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 about Scout's Real Estate Data
With 610 people, 200 houses or apartments, and a median cost of homes of $256,616, Garfield real estate is some of the most expensive in Arkansas, although Garfield home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Garfield, accounting for 73.00% of the town's housing units. Other types of housing that are prevalent in Garfield include mobile homes or trailers ( 20.68%), duplexes, homes converted to apartments or other small apartment buildings ( 5.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garfield. Owner-occupied housing accounts for 78.00% of Garfield's homes, and 55.70% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Garfield 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 Garfield built between 2000 and later ( 29.96%). A lesser amount of the housing stock also hails from before 1939 ( 11.39%). There's also some housing in Garfield built between 1940-1969 ( 9.28%).
Vacant housing appears to be an issue in Garfield. Fully 15.61% of the housing stock is classified as vacant. Left unchecked, vacant Garfield homes and apartments can be a drag on the real estate market, holding Garfield 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.
In the last 10 years, Garfield has experienced some of the highest home appreciation rates of any community in the nation. Garfield real estate appreciated 159.87% over the last ten years, which is an average annual home appreciation rate of 10.02%, putting Garfield in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Garfield definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Garfield appreciation rates have trailed the rest of the nation. In the last twelve months, Garfield's appreciation rate has been 5.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Garfield were at 0.74%, which equates to an annual appreciation rate of 2.99%.
Relative to Arkansas, our data show that Garfield's latest annual appreciation rate is lower than 80% of the other cities and towns in Arkansas.
$256,616
for Arkansas
for nation
200
$1,195 / per month