Little Rock, AR Real Estate Market

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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Little Rock, AR Housing Market Trends

With 197,312 people, 81,987 houses or apartments, and a median cost of homes of $169,259, house prices in Little Rock are solidly below the national average.

Single-family detached homes are the single most common housing type in Little Rock, accounting for 62.60% of the city's housing units. Other types of housing that are prevalent in Little Rock include large apartment complexes or high rise apartments ( 27.64%), duplexes, homes converted to apartments or other small apartment buildings ( 6.59%), and a few mobile homes or trailers ( 1.60%).

The most prevalent building size and type in Little Rock are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.33% owning and 45.67% renting.

There is a lot of housing in Little Rock 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 Little Rock built between 1940-1969 ( 30.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.38%). There's also some housing in Little Rock built before 1939 ( 7.10%).

Vacant housing appears to be an issue in Little Rock. Fully 14.90% of the housing stock is classified as vacant. Left unchecked, vacant Little Rock homes and apartments can be a drag on the real estate market, holding Little Rock 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.

Little Rock Home Appreciation Rates

Little Rock's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Little Rock during the period has been just 2.04%, which is lower than 70% of US communities.

Over the last year, Little Rock appreciation rates have trailed the rest of the nation. In the last twelve months, Little Rock's appreciation rate has been 5.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Little Rock were at 1.74%, which equates to an annual appreciation rate of 7.13%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Little Rock differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Little Rock - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Little Rock real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$169,259

Little Rock, AR HOME PRICES

> $1,151,000
1.3%
1.3%
$863,001 - $1,151,000
1.6%
1.6%
$576,001 - $863,000
3.8%
3.8%
$461,001 - $576,000
3.6%
3.6%
$345,001 - $461,000
8.4%
8.4%
$230,001 - $345,000
14.5%
14.5%
$115,001 - $230,000
34.7%
34.7%
$57,001 - $115,000
24.2%
24.2%
$0 - $57,000
7.8%
7.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for AR

Value Relative To Nation

Number Of Homes And Apartments:
81,987

Little Rock Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
65.00% 2.38%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,081 / per month

Homeownership Rate

Owners
54.3%
54.3%
Renters
45.7%
45.7%
Vacant
14.9%
14.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.4%
17.4%
1970 - 1999
45.1%
45.1%
1940 - 1969
30.4%
30.4%
1939 or Older
7.1%
7.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.6%
62.6%
Townhomes
1.5%
1.5%
Small Apt. Buildings
6.6%
6.6%
Apt. Complexes
27.6%
27.6%
Mobile Homes
1.6%
1.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.6%
3.6%
1 Bedroom
13.2%
13.2%
2 Bedrooms
26.9%
26.9%
3 Bedrooms
38.7%
38.7%
4 Bedrooms
14.5%
14.5%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES