North Little Rock, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Little Rock, 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

North Little Rock Housing Market Information

With a population of 66,504, 25,538 total housing units (homes and apartments), and a median house value of $100,485, house prices in North Little Rock are solidly below the national average.

Single-family detached homes are the single most common housing type in North Little Rock, accounting for 66.41% of the city's housing units. Other types of housing that are prevalent in North Little Rock include large apartment complexes or high rise apartments ( 22.15%), duplexes, homes converted to apartments or other small apartment buildings ( 8.70%), and a few mobile homes or trailers ( 1.46%).

The most prevalent building size and type in North 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 52.91% owning and 47.09% 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. North Little Rock's housing was primarily built during this period, from the '40s through the '60s. A full 43.18% of the city's housing hails from this era. Other housing ages represented in North Little Rock include homes built between 1970-1999 ( 39.65%) and housing constructed between 2000 and later ( 12.58%). There's also some housing in North Little Rock built before 1939 ( 4.59%).

Vacant housing appears to be an issue in North Little Rock. Fully 14.50% of the housing stock is classified as vacant. Left unchecked, vacant North Little Rock homes and apartments can be a drag on the real estate market, holding North 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.

North Little Rock Home Appreciation Rates

Appreciation rates for homes in North Little Rock have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.12%, which ranks in the top 50% nationwide. This equates to an annual average North Little Rock house appreciation rate of 0.11%.

Over the last year, North Little Rock appreciation rates have trailed the rest of the nation. In the last twelve months, North Little Rock's appreciation rate has been -0.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Little Rock were at -1.17%, which equates to an annual appreciation rate of -4.59%.

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

Relative to Arkansas, our data show that North Little Rock's latest annual appreciation rate is lower than 90% 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 North Little Rock differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North 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 North Little Rock real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$100,485

North Little Rock, AR HOME PRICES

Value Range
> $1,010,000 0.2
$758,001 - $1,010,000 0.0
$505,001 - $758,000 0.9
$404,001 - $505,000 0.9
$303,001 - $404,000 3.4
$202,001 - $303,000 11.2
$101,001 - $202,000 36.8
$51,001 - $101,000 35.3
$0 - $51,000 11.3

Average for AR
Low for Nation

Value Relative to Nation Value Relative to State
77.2764561115669 42.9577464788732

Number Of Homes And Apartments:
25,538

North Little Rock 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
33.27% 1.68% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$972 / per month

Homeownership Rate

Homeownership
Owners 52.91
Renters 47.09
Vacant 14.50

Housing Market Details

 

Age of Homes

AGE OF North Little Rock HOMES
2000 or Newer 12.6
1970 - 1999 39.6
1940 - 1969 43.2
1939 or Older 4.6

Types of Homes

TYPE OF North Little Rock HOMES
Single-Family 66.4
Townhomes 1.3
Small Apt. Buildings 8.7
Apt. Complexes 22.2
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF North Little Rock HOMES
No Bedroom 1.84
1 Bedroom 11.87
2 Bedrooms 30.78
3 Bedrooms 44.38
4 Bedrooms 10.03
5 or more bedrooms 1.09