The top rental markets in Arkansas are Little Rock, Paragould, and Fayetteville.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Arkansas Rental Trends:
Arkansas is located in the South and is home to a high number of natural resources, schools, lakes, and great rental properties. Landlords and renters will have a great variety of rental properties to choose from. Here are some highlights from the top rental markets in the Natural State.
Days on Market:
The city with the lowest days on market is Fayetteville at 11 – four under the national average which sits at 15 days; Paragould has the highest number of days on market at 15, just one above the average in the U.S.
Leads:
The top three towns for the largest amount of leads per listing are above or around the national average sitting at 38. Here they are:
- Paragould – 95 leads per listing
- Little Rock – 37 leads per listing
- Fayetteville – 29 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Paragould comes below that with the lowest average rent of $543 for a two-bedroom compared to the highest rent in Arkansas at $849 in Fayetteville.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Arkansas’s highest median sale price comes below that at $216,000 in Fayetteville with its lowest median sale price at $115,000 in Paragould.
Median Income:
Arkansas’s median income rings in at $40,530 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Arkansas’s cities between 2018 and 2019. With the largest being an increase of 38.46% in Little Rock at $900, and the largest decrease at -6.25% in Fayetteville with the current average at around $750 – under the national average for security deposits which is $1,200.
Livability Score:
All of Arkansas’s cities have a livability score of 68 or higher with the highest being Henderson at 82!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.
