Arkansas boasts stunning natural beauty, from the Ozark Mountains to Hot Springs National Park, making it a paradise for outdoor enthusiasts. With its charming small towns and lively city centers, Arkansas offers plenty of reasons to consider it as your new home. If you’re thinking of moving to Arkansas and have a budget in mind, you’ll be pleased to know that the median home sale price in Arkansas is $263,800.
But don’t worry if that price doesn’t fit your budget – we’ve compiled a list of 7 affordable places to live in Arkansas, all with a median home sale price under $263,800. From Little Rock to Jonesboro, let’s explore the cities on our list.
#1: Pine Bluff
Median home price: $100,000
Average sale price per square foot: $62
Average rent for a 1-bedroom apartment: $637
Median household income: $39,411
Nearest major metro: Little Rock (45 miles)
Pine Bluff takes the top spot on our list of affordable places to live in Arkansas. This charming city is home to approximately 39,100 residents and offers a median home sale price of $100,000, significantly lower than the state average. Visitors can enjoy attractions such as the Arkansas Railroad Museum and the AGFC Delta Rivers Nature Center in Pine Bluff Regional Park.
#2: Hot Springs
Median home price: $165,750
Average sale price per square foot: $132
Average rent for a 1-bedroom apartment: $870
Median household income: $46,537
Nearest major metro: Little Rock (55 miles)
Hot Springs, home to around 37,900 residents, offers affordable living in the midst of the Ouachita Mountains. Visitors can explore attractions like the West Mountain Trail, the Fordyce Bathhouse Visitor Center and Museum, and local distilleries and cafes.
#3: North Little Rock
Median home price: $185,000
Average sale price per square foot: $129
Average rent for a 1-bedroom apartment: $627
Median household income: $45,590
Nearest major metro: Little Rock (3 miles)
With a median home sale price of $185,000, North Little Rock is a great option for affordable living. This city of 64,600 residents offers proximity to the amenities of Little Rock and attractions like Burns Park and the Arkansas Inland Maritime Museum.
#4: Fort Smith
Median home price: $220,000
Average sale price per square foot: $132
Average rent for a 1-bedroom apartment: $675
Median household income: $48,033
Nearest major metro: Tulsa, OK (120 miles)
Fort Smith, with a population of 89,200, offers affordable living options and attractions like Ben Geren Regional Park, Fort Smith National Historic Site, and the Clayton House.
#5: Jonesboro
Median home price: $230,750
Average sale price per square foot: $137
Average rent for a 1-bedroom apartment: $840
Median household income: $48,901
Nearest major metro: Memphis, TN (70 miles)
Jonesboro, home to about 78,600 residents, offers affordable living with attractions like Arkansas State University campus and Craighead Forest Lake.
#6: Little Rock
Median home price: $247,150
Average sale price per square foot: $144
Average rent for a 1-bedroom apartment: $830
Little Rock, home to 202,600 residents, offers affordable living with attractions like the Little Rock Zoo, riverfront parks, and numerous museums.
#7: Benton
Median home price: $253,616
Average sale price per square foot: $142
Average rent for a 1-bedroom apartment: $730
Median household income: $66,868
Nearest major metro: Little Rock (25 miles)
Benton, with a population of 37,500, offers affordable living with green spaces like Tyndall Park and a charming downtown area.
Methodology: All cities must have over 35,000 residents per the US Census and have a median home sale price under the average median home sale price in Arkansas. Median home sale price and median sale price per square foot data from the Redfin Data Center as of July 2024. Average rental data from Rent.com as of July 2023. Population and median household income data sourced from the United States Census Bureau.