Crossett, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Crossett, 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

Crossett Housing Market Information

With a population of 5,220, 2,026 total housing units (homes and apartments), and a median house value of $91,612, 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.

Crossett Home Appreciation Rates

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 9.57%, which ranks in the top 40% nationwide. This equates to an annual average Crossett house appreciation rate of 0.92%.

NeighborhoodScout's data show that during the latest twelve months, Crossett's appreciation rate, at 4.27%, has been at or slightly above the national average. In the latest quarter, Crossett's appreciation rate has been 0.58%, which annualizes to a rate of 2.33%.

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.

Average Home Values

 

Median Home Value:
$91,612

Crossett, AR HOME PRICES

Value Range
> $1,090,000 0.0
$817,001 - $1,090,000 0.0
$545,001 - $817,000 0.0
$436,001 - $545,000 0.0
$327,001 - $436,000 1.0
$218,001 - $327,000 7.4
$109,001 - $218,000 22.4
$54,001 - $109,000 44.1
$0 - $54,000 25.1

Average for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
83.7022073891914 52.4647887323944

Number Of Homes And Apartments:
2,026

Crossett 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
20.89% 1.09% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$715 / per month

Homeownership Rate

Homeownership
Owners 60.97
Renters 39.03
Vacant 24.06

Housing Market Details

 

Age of Homes

AGE OF Crossett HOMES
2000 or Newer 3.6
1970 - 1999 41.0
1940 - 1969 51.9
1939 or Older 3.5

Types of Homes

TYPE OF Crossett HOMES
Single-Family 80.3
Townhomes 1.3
Small Apt. Buildings 5.6
Apt. Complexes 10.7
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Crossett HOMES
No Bedroom 3.11
1 Bedroom 8.02
2 Bedrooms 19.68
3 Bedrooms 61.32
4 Bedrooms 7.50
5 or more bedrooms 0.37

Popular Neighborhoods in Crossett

Zip Codes in Crossett, AR