Cost of Housing

May 7, 2021

Real Estate

Cost of Housing

NWA Daily

NWA residents are continuing to fight an uphill battle against rising housing prices as the population of the region continues to skyrocket.

  • Where we've been: Between 2011 and 2016 alone, median rents increased 1-13% in three of the major cities, and the median price of homes on the market rose 15-43%. In 2019, the median rents were between $777 and $955 across the four major cities in NWA, according to the U.S. Census Bureau. The median value of a house was $192,275.
  • Where we're going: By 2040, the total population across the four major NWA cities is expected to surge by 80,000 households.
  • Piling it on: The entire nation is facing a housing inventory shortage, and while this was already somewhat in play, it was catalyzed be the pandemic last year. Throwing this into the mix in a market already experiencing population tailwinds like NWA creates the dramatic supply squeeze we're seeing.

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