The 10 Most Affordable Places to Live in Arkansas

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By Michael Yessis Updated June 13, 2024
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Edited by Ashley Simon

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The 72335 zip code in Forrest City tops our ranking of the most affordable places to live in Arkansas.

We looked at 92 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.  

Top 10 most affordable places to live in Arkansas

RankCity Affordability Score Median home valueRental costs
1Forrest City 🥇100$69,497$1,304
2Camden🥈98.8$99,845$1,304
3Fort Smith 🥉98.6$122,342$792
4Pine Bluff97.8$53,123$1,304
5Little Rock97.8$125,127$1,048
6Blytheville97.6$83,451$1,304
7El Dorado97.3$126,812$1,304
8Crossett97.2$84,792$1,304
9White Hall96.9$138,137$1,304
10Jacksonville95.8$157,933$1,013
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1. Forrest City

Here's why the 72335 zip code in Forrest City is Arkansas's most affordable place to live.

🔎 Key data about Forrest City

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 100 No. 1N/A
Median home value $69,497[1]No. 2 -$159,183.65
Home affordability ratio 1.7No. 3-2.0
Home value five-year change 3.8%[2]No. 1-42.9%
Home value one-year forecast -4.7%[3]No. 1-3.8%
Rental costs $1,304[4]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $40,237[5]No. 83-$20,394
Property taxes $506[6]No. 4-$699
Energy costs $0.12 kWh[7]No. 1$0.00
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Forrest City's 72335 zip code is the cheapest place to live in Arkansas, leading the 92 markets we evaluated. 

The median home value is $69,497, making it the 2nd-cheapest housing market in the state. Forecasts project a -4.7% change in home values in the next year. Rent in the zip code averages $1,304 per month, which is the 30th cheapest amount in Arkansas.

The median property tax for homeowners in Forrest City is $506 per household, the No. 4 ranked market in Arkansas. 

Residents pay $0.12 per kWh of electricity, which ranks No. 1 among Arkansas markets.

2. Camden

The 71701 zip code is the 2nd-cheapest place to live in Arkansas.

🔎 Key data about Camden

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 98.8No. 2N/A
Median home value $99,845[8]No. 7-$128,835.74
Home affordability ratio 2.0No. 5-1.8
Home value five-year change 28.8%[9]No. 13-17.9%
Home value one-year forecast -3.2%[10]No. 3-2.3%
Rental costs $1,304[11]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $50,341[12]No. 64-$10,290
Property taxes $516[13]No. 6-$689
Energy costs $0.12 kWh[14]No. 1$0.00
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Camden's 71701 zip code has a median home value of $99,845, which is the 3rd-cheapest housing market in Arkansas. You can rent for an average of $1,304 per month. That's the 24th-cheapest price in the state.

The average household income in the zip code is $50,341, which ranks 64th-highest in the state. 

Homeowners in Camden pay a median property tax of $516 per year, making it the 6th-most affordable market in Arkansas.

Camden ranks No. 1 among Arkansas energy markets. You'll pay $0.12 per kWh of electricity.

3. Fort Smith

The 3rd-cheapest place to live in Arkansas is Fort Smith's 72901 zip code.

🔎 Key data about Fort Smith

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 98.6No. 3N/A
Median home value $122,342[15]No. 14-$106,338.99
Home affordability ratio 2.9No. 19-0.9
Home value five-year change 29.2%[16]No. 16-17.5%
Home value one-year forecast -1.3%[17]No. 49-0.4%
Rental costs $792[18]No. 1-$512
Rent affordability ratio 1.87%No. 16-0.3%
Median household income $42,361[19]No. 81-$18,270
Property taxes $625[20]No. 14-$580
Energy costs $0.12 kWh[21]No. 66$0.00
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The No. 14 cheapest housing in Arkansas is Fort Smith's 72901 zip code, with a median home value of $122,342. Rents in the market average $792 per month, making it the 1st-most affordable rental market in the state.

