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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Morrilton, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Morrilton, AR Housing Market Trends

With 7,079 people, 2,834 houses or apartments, and a median cost of homes of $163,994, 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 71.96% of the city's housing units. Other types of housing that are prevalent in Morrilton include large apartment complexes or high rise apartments ( 13.46%), duplexes, homes converted to apartments or other small apartment buildings ( 11.20%), and a few row houses and other attached homes ( 2.46%).

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 45.74% owning and 54.26% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Morrilton's housing was primarily built during this period, from the '40s through the '60s. A full 36.78% of the city's housing hails from this era. Other housing ages represented in Morrilton include homes built between 1970-1999 ( 27.69%) and housing constructed between 2000 and later ( 19.65%). There's also some housing in Morrilton built before 1939 ( 15.89%).

Morrilton Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Morrilton, where house values have increased just 47.49%, which is annualized rate of 3.96%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Morrilton's appreciation rate, at 5.42%, has been at or slightly above the national average. In the latest quarter, Morrilton's appreciation rate has been 2.22%, which annualizes to a rate of 9.19%.

Importantly, this makes Morrilton one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Arkansas, our data show that Morrilton's latest annual appreciation rate is higher than 60% of the other cities and towns in Arkansas.

Average Home Values

Median Home Value

$163,994

Morrilton, AR Home Prices
> $1,243,000
$932,001 - $1,243,000
$621,001 - $932,000
$497,001 - $621,000
$373,001 - $497,000
$249,001 - $373,000
$124,001 - $249,000
$62,001 - $124,000
$0 - $62,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.9%
0.9%
3.0%
3.0%
9.6%
9.6%
55.3%
55.3%
26.0%
26.0%
5.1%
5.1%
0% 100.0%
% of Homes
Average

for Arkansas

Low

for nation

Number of Homes And Apartments:

2,834

Morrilton Appreciation Rates

Rent & Ownership

Average Market Rent:

$995 / per month

Homeownership Rate

Owners
Renters
45.7%
45.7%
54.3%
54.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.6%
9.6%
90.4%
90.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.6%
19.6%
27.7%
27.7%
36.8%
36.8%
15.9%
15.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.0%
72.0%
2.5%
2.5%
11.2%
11.2%
13.5%
13.5%
0.9%
0.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.4%
6.4%
7.3%
7.3%
35.3%
35.3%
43.5%
43.5%
5.6%
5.6%
1.8%
1.8%
0% 100.0%
% of Homes