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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 3,162, 1,548 total housing units (homes and apartments), and a median house value of $57,983, house prices in Corning are some of the most affordable in Arkansas as well as the nation.
Single-family detached homes are the single most common housing type in Corning, accounting for 78.58% of the city's housing units. Other types of housing that are prevalent in Corning include large apartment complexes or high rise apartments ( 8.91%), duplexes, homes converted to apartments or other small apartment buildings ( 6.55%), and a few mobile homes or trailers ( 4.24%).
The most prevalent building size and type in Corning are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.53% owning and 41.47% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Corning's housing was primarily built during this period, from the '40s through the '60s. A full 46.16% of the city's housing hails from this era. Other housing ages represented in Corning include homes built between 1970-1999 ( 44.55%) and housing constructed between 2000 and later ( 5.26%). There's also some housing in Corning built before 1939 ( 4.03%).
Vacant housing appears to be an issue in Corning. Fully 16.91% of the housing stock is classified as vacant. Left unchecked, vacant Corning homes and apartments can be a drag on the real estate market, holding Corning 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.
Real estate appreciation rates in Corning's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.
Over the last year, Corning appreciation rates have trailed the rest of the nation. In the last twelve months, Corning's appreciation rate has been 1.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corning were at 0.57%, which equates to an annual appreciation rate of 2.31%.
Notably, Corning's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arkansas, our data show that Corning's latest annual appreciation rate is lower than 60% of the other cities and towns in Arkansas.
|$781,001 - $1,042,000||0.0|
|$521,001 - $781,000||0.8|
|$417,001 - $521,000||1.3|
|$312,001 - $417,000||3.0|
|$209,001 - $312,000||4.7|
|$104,001 - $209,000||9.1|
|$52,001 - $104,000||29.8|
|$0 - $52,000||51.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Corning HOMES|
|2000 or Newer||5.3|
|1970 - 1999||44.6|
|1940 - 1969||46.2|
|1939 or Older||4.0|
|TYPE OF Corning HOMES|
|Small Apt. Buildings||6.5|
|SIZE OF Corning HOMES|
|5 or more bedrooms||0.81|