The median property tax for households in Fort Smith is $625, which makes it the 14th-cheapest place in Arkansas. Fort Smith ranks No. 66 among Arkansas markets by energy costs. Residents pay $0.12 per kWh of electricity.

4. Pine Bluff

The 71601 zip code in Pine Bluff comes in at No. 4 on our list of the cheapest places to live in Arkansas.

🔎 Key data about Pine Bluff

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 97.8No. 4N/A
Median home value $53,123[22]No. 1-$175,557.34
Home affordability ratio 1.5No. 1-2.2
Home value five-year change 38.3%[23]No. 48-8.4%
Home value one-year forecast -2.5%[24]No. 7-1.6%
Rental costs $1,304[25]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $34,870[26]No. 91-$25,761
Property taxes $395[27]No. 1-$810
Energy costs $0.12 kWh[28]No. 1$0.00
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The No. 1 cheapest housing market in Arkansas is Pine Bluff's 71601 zip code, where the median home value is $53,123. Renters here pay an average of $1,304 per month. 

When it comes to energy costs, Pine Bluff ranks 1st among Arkansas markets. Residents pay $0.12 per kWh of electricity.

The median property tax for households in the zip code is $395, which makes it the 1st-cheapest market in Arkansas.

5. Little Rock

The 72206 zip code in Little Rock ranks No. 5 among Arkansas's most affordable places to live.

🔎 Key data about Little Rock

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 97.8No. 5N/A
Median home value $125,127[29]No. 15-$103,553.57
Home affordability ratio 2.6No. 11-1.2
Home value five-year change 22.8%[30]No. 7-23.9%
Home value one-year forecast -2.4%[31]No. 9-1.5%
Rental costs $1,048[32]No. 10-$256
Rent affordability ratio 2.16%No. 750.0%
Median household income $48,588[33]No. 69-$12,043
Property taxes $677[34]No. 20-$528
Energy costs $0.12 kWh[35]No. 1$0.00
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Little Rock's 72206 zip code has a median home value of $125,127, the 15th-cheapest market in the state. Forecasts project a -2.4% change in home values in the next year. 

The median property tax per household in Little Rock is $677. It's the 20th-cheapest market by tax rate in Arkansas.

6. Blytheville

The No. 6 most affordable place to live in Arkansas is the 72315 zip code.

🔎 Key data about Blytheville

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 97.6No. 6N/A
Median home value $83,451[36]No. 5-$145,230.01
Home affordability ratio 1.8No. 4-2.0
Home value five-year change 14.2%[37]No. 4-32.5%
Home value one-year forecast -1.4%[38]No. 48-0.5%
Rental costs $1,304[39]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $47,305[40]No. 73-$13,326
Property taxes $710[41]No. 25-$495
Energy costs $0.12 kWh[42]No. 1$0.00
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The back half of our top 10 kicks off with Blytheville's 72315 zip code, which has the 5th-cheapest home values in Arkansas. The median home value is $83,451. Rents average $1,304 per month, making it the 24th-most affordable rental market in the state.

Residents pay $0.12 per kWh of electricity. It's the 1st-cheapest energy market.

7. El Dorado

El Dorado's 71730 zip code is the 7th-cheapest place to live in Arkansas.

🔎 Key data about El Dorado

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 97.3No. 7N/A
Median home value $126,812[43]No. 16-$101,868.48
Home affordability ratio 2.5No. 10-1.3
Home value five-year change 20.0%[44]No. 5-26.7%
Home value one-year forecast -2.8%[45]No. 4-1.9%
Rental costs $1,304[46]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $50,745[47]No. 63-$9,886
Property taxes $694[48]No. 23-$511
Energy costs $0.12 kWh[49]No. 1$0.00
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You'll find the 16th-cheapest home values in Arkansas in El Dorado's 71730 zip code. The median value: $126,812. Renters in El Dorado pay an average of $1,304 per month.

