The typical owner-occupied home in London is worth about $99,800, 47% below the Arkansas median of $188,000 and 70% below the national median of $332,700. Owners pay a median $670 a year in property taxes, about 0.67% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $49,688 a year, so the median home costs 2.0 times the median income (3.1 times for Arkansas). 74% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
London at a glance
| London | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $99,800 | $188,000 | $332,700 |
| Median property tax paid per year | $670 | $1,040 | $3,119 |
| Property tax as a share of value | 0.67% | 0.55% | 0.94% |
| Median household income | $49,688 | $60,773 | $80,734 |
| Homes lived in by their owners | 74% | 66% | 65% |
| Owner homes with a mortgage | 55% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,027 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 17.0% | 18.5% | 21.0% |
| Median rent | $827 | $947 | $1,413 |
| Rent as a share of renters' income | 42.2% | 27.6% | 30.6% |
| Median year homes were built | 1984 | 1987 | 1980 |
| Vacant homes | 10.4% | 13.5% | 10.1% |
| Population | 1,217 | 3,049,391 | 334,922,499 |
What a typical home costs per month in London
At this week's average 30-year rate of 7.11%, buying the median London home of $99,800 with 20% down costs about $634 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $801, 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 $27,189 for the 20%-down payment. That payment is 15% of the median London household income of $49,688; at that income and 20% down, the 28% guideline points to a home of about $182,000.
The median rent here is $827 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,960 |
|---|---|
| Loan amount | $79,840 |
| Principal and interest | $537 |
| Property taxes (0.67% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| PMI | $0 |
| Total per month | $634 |
Change the numbers in the calculator
| Down payment | $3,493 |
|---|---|
| Loan amount | $97,992 |
| Principal and interest | $659 |
| Property taxes (0.67% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| FHA mortgage insurance | $44 |
| Total per month | $801 |
Change the numbers in the calculator
Questions about home buying in London
What is the median home value in London?
About $99,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in London?
Homeowners pay a median $670 a year, which is about 0.67% 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 London?
For the median home with 20% down at 7.11%, the payment is about $634 a month. Keeping that under 28% of gross income takes about $27,189 a year.
More about London
- Mortgage Refinance in London
- Debt Relief in London
- Home Equity Loans in London
- 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