Star City, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Star City, AR Real Estate Data


Star City Housing Market Information

With a population of 2,180, 891 total housing units (homes and apartments), and a median house value of $91,016, the cost of homes in Star City is among some of the lowest in the nation. Compared to Arkansas, however, Star City real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Star City, accounting for 67.25% of the city's housing units. Other types of housing that are prevalent in Star City include duplexes, homes converted to apartments or other small apartment buildings ( 15.20%), mobile homes or trailers ( 13.74%), and a few large apartment complexes or high rise apartments ( 3.41%).

The most prevalent building size and type in Star City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.04% owning and 44.96% renting.

There is a lot of housing in Star City 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 Star City built between 1940-1969 ( 30.70%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.80%). There's also some housing in Star City built before 1939 ( 6.14%).

Vacant housing appears to be an issue in Star City. Fully 13.16% of the housing stock is classified as vacant. Left unchecked, vacant Star City homes and apartments can be a drag on the real estate market, holding Star City 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.

Star City Home Appreciation Rates

Appreciation rates for homes in Star City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.97%, which ranks in the top 30% nationwide. This equates to an annual average Star City house appreciation rate of 1.58%.

Over the last year, Star City appreciation rates have trailed the rest of the nation. In the last twelve months, Star City's appreciation rate has been -0.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Star City were at 5.05%, which equates to an annual appreciation rate of 21.79%.

Importantly, this makes Star City 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 Star City's latest annual appreciation rate is lower than 90% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$91,016

Star City, AR HOME PRICES

Value Range
> $1,017,000 0.1
$763,001 - $1,017,000 1.2
$509,001 - $763,000 1.8
$407,001 - $509,000 0.0
$306,001 - $407,000 2.4
$204,001 - $306,000 8.8
$102,001 - $204,000 27.6
$51,001 - $102,000 34.6
$0 - $51,000 23.4

Average for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
84.7719154418223 49.6478873239437

Number Of Homes And Apartments:
891

Rent & Ownership

 

Average Market Rent:
$601 / per month

Homeownership Rate

Homeownership
Owners 55.04
Renters 44.96
Vacant 13.16

Housing Market Details

 

Age of Homes

AGE OF Star City HOMES
2000 or Newer 7.8
1970 - 1999 55.4
1940 - 1969 30.7
1939 or Older 6.1

Types of Homes

TYPE OF Star City HOMES
Single-Family 67.3
Townhomes 0.4
Small Apt. Buildings 15.2
Apt. Complexes 3.4
Mobile Homes 13.7
Other 0.0

Home Size

SIZE OF Star City HOMES
No Bedroom 4.48
1 Bedroom 8.58
2 Bedrooms 17.74
3 Bedrooms 53.12
4 Bedrooms 11.89
5 or more bedrooms 4.19

Star City 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
49.48% 2.39% 8 6
* 10 is highest

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Zip Codes in Star City, AR