Arkansas stands out as an affordable state for first-time homebuyers, with an average starter home price of $183,850 requiring a household income of $47,184. This makes it one of the top five states for affordability. However, in the past five years, home prices have surged by 57%, leading to a 121% increase in monthly payments. While cities like Jonesboro and Fort Smith offer low prices, others like Fayetteville and Bentonville have become more expensive due to demand, suggesting that even affordable markets are experiencing growth in home costs.
In Arkansas, a household income of approximately $47,184 can afford a starter home, making the state one of the most accessible for first-time buyers.
Despite its affordability, Arkansas has experienced a significant surge in home prices, indicating that even low-cost states face rising housing costs.
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