5 Most Affordable Places to Live in Arkansas

Arkansas is filled with natural beauty from the Ozark Mountains to the Hot Springs National Park, perfect for outdoor enthusiasts. And with charming small towns and vibrant city centers, there are plenty of reasons to consider calling Arkansas home. If you’ve been debating moving to Arkansas or are hoping to relocate to a new city, you also probably have a budget you’d like to stay under as you look for a place to live. When it comes to buying a home in Arkansas the median home sale price is $299,900. 

Don’t worry if that price doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has collected the 5 of the most affordable places to live in Arkansas. And the best part is that they all have a median home sale price under $299,900. From Little Rock to Jonesboro, let’s jump in and see what cities are on the list.

#1: North Little Rock

Median home price: $163,500 
Average sale price per square foot: $111 
Average rent for a 1-bedroom apartment: $627 
Median household income: $45,590 
Nearest major metro: Little Rock (3 miles)
North Little Rock, AR homes for sale
North Little Rock, AR apartments for rent

With a median home sale price of $163,500, North Little Rock claims the first spot on our list of affordable places to live in Arkansas. About 64,600 people live in this city and it’s roughly 3 miles north of the nearest major metropolitan area Little Rock. If you’re considering moving to this area make sure to spend the day outside at Burns Park or Emerald Park, explore the Park Hill Historic District and stop by The Old Mill. You can also stroll along the riverfront or visit the Arkansas Inland Maritime Museum.

#2: Fort Smith

Median home price: $170,250 
Average sale price per square foot: $118 
Average rent for a 1-bedroom apartment: $675 
Median household income: $48,033 
Nearest major metro: Tulsa, OK (120 miles)
Fort Smith, AR homes for sale
Fort Smith, AR apartments for rent

The second spot on our list of affordable cities to live in Arkansas is Fort Smith. When living in this city of 89,200 people, you can visit parks like Ben Geren Regional Park or Fort Smith Park, check out historic sites and museums like Fort Smith National Historic Site, Fort Smith Museum of History, and the Clayton House, or stroll along the Ronnie Udouj Walking Trail.

#3: Jonesboro

Median home price: $224,950 
Average sale price per square foot: $130 
Average rent for a 1-bedroom apartment: $840 
Median household income: $48,901 
Nearest major metro: Memphis, TN (70 miles)
Jonesboro, AR homes for sale
Jonesboro, AR apartments for rent

Third is Jonesboro where about 78,600 residents currently live. The median home sale price is $224,950 which is about $70K less than the median home sale price in Arkansas. If you find yourself moving to the third most affordable place, make sure to explore the Arkansas State University campus, check out downtown Jonesboro, and spend the day at Craighead Forest Lake where you can camp, hike the trails, or fish. 

#4: Conway

Median home price: $250,750 
Average sale price per square foot: $146 
Average rent for a 1-bedroom apartment: $730 
Median household income: $48,033 
Nearest major metro: Little Rock (35 miles)
Conway, AR homes for sale
Conway, AR apartments for rent

Slightly more expensive than Jonesboro is the city of Conway. About 64,200 people live in Conway, where there are plenty of unique activities to do. Be sure to check out the charming downtown, golf at one of the courses, or hike the Tucker Trail.

#5: Little Rock

Median home price: $261,250 
Average sale price per square foot: $141 
Average rent for a 1-bedroom apartment: $830 
Median household income: $48,033 
Little Rock, AR homes for sale
Little Rock, AR apartments for rent

Another great area to add to your list is Little Rock. Home to 202,600 residents, this affordable town can be a great option to add to your list. In Little Rock, you can visit the Little Rock Zoo, check out riverfront parks like Murray Park or Rebsamen Park, and stop by the Arkansas State Capitol building. There are countless museums in Little Rock like the Historic Arkansas Museum, Arkansas Museum of Fine Arts, William J. Clinton Library and Museum, and the Museum of Discovery.

Methodology: All cities must have over 50,000 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 from the Redfin Data Center during July 2023. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.

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