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 $170,200, 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 7.56% during the period.

NeighborhoodScout's data show that during the latest twelve months, Eureka Springs home appreciation rates, at 4.26%, have been at or slightly above the national average. In the latest quarter, Eureka Springs's appreciation rate has been 0.97%, which annualizes to a rate of 3.88%.

Importantly, this makes Eureka Springs one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Arkansas, our data show that Eureka Springs's latest annual appreciation rate is higher than 79% of the other cities and towns in Arkansas.