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The median home value in Arkansas is $170,000. Arkansas home prices have grown faster than historical norms since 2020, up ~25%, driven by out-of-state migration to markets like Bentonville and Fayetteville.
The conforming loan limit is $726,200. All Arkansas counties are at the standard conforming limit. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $170,000 with a 20% down payment ($34,000), you'd borrow $136,000. At 7% for 30 years, principal and interest runs approximately $905/month. Add property taxes (~$88/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Arkansas's effective property tax rate of 0.62% (avg. bill: $743/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Arkansas should budget for closing costs of approximately $2,200. Arkansas has minimal state-level transfer taxes, keeping closing costs modest.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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