The typical owner-occupied home in Russell is worth about $75,000, 60% below the Arkansas median of $188,000 and 77% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.27% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $22,917 a year, so the median home costs 3.3 times the median income (3.1 times for Arkansas). 37% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Russell at a glance
| Russell | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $75,000 | $188,000 | $332,700 |
| Median property tax paid per year | $199 | $1,040 | $3,119 |
| Property tax as a share of value | 0.27% | 0.55% | 0.94% |
| Median household income | $22,917 | $60,773 | $80,734 |
| Homes lived in by their owners | 37% | 66% | 65% |
| Owner homes with a mortgage | 33% | 53% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,345 | $1,963 |
| Median rent | $298 | $947 | $1,413 |
| Rent as a share of renters' income | 32.4% | 27.6% | 30.6% |
| Median year homes were built | 1986 | 1987 | 1980 |
| Vacant homes | 9.1% | 13.5% | 10.1% |
| Population | 218 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Russell
At this week's average 30-year rate of 7.11%, buying the median Russell home of $75,000 with 20% down costs about $452 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $577, 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 $19,361 for the 20%-down payment. That payment is 24% of the median Russell household income of $22,917; at that income and 20% down, the 28% guideline points to a home of about $89,000.
The median rent here is $298 a month, so owning the median home costs about $154 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $15,000 |
|---|---|
| Loan amount | $60,000 |
| Principal and interest | $404 |
| Property taxes (0.27% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $452 |
Change the numbers in the calculator
| Down payment | $2,625 |
|---|---|
| Loan amount | $73,642 |
| Principal and interest | $495 |
| Property taxes (0.27% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $577 |
Change the numbers in the calculator
Questions about home buying in Russell
What is the median home value in Russell?
About $75,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Russell?
Homeowners pay a median $199 a year, which is about 0.27% 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 Russell?
For the median home with 20% down at 7.11%, the payment is about $452 a month. Keeping that under 28% of gross income takes about $19,361 a year.
More about Russell
- Mortgage Refinance in Russell
- Debt Relief in Russell
- Home Equity Loans in Russell
- 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