Eureka Springs appreciation rates and housing market information

Eureka Springs housing market information

With 2,261 people, 1,306 houses or apartments, and a median cost of homes of $168,429, Eureka Springs real estate is some of the most expensive in Arkansas, although Eureka Springs home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Eureka Springs, accounting for 71.44% of the city's housing units. Other types of housing that are prevalent in Eureka Springs include duplexes, homes converted to apartments, or other small apartment buildings (13.48%), large apartment complexes or high rise apartments (8.58%), mobile homes or trailers (3.68%), and a few row houses and other attached homes (2.45%).

People in Eureka Springs primarily live in small (one, two, or no bedroom) single-family detached homes. Eureka Springs has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Eureka Springs built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Eureka Springs built from 1939 and earlier (35.53%). A lesser amount of the housing stock also hails from 1940-1969 (19.75%), and some were built from 1995 and later (19.75%).

Vacant housing appears to be an issue in Eureka Springs. Fully 14.01% of the housing stock is classified as vacant. Left unchecked, vacant Eureka Springs homes and apartments can be a drag on the real estate market, holding Eureka Springs real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Eureka Springs home appreciation rates

Real estate appreciation rates in Eureka Springs have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.26% during the period.

Appreciation rates are so strong in Eureka Springs that despite a nationwide downturn in the housing market, Eureka Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Eureka Springs appreciation rates continue to be some of the highest in America, at 3.51%, which is higher than appreciation rates in 79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Eureka Springs. Eureka Springs appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.52%.

Relative to Arkansas, our data show that Eureka Springs's latest annual appreciation rate is higher than 78% of the other cities and towns in Arkansas.