Morrilton, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Morrilton, AR Real Estate Data


Morrilton Housing Market Information

With a population of 6,738, 2,616 total housing units (homes and apartments), and a median house value of $93,992, the cost of homes in Morrilton is among some of the lowest in the nation. Compared to Arkansas, however, Morrilton real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Morrilton, accounting for 71.75% of the city's housing units. Other types of housing that are prevalent in Morrilton include duplexes, homes converted to apartments or other small apartment buildings ( 18.91%), large apartment complexes or high rise apartments ( 5.28%), and a few mobile homes or trailers ( 2.63%).

The most prevalent building size and type in Morrilton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.66% owning and 44.34% renting.

There is a lot of housing in Morrilton 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 Morrilton built between 1940-1969 ( 32.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.76%). There's also some housing in Morrilton built before 1939 ( 11.20%).

Vacant housing appears to be an issue in Morrilton. Fully 13.06% of the housing stock is classified as vacant. Left unchecked, vacant Morrilton homes and apartments can be a drag on the real estate market, holding Morrilton 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.

Morrilton Home Appreciation Rates

Real estate appreciation rates in Morrilton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.13% during the period.

NeighborhoodScout's data show that during the latest twelve months, Morrilton's appreciation rate, at 4.53%, has been at or slightly above the national average. In the latest quarter, Morrilton's appreciation rate has been 1.56%, which annualizes to a rate of 6.38%.

Relative to Arkansas, our data show that Morrilton's latest annual appreciation rate is higher than 80% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$93,992

Morrilton, AR HOME PRICES

Value Range
> $1,077,000 0.4
$808,001 - $1,077,000 0.4
$539,001 - $808,000 0.0
$431,001 - $539,000 0.0
$323,001 - $431,000 1.2
$215,001 - $323,000 8.0
$108,001 - $215,000 27.5
$54,001 - $108,000 45.7
$0 - $54,000 16.8

Average for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
82.8424196287404 46.1267605633803

Number Of Homes And Apartments:
2,616

Rent & Ownership

 

Average Market Rent:
$848 / per month

Homeownership Rate

Homeownership
Owners 55.66
Renters 44.34
Vacant 13.06

Housing Market Details

 

Age of Homes

AGE OF Morrilton HOMES
2000 or Newer 13.8
1970 - 1999 42.6
1940 - 1969 32.4
1939 or Older 11.2

Types of Homes

TYPE OF Morrilton HOMES
Single-Family 71.8
Townhomes 1.4
Small Apt. Buildings 18.9
Apt. Complexes 5.3
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Morrilton HOMES
No Bedroom 3.22
1 Bedroom 8.41
2 Bedrooms 27.58
3 Bedrooms 52.81
4 Bedrooms 7.24
5 or more bedrooms 0.73

Morrilton 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
16.56% 0.91% 1 2
* 10 is highest

Popular Neighborhoods in Morrilton

Zip Codes in Morrilton, AR