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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