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 14,672 people, 4,252 houses or apartments, and a median cost of homes of $64,042, 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.

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 -0.08% during the period.

NeighborhoodScout's data show that during the latest twelve months, Forrest City's appreciation rate, at 5.20%, has been at or slightly above the national average. In the latest quarter, Forrest City's appreciation rate has been 1.25%, which annualizes to a rate of 5.07%.

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.

Average Home Values

 

Median Home Value:
$64,042

Forrest City, AR HOME PRICES

Value Range
> $1,047,000 0.0
$785,001 - $1,047,000 0.0
$523,001 - $785,000 1.7
$419,001 - $523,000 0.3
$314,001 - $419,000 0.6
$209,001 - $314,000 2.0
$105,001 - $209,000 16.3
$52,001 - $105,000 48.6
$0 - $52,000 30.6

Very Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
96.9998828079222 86.9718309859155

Number Of Homes And Apartments:
4,252

Rent & Ownership

 

Average Market Rent:
$794 / per month

Homeownership Rate

Homeownership
Owners 33.43
Renters 66.57
Vacant 13.75

Housing Market Details

 

Age of Homes

AGE OF Forrest City HOMES
2000 or Newer 8.6
1970 - 1999 62.3
1940 - 1969 26.1
1939 or Older 3.0

Types of Homes

TYPE OF Forrest City HOMES
Single-Family 64.1
Townhomes 2.5
Small Apt. Buildings 16.8
Apt. Complexes 13.1
Mobile Homes 3.2
Other 0.3

Home Size

SIZE OF Forrest City HOMES
No Bedroom 2.29
1 Bedroom 8.24
2 Bedrooms 32.15
3 Bedrooms 47.38
4 Bedrooms 7.79
5 or more bedrooms 2.15

Forrest City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
8.73% 0.49% 1 1
* 10 is highest

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Zip Codes in Forrest City, AR