Forrest City, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Forrest City, AR Real Estate Data


Forrest City Housing Market Information

With a population of 14,672, 4,115 total housing units (homes and apartments), and a median house value of $77,899, house prices in Forrest City are solidly below the national average.

Single-family detached homes are the single most common housing type in Forrest City, accounting for 69.50% 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 ( 16.11%), large apartment complexes or high rise apartments ( 9.40%), and a few mobile homes or trailers ( 3.05%).

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 ( 27.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.18%). There's also some housing in Forrest City built before 1939 ( 4.80%).

Vacant housing appears to be an issue in Forrest City. Fully 13.44% 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.

Forrest City Home Appreciation Rates

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 -0.55% during the period.

Over the last year, Forrest City appreciation rates have trailed the rest of the nation. In the last twelve months, Forrest City's appreciation rate has been 3.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forrest City were at 1.56%, which equates to an annual appreciation rate of 6.38%.

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

Average Home Values

 

Median Home Value:
$77,899

Forrest City, AR HOME PRICES

Value Range
> $1,017,000 0.0
$763,001 - $1,017,000 0.0
$509,001 - $763,000 2.3
$407,001 - $509,000 0.2
$305,001 - $407,000 0.8
$203,001 - $305,000 2.1
$102,001 - $203,000 18.9
$51,001 - $102,000 48.7
$0 - $51,000 26.9

Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
92.2878725771506 71.830985915493

Number Of Homes And Apartments:
4,115

Rent & Ownership

 

Average Market Rent:
$791 / per month

Homeownership Rate

Homeownership
Owners 33.57
Renters 66.43
Vacant 13.44

Housing Market Details

 

Age of Homes

AGE OF Forrest City HOMES
2000 or Newer 8.2
1970 - 1999 59.1
1940 - 1969 28.0
1939 or Older 4.8

Types of Homes

TYPE OF Forrest City HOMES
Single-Family 69.5
Townhomes 1.6
Small Apt. Buildings 16.1
Apt. Complexes 9.4
Mobile Homes 3.1
Other 0.4

Home Size

SIZE OF Forrest City HOMES
No Bedroom 1.43
1 Bedroom 7.49
2 Bedrooms 30.86
3 Bedrooms 48.17
4 Bedrooms 10.41
5 or more bedrooms 1.64

Forrest City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
7.66% 0.43% 1 1
* 10 is highest

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Zip Codes in Forrest City, AR