The median home price in Arkansas is $238,900, which has increased by 5.4% since the last year. The Arkansas housing market has witnessed a 9.79% year-over-year decline in the number of homes listed. With a 4-month supply left, you will get your choice of house with the seller being more willing to negotiate.
As per our research, home prices are relatively higher in the eastern areas near Jonesboro, AR. On the other hand, as you move towards the western areas of the Natural State, you can find cheaper housing options.
4 Reasons to live in Arkansas 🏡
- Cheaper Houses: The median home sale price in Arkansas is ~238K. But you can get houses between $38K and $122K in cities like Forrest City, Camden, and El Dorado.
- Tax Benefits: Arkansas residents can benefit from a one-time $7,500 state tax deduction for rolling an out-of-state 529 plan into an Arkansas Brighter Future 529 Plan.
- Affordable: Grocery in cities that are listed below is up to 10% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than national average. You can save up to $550 per month in rent.
Cheapest Places to Live in Arkansas in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Helena-West Helena | $31,118 | $38,908 | 8,872 | 5.7% | 33.9% |
| Forrest City | $36,368 | $61,634 | 12,676 | 7.3% | 35.3% |
| Blytheville | $45,746 | $69,811 | 12,706 | 4.2% | 23.4% |
| Hope | $43,018 | $75,760 | 8,624 | 4.0% | 28.6% |
| Camden | $48,302 | $93,885 | 10,298 | 3.6% | 21.2% |
| West Memphis | $40,904 | $104,676 | 23,795 | 4.1% | 24.7% |
| El Dorado | $46,869 | $122,079 | 17,063 | 6.3% | 22.2% |
7 Cheapest Places to Live in AR
The annual population growth of 4.2% since 2010 is reflective of people’s intention to move to Arkansas. If you’re considering shifting to the Natural State, here are some cities that offer affordable living options:
1. Helena-West Helena
| 🟢 Cost of Living Compared to National Average | 34.1%⬇️ |
| 🏡 Median Home Price | $38,908 |
| 💲 Median Rent | $1,450 |
| 🌅 Known For | Antebellum And Victorian Homes |
Helena-West Helena is an affordable place to live in Arkansas. Its median house rent ranges from $850 – $2,100. It also offers affordable transportation which is 32.1% lower than the national average.
Helena-West Helena stands out as a budget-friendly city. The city itself boasts a multitude of cultural attractions, offering a diverse range of top-rated places to explore. You can discover the history, music, and art at the Delta Cultural Center, and explore scenic trails and wildlife in Arkansas’s lower delta region.
» Homes for Sale in Helena-West Helena, AR: Find your dream home in this city.
2. Forrest City
| 🟢 Cost of Living Compared to National Average | 33.5%⬇️ |
| 🏡 Median Home Price | $61,634 |
| 💲 Median Rent | $750 |
| 🏞️ Known For | Village Creek State Park |
Forrest City is one of the most budget-friendly rental destinations in Arkansas with an average home rent ranging from $575 – $1,300. It also offers affordable grocery which is 9.7% lower than the national average.
Forrest City is notable for its community-oriented facilities. Additionally, there are recreational activities available, such as fishing trips at nearby lakes like Arkabutla Lake. This provides the residents with leisure options.
» Homes for Sale in Forrest City, AR: Browse thousands of property listings in Forrest City.
3. Blytheville
| 🟢 Cost of Living Compared to National Average | 32.6%⬇️ |
| 🏡 Median Home Price | $69,811 |
| 💲 Median Rent | $750 |
| 🏖️ Known For | Arkansas Aeroplex |
With rental costs below the national average, Blytheville stands as one of the most affordable cities to live in Arkansas. The house rent price is between $750 – $1,700.
Blytheville is recognized as a great place to live. Recognized as a historic city and a cotton hub, Blytheville played a significant role in the region’s cotton industry.
» Homes for Sale in Blytheville, AR: View all the properties for sale in this city.
4. Hope
| 🟢 Cost of Living Compared to National Average | 23.2%⬇️ |
| 🏡 Median Home Price | $75,760 |
| 💲 Median Rent | $750 |
| 🏖️ Known For | Clinton House Museum |
Hope offers budget-friendly living with a median rent that is $1,250 lower than the national median. Moreover, the healthcare costs are 6.1% below the national average in this city.
Hope is a beautiful and peaceful city to live in. Its economic foundation relies on the processing of poultry, the production of bakery goods, and the manufacturing of steel joists.
» Homes for Sale in Hope, AR: Browse through thousands of affordable properties.
5. Camden
| 🟢 Cost of Living Compared to National Average | 30.8%⬇️ |
| 🏡 Median Home Price | $93,885 |
| 💲 Median Rent | $750 |
| 🎨 Known For | Ouachita River |
Often referred to as the ‘Queen City,’ Camden’s cost of living is 30.8% lower than the national average. The median home rent price of the city is ranges between $750 – $950.
Camden’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in the US.
» Homes for Sale in Camden, AR: Browse through thousands of properties in Camden.
6. West Memphis
| 🟢 Cost of Living Compared to National Average | 24.1%⬇️ |
| 🏡 Median Home Price | $104,676 |
| 💲 Median Rent | $710 |
| 🏫 Known For | Southland Casino Racing |
The house rent in West Memphis is between $500 – $1,400. With an average household income of $40,904, you can comfortably live in this city.
West Memphis is a compelling real estate choice for outdoor enthusiasts seeking affordable living in Arkansas. This city is known for being affordable. Houses don’t cost a lot, and the everyday expenses are low.
» Homes for Sale in West Memphis, AR: Find a home in one of the cheapest places to live in Arkansas.
7. El Dorado
| 🟢 Cost of Living Compared to National Average | 32%⬇️ |
| 🏡 Median Home Price | $122,079 |
| 💲 Median Rent | $913 |
| 🖼️ Known For | Lake Parime |
El Dorado is indeed one of the best places to live in Arkansas. The annual expenditure on food for an individual amounts to $2,975. This makes it one of the most budget-friendly options across the country.
El Dorado is recognized for its points of interest, including Hot Springs National Park. This contributes to its appeal for tourists and residents alike.
» Homes for Sale in El Dorado, AR: Get yourself a home in this vibrant town.
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Bottom Line
The cost of living in Arkansas is 8% lower than the national average. Nevertheless, it is home to some of the most expensive cities in America. However, if you want to shift to Arkansas, you can find affordable housing in cities like Helena-West Helena, Forrest City, and Blytheville.
Cities like West Memphis and El Dorado have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
Find Homes for Sale in AR Under Your Specific Budget
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Arkansas, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, Zillow and Best Places.
FAQs
What is the cheapest place to live in Arkansas?
The cheapest place to live in Arkansas is Helena-West Helena. It offers affordable transport, which is 32% lower than the national average.
» 7 Cheapest Places to Live in Arkansas: Find out the other cheapest places to live in Arkansas!
Is Arkansas the cheapest place to live in?
No, it is not. The median home value is $238,900. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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