Estimated Monthly Payment — Median Arkansas Home
$1,317
Based on $195,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$195,000
Property Tax
0.64%
Avg. HOA
$125/mo
Median Rent
$950/mo
Free · No signup · Adjust every variable
Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Arkansas housing market
Arkansas's housing market is among the most affordable in the country, with a median home price around $195,000. Little Rock is the largest metro, with Fort Smith a close second. Arkansas has one of the lowest median home prices in the country, with affordability that lets buyers build equity quickly even on modest incomes. Arkansas's effective property tax rate of 0.64% is below the national average.
The median Arkansas home costs $195,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,007, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $1,317. First-time buyers in Arkansas can explore programs through Arkansas HFA.
Photo by Jametlene Reskp on Unsplash
Buying in Arkansas?
Explore Arkansas HFA programs, check your affordability, and make confident decisions.
Learn about Arkansas HFA programs →
FAQ
Arkansas mortgage FAQs
What's the property tax rate in Arkansas?
Arkansas's effective property tax rate averages about 0.64% — below the national average. On a $195,000 home, that's roughly $104/month or $1,248/year.
How much do I need to earn to afford a typical Arkansas home?
Using the 28/36 rule, a buyer would need roughly $49,000–$63,000 in gross annual income to comfortably afford Arkansas's $195,000 median home with 20% down at current rates.
What first-time buyer programs are available in Arkansas?
ADFA offers the Move-Up Choice program with competitive rates plus down payment assistance and the ADFA Down Payment Assistance program for qualified first-time buyers. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
Ready to run the full numbers?
Adjust every variable, explore scenarios, and plan with confidence.