Mena, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lowest

Highest Appreciating Mena Neighborhoods Since 2000




Mena, AR Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mena Housing Market Information

With 5,653 people, 2,480 houses or apartments, and a median cost of homes of $80,173, house prices in Mena are solidly below the national average.

Single-family detached homes are the single most common housing type in Mena, accounting for 77.54% of the city's housing units. Other types of housing that are prevalent in Mena include large apartment complexes or high rise apartments ( 8.30%), mobile homes or trailers ( 8.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mena. Owner-occupied housing accounts for 70.63% of Mena's homes, and 57.08% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mena 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 Mena built between 1940-1969 ( 28.05%). A lesser amount of the housing stock also hails from before 1939 ( 12.05%). There's also some housing in Mena built between 2000 and later ( 11.55%).

Vacant housing appears to be an issue in Mena. Fully 16.97% of the housing stock is classified as vacant. Left unchecked, vacant Mena homes and apartments can be a drag on the real estate market, holding Mena 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.

Mena Home Appreciation Rates

Real estate appreciation rates in Mena's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.68% during the period.

Over the last year, Mena appreciation rates have trailed the rest of the nation. In the last twelve months, Mena's appreciation rate has been -1.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mena were at -1.14%, which equates to an annual appreciation rate of -4.49%.

Notably, Mena's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arkansas, our data show that Mena's latest annual appreciation rate is lower than 90% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$80,173

Mena, AR HOME PRICES

Value Range
> $943,000 0.0
$707,001 - $943,000 0.0
$471,001 - $707,000 0.0
$377,001 - $471,000 1.3
$283,001 - $377,000 2.1
$189,001 - $283,000 6.2
$94,001 - $189,000 34.5
$47,001 - $94,000 36.2
$0 - $47,000 19.7

Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
90.3902496191258 65.4929577464789

Number Of Homes And Apartments:
2,480

Mena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
13.41% 0.73% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$696 / per month

Homeownership Rate

Homeownership
Owners 70.63
Renters 29.37
Vacant 16.97

Housing Market Details

 

Age of Homes

AGE OF Mena HOMES
2000 or Newer 11.6
1970 - 1999 48.3
1940 - 1969 28.1
1939 or Older 12.1

Types of Homes

TYPE OF Mena HOMES
Single-Family 77.5
Townhomes 1.7
Small Apt. Buildings 4.3
Apt. Complexes 8.3
Mobile Homes 8.1
Other 0.0

Home Size

SIZE OF Mena HOMES
No Bedroom 4.82
1 Bedroom 5.32
2 Bedrooms 31.27
3 Bedrooms 46.43
4 Bedrooms 10.65
5 or more bedrooms 1.51

Popular Neighborhoods in Mena

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Zip Codes in Mena, AR