Compare Arkansas mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Arkansas.
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May 28, 2023
Below we offer valuable insights on the housing market and real estate prices in Arkansas. Understand how much you need to make to buy a house in Arkansas, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Arkansas is affordable for you. We provide this helpful information to help you decide if living in Arkansas is right for you.
The median home value for Arkansas is $180,278
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Arkansas is $37,609
With this income, you could qualify for a $162,250 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Arkansas is $871
The median household income for Arkansas is $54,297
Based on this income, you can afford a home valued at approximately $260,275
The home price you can afford to buy based on household income in Arkansas is 144% of the median home value which means housing prices are super affordable. Arkansas ranks 9 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Arkansas is super affordable