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 5,220 people, 2,026 houses or apartments, and a median cost of homes of $91,086, the cost of homes in Crossett is among some of the lowest in the nation. Compared to Arkansas, however, Crossett real state is not on the lower end of the price spectrum.
Single-family detached homes are the single most common housing type in Crossett, accounting for 80.28% of the city's housing units. Other types of housing that are prevalent in Crossett include large apartment complexes or high rise apartments ( 10.72%), duplexes, homes converted to apartments or other small apartment buildings ( 5.58%), and a few mobile homes or trailers ( 2.14%).
The most prevalent building size and type in Crossett are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.97% owning and 39.03% 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. Crossett's housing was primarily built during this period, from the '40s through the '60s. A full 51.91% of the city's housing hails from this era. Other housing ages represented in Crossett include homes built between 1970-1999 ( 41.04%) and housing constructed between 2000 and later ( 3.56%). There's also some housing in Crossett built before 1939 ( 3.49%).
Vacant housing appears to be an issue in Crossett. Fully 24.06% of the housing stock is classified as vacant. Left unchecked, vacant Crossett homes and apartments can be a drag on the real estate market, holding Crossett 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.
Appreciation rates for homes in Crossett have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.33%, which ranks in the top 40% nationwide. This equates to an annual average Crossett house appreciation rate of 0.80%.
Appreciation rates are so strong in Crossett that despite a nationwide downturn in the housing market, Crossett real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Crossett appreciation rates continue to be some of the highest in America, at 6.26%, which is higher than appreciation rates in 76.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Crossett. Crossett appreciation rates in the latest quarter were at -1.14%, which equates to an annual appreciation rate of -4.49%.
Notably, Crossett's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arkansas, our data show that Crossett's latest annual appreciation rate is higher than 80% of the other cities and towns in Arkansas.
|$813,001 - $1,084,000||0.0|
|$542,001 - $813,000||0.0|
|$433,001 - $542,000||0.0|
|$325,001 - $433,000||1.0|
|$217,001 - $325,000||7.4|
|$108,001 - $217,000||22.4|
|$54,001 - $108,000||44.1|
|$0 - $54,000||25.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Crossett HOMES|
|2000 or Newer||3.6|
|1970 - 1999||41.0|
|1940 - 1969||51.9|
|1939 or Older||3.5|
|TYPE OF Crossett HOMES|
|Small Apt. Buildings||5.6|
|SIZE OF Crossett HOMES|
|5 or more bedrooms||0.37|