Homeowners in El Dorado pay a median property tax of $694 per year, which is Arkansas's 23rd-most affordable market.

The average household income is $50,745, which ranks 63rd-highest in the state.

8. Crossett

The 8th-cheapest place to live in Arkansas is Crossett's 71635 zip code.

🔎 Key data about Crossett

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 97.2No. 8N/A
Median home value $84,792[50]No. 6-$143,888.33
Home affordability ratio 1.7No. 2-2.1
Home value five-year change 9.4%[51]No. 2-37.3%
Home value one-year forecast -0.9%[52]No. 600.0%
Rental costs $1,304[53]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $49,936[54]No. 65-$10,695
Property taxes $622[55]No. 12-$583
Energy costs $0.12 kWh[56]No. 1$0.00
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The 6th-cheapest housing market in Arkansas is Crossett's 71635 zip code, with a median home value of $84,792. Renters pay an average of $1,304 per month, the No. 24 rental market in the state.

The median property tax for households in Crossett is $622, which makes it the 12th-cheapest place in Arkansas. The average household income of $49,936 ranks 65th.

9. White Hall

White Hall's 71602 zip code sneaks into the top ten of Arkansas's most affordable places to live.

🔎 Key data about White Hall

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 96.9No. 9N/A
Median home value $138,137[57]No. 22-$90,543.04
Home affordability ratio 2.2No. 8-1.5
Home value five-year change 33.6%[58]No. 26-13.2%
Home value one-year forecast -1.9%[59]No. 20-1.0%
Rental costs $1,304[60]No. 24$0
Rent affordability ratio 2.15%No. 300.0%
Median household income $61,863[61]No. 37$1,232
Property taxes $743[62]No. 27-$462
Energy costs $0.12 kWh[63]No. 1$0.00
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The 22nd-cheapest housing market in Arkansas is White Hall's 71602 zip code, where the median home value is $138,137. Renters pay an average of $1,304 per month. It's the state's 24th-cheapest rental market.

The median property tax for households within the zip code is $743, which makes it the 27th-cheapest property tax rate in Arkansas. 

10. Jacksonville

The final spot on our list of the most affordable places to live in Arkansas goes to the 72076 zip code in Jacksonville.

🔎 Key data about Jacksonville

Data pointValueRank (out of 92 markets)Difference from median or average
Affordability Score 95.8No. 10N/A
Median home value $157,933[64]No. 27-$70,747.30
Home affordability ratio 3.1No. 29-0.7
Home value five-year change 37.5%[65]No. 42-9.2%
Home value one-year forecast -2.1%[66]No. 14-1.2%
Rental costs $1,013[67]No. 8-$291
Rent affordability ratio 1.96%No. 18-0.2%
Median household income $51,560[68]No. 61-$9,071
Property taxes $1,027[69]No. 48-$178
Energy costs $0.12 kWh[70]No. 1$0.00
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The 27th-most affordable market in Arkansas is Jacksonville's 72076 zip code. The median home value is $157,933. Rent in the market costs $1,013 per month on average, making it the 8th-most affordable rental market in Arkansas.

The median property tax for households in Jacksonville is $1,027, which is the 48th-cheapest property tax rate in the state.

Jacksonville ranks No. 1 among Arkansas markets by energy costs, with households paying $0.12 per kWh of electricity.

How we ranked the most affordable places in Arkansas

We evaluated 92 zip codes in Arkansas with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings. 

✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code.

Often the zip code we identify will represent an entire city or portion of a city. 

Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location. 

If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.

Methodology: What is an Affordability Score?

Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.

  • Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Arkansas, the higher our score on this component. We assign a weight of 23.8% to median home value.
  • Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
  • Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
  • Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
  • Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs. 
  • Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
  • Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
  • Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Arkansas average, the higher our score on this component. We assign a weight of 7.1% to property taxes. 
  • Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Arkansas average, the higher our score on this component. We assign a weight of 7.1% to energy costs.  

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