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
With a population of 6,738, 2,522 total housing units (homes and apartments), and a median house value of $104,604, house prices in Morrilton are solidly below the national average.
Single-family detached homes are the single most common housing type in Morrilton, accounting for 72.80% 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 ( 16.51%), large apartment complexes or high rise apartments ( 6.47%), and a few mobile homes or trailers ( 2.98%).
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 54.37% owning and 45.63% 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 ( 31.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.24%). There's also some housing in Morrilton built before 1939 ( 12.13%).
Vacant housing appears to be an issue in Morrilton. Fully 13.60% 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.
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 -0.27% during the period.
Over the last year, Morrilton appreciation rates have trailed the rest of the nation. In the last twelve months, Morrilton's appreciation rate has been 0.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morrilton were at -1.14%, which equates to an annual appreciation rate of -4.49%.
Notably, Morrilton's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arkansas, our data show that Morrilton's latest annual appreciation rate is lower than 80% of the other cities and towns in Arkansas.
|$777,001 - $1,036,000||1.3|
|$518,001 - $777,000||0.2|
|$414,001 - $518,000||0.0|
|$311,001 - $414,000||0.5|
|$207,001 - $311,000||7.5|
|$104,001 - $207,000||33.5|
|$52,001 - $104,000||40.5|
|$0 - $52,000||16.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Morrilton HOMES|
|2000 or Newer||15.2|
|1970 - 1999||41.0|
|1940 - 1969||31.6|
|1939 or Older||12.1|
|TYPE OF Morrilton HOMES|
|Small Apt. Buildings||16.5|
|SIZE OF Morrilton HOMES|
|5 or more bedrooms||0.51|