Trumann, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Trumann, 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

Trumann Housing Market Information

With a population of 7,145, 2,816 total housing units (homes and apartments), and a median house value of $104,179, house prices in Trumann are solidly below the national average.

Single-family detached homes are the single most common housing type in Trumann, accounting for 70.71% of the city's housing units. Other types of housing that are prevalent in Trumann include duplexes, homes converted to apartments or other small apartment buildings ( 20.20%), large apartment complexes or high rise apartments ( 5.35%), and a few mobile homes or trailers ( 2.86%).

The most prevalent building size and type in Trumann are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.41% owning and 46.59% renting.

There is a lot of housing in Trumann 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 Trumann built between 1940-1969 ( 37.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.14%). There's also some housing in Trumann built before 1939 ( 6.41%).

Vacant housing appears to be an issue in Trumann. Fully 12.36% of the housing stock is classified as vacant. Left unchecked, vacant Trumann homes and apartments can be a drag on the real estate market, holding Trumann 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.

Trumann Home Appreciation Rates

In the last 10 years, Trumann has experienced some of the highest home appreciation rates of any community in the nation. Trumann real estate appreciated 17.41% over the last ten years, which is an average annual home appreciation rate of 1.62%, putting Trumann in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Trumann definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Trumann's appreciation rate, at 4.36%, has been at or slightly above the national average. In the latest quarter, Trumann's appreciation rate has been 0.39%, which annualizes to a rate of 1.56%.

Relative to Arkansas, our data show that Trumann's latest annual appreciation rate is higher than 70% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$104,179

Trumann, AR HOME PRICES

Value Range
> $1,091,000 0.0
$818,001 - $1,091,000 0.0
$545,001 - $818,000 0.0
$436,001 - $545,000 0.0
$327,001 - $436,000 2.3
$218,001 - $327,000 5.7
$109,001 - $218,000 27.1
$55,001 - $109,000 39.7
$0 - $55,000 25.2

High for AR
Low for Nation

Value Relative to Nation Value Relative to State
74.8681589124575 38.3802816901408

Number Of Homes And Apartments:
2,816

Trumann 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
40.83% 2.00% 6 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$690 / per month

Homeownership Rate

Homeownership
Owners 53.41
Renters 46.59
Vacant 12.36

Housing Market Details

 

Age of Homes

AGE OF Trumann HOMES
2000 or Newer 11.1
1970 - 1999 45.4
1940 - 1969 37.1
1939 or Older 6.4

Types of Homes

TYPE OF Trumann HOMES
Single-Family 70.7
Townhomes 0.9
Small Apt. Buildings 20.2
Apt. Complexes 5.4
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Trumann HOMES
No Bedroom 5.73
1 Bedroom 10.12
2 Bedrooms 27.02
3 Bedrooms 51.73
4 Bedrooms 5.42
5 or more bedrooms 0.00

Popular Neighborhoods in Trumann

Zip Codes in Trumann, AR