Garfield appreciation rates and housing market information

Garfield housing market information

With 4,341 people, 6,060 houses or apartments, and a median cost of homes of $155,600, Garfield real estate is some of the most expensive in Arkansas, although Garfield home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Garfield, accounting for 76.30% of the town's housing units. Other types of housing that are prevalent in Garfield include mobile homes or trailers (20.35%), duplexes, homes converted to apartments, or other small apartment buildings (2.36%), and a few row houses and other attached homes (0.58%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Garfield. Owner-occupied housing accounts for 71.91% of Garfield's homes, and 62.08% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Garfield 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 Garfield built from 1995 and later (21.88%). A lesser amount of the housing stock also hails from 1940-1969 (18.61%), and some were built from 1939 and earlier (18.61%).

Garfield home appreciation rates

Appreciation rates for homes in Garfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.59%, which ranks in the top 40% nationwide. This equates to an annual average Garfield house appreciation rate of 8.85%.

Over the last year, Garfield appreciation rates have trailed the rest of the nation. In the last twelve months, Garfield's appreciation rate has been 0.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Garfield were at -0.42%, which equates to an annual appreciation rate of -1.68%.

Relative to Arkansas, our data show that Garfield's latest annual appreciation rate is higher than 16% of the other cities and towns in Arkansas.