Little Rock real estate market overview
- Average Monthly Rent: $988
- Home Price/Value Percentage Change: 6.20%
- Median Home Value: $191,414
- Best Time To Sell a Home: June
- Affordability Index: Moderate
- Days To Sell a House: 35
- Job Market: Weak
- Public School Ranking: 32
Location and weather
Little Rock is the capital of Arkansas and is located in Pulaski County. Its name derived from a little area of rock formation near the Arkansas River, which was once a well-known area used for river-crossing. Little Rock accommodates to the many different tastes and preferences of its residents and visitors.
It's a hot spot for tours, walking or biking trails, state parks, sight-seeing, museums, and breweries. Some of its must-see attractions include the Arkansas State Capitol, the Big Dam Bridge, the Museum of Discovery, Riverfront Park and the Rock Town Distillery. Little Rock has a suburban feel, which can be associated with the many coffee shops and restaurants it has. It also has little traffic, despite being a larger city.
Little Rock is known to be partly cloudy year round, with humid summers and chilly winters. During the summer, temperatures reach highs in the 90's and lows in the 60's. During winter months, high temperatures are in the 60's and lows drop down to the mid-30's.
Population, job market and cost of living
The population in Little Rock is 205,312, and it had a growth rate of 0.44%.
Job growth on the other hand, has decreased by -4.54% over the last year. In the next ten years, it's predicted to have increased by 32.22%. Some of the major industries here are healthcare, banking and finance, technology, aerospace, government, education, advanced manufacturing and agriculture. Several big companies to work for include Dillard's, Windstream, University of Arkansas for Medical Sciences, Welspun Group, and University of Arkansas System.
The cost of living here is lower than the US average, and residents spend less on health care, food, and utilities, compared to the average American. The city of Little Rock is diverse, scenic, and affordable, which is why it's known to be a desirable place to live. If you enjoy a city that has an active out-door culture or you're simply looking to raise a family, Little Rock might just be the place for you.
Little Rock real estate market details
- Pleasant Valley
- Rock Creek
- Parkway Place
There has been a 6.2% increase in median home value over the last year. As of 2023, the median home value is $191,414.
The best time to sell a home for the highest valued sale is during June. For the quickest sale, homeowners should sell in August.
The affordability index in Little Rock is 81. This number indicates moderate affordability in this city.
The top ranked public schools are Baker Interdistrict Elementary School, Forest Park Elementary School, Jefferson Elementary School, Chenal Elementary School, Don Roberts Elementary School. This information is based on data measuring academic performance and equity.