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 14,672, 4,252 total housing units (homes and apartments), and a median house value of $63,454, house prices in Forrest City 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 Forrest City, accounting for 64.08% of the city's housing units. Other types of housing that are prevalent in Forrest City include duplexes, homes converted to apartments or other small apartment buildings ( 16.82%), large apartment complexes or high rise apartments ( 13.14%), and a few mobile homes or trailers ( 3.20%).
Renters dominate Forrest City's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Forrest City 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 Forrest City built between 1940-1969 ( 26.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.62%). There's also some housing in Forrest City built before 1939 ( 2.98%).
Vacant housing appears to be an issue in Forrest City. Fully 13.75% of the housing stock is classified as vacant. Left unchecked, vacant Forrest City homes and apartments can be a drag on the real estate market, holding Forrest City 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 Forrest City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.37% during the period.
NeighborhoodScout's data show that during the latest twelve months, Forrest City's appreciation rate, at 5.53%, has been at or slightly above the national average. In the latest quarter, Forrest City's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.
Notably, Forrest City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arkansas, our data show that Forrest City's latest annual appreciation rate is higher than 80% of the other cities and towns in Arkansas.
|$778,001 - $1,037,000||0.0|
|$519,001 - $778,000||1.7|
|$415,001 - $519,000||0.3|
|$311,001 - $415,000||0.6|
|$207,001 - $311,000||2.0|
|$104,001 - $207,000||16.3|
|$52,001 - $104,000||48.6|
|$0 - $52,000||30.6|
|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 Forrest City HOMES|
|2000 or Newer||8.6|
|1970 - 1999||62.3|
|1940 - 1969||26.1|
|1939 or Older||3.0|
|TYPE OF Forrest City HOMES|
|Small Apt. Buildings||16.8|
|SIZE OF Forrest City HOMES|
|5 or more bedrooms||2.15|