Conway, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Conway Neighborhoods Since 2000




Conway, AR Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Conway Housing Market Information

With 64,980 people, 23,439 houses or apartments, and a median cost of homes of $167,835, Conway real estate is some of the most expensive in Arkansas, although Conway home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Conway, accounting for 58.73% of the city's housing units. Other types of housing that are prevalent in Conway include large apartment complexes or high rise apartments ( 26.41%), duplexes, homes converted to apartments or other small apartment buildings ( 8.71%), and a few mobile homes or trailers ( 4.31%).

The most prevalent building size and type in Conway are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.56% owning and 54.44% renting.

There is a lot of housing in Conway built from 1970 to 1999 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 Conway built between 2000 and later ( 35.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.07%). There's also some housing in Conway built before 1939 ( 2.40%).

Vacant housing appears to be an issue in Conway. Fully 10.05% of the housing stock is classified as vacant. Left unchecked, vacant Conway homes and apartments can be a drag on the real estate market, holding Conway 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.

Conway Home Appreciation Rates

Appreciation rates for homes in Conway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.26%, which ranks in the top 40% nationwide. This equates to an annual average Conway house appreciation rate of 0.89%.

Over the last year, Conway appreciation rates have trailed the rest of the nation. In the last twelve months, Conway's appreciation rate has been 2.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Conway were at 2.34%, which equates to an annual appreciation rate of 9.69%.

Relative to Arkansas, our data show that Conway's latest annual appreciation rate is higher than 70% of the other cities and towns in Arkansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Conway differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Conway - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Conway real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$167,835

Conway, AR HOME PRICES

Value Range
> $1,078,000 0.6
$809,001 - $1,078,000 0.1
$539,001 - $809,000 0.5
$432,001 - $539,000 2.5
$324,001 - $432,000 6.8
$216,001 - $324,000 18.6
$108,001 - $216,000 50.0
$54,001 - $108,000 15.3
$0 - $54,000 5.6

Very High for AR
Average for Nation

Value Relative to Nation Value Relative to State
43.9428537970607 7.3943661971831

Number Of Homes And Apartments:
23,439

Conway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
37.04% 1.82% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$922 / per month

Homeownership Rate

Homeownership
Owners 45.56
Renters 54.44
Vacant 10.05

Housing Market Details

 

Age of Homes

AGE OF Conway HOMES
2000 or Newer 35.8
1970 - 1999 52.8
1940 - 1969 9.1
1939 or Older 2.4

Types of Homes

TYPE OF Conway HOMES
Single-Family 58.7
Townhomes 1.8
Small Apt. Buildings 8.7
Apt. Complexes 26.4
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Conway HOMES
No Bedroom 1.94
1 Bedroom 9.44
2 Bedrooms 31.12
3 Bedrooms 40.77
4 Bedrooms 14.67
5 or more bedrooms 2.07