,734 |
| Homes lived in by their owners | 52% | 66% | 65% |
| Owner homes with a mortgage | 55% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $982 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 18.5% | 21.0% |
| Median rent | $586 | $947 | $1,413 |
| Rent as a share of renters' income | 30.6% | 27.6% | 30.6% |
| Median year homes were built | 1976 | 1987 | 1980 |
| Vacant homes | 13.5% | 13.5% | 10.1% |
| Population | 7,410 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Trumann
At this week's average 30-year rate of 7.11%, buying the median Trumann home of $112,300 with 20% down costs about $712 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $899, 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 $30,513 for the 20%-down payment. That payment is 22% of the median Trumann household income of $38,881; at that income and 20% down, the 28% guideline points to a home of about $143,000.
The median rent here is $586 a month, so owning the median home costs about $126 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,460 |
|---|---|
| Loan amount | $89,840 |
| Principal and interest | $604 |
| Property taxes (0.65% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $712 |
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| Down payment | $3,930 |
|---|---|
| Loan amount | $110,266 |
| Principal and interest | $742 |
| Property taxes (0.65% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $899 |
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Questions about home buying in Trumann
What is the median home value in Trumann?
About $112,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Trumann?
Homeowners pay a median $730 a year, which is about 0.65% 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 Trumann?
For the median home with 20% down at 7.11%, the payment is about $712 a month. Keeping that under 28% of gross income takes about $30,513 a year.
More about Trumann
- Mortgage Refinance in Trumann
- Debt Relief in Trumann
- Home Equity Loans in Trumann
- 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