Arkansas Residential Rent and Rental Statistics
The median monthly gross residential rent in Arkansas was $742 in 2019 according to the Census ACS survey.1 Average gross rent was $716 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Arkansas median and average rent data will be released in September of 2021.
Data is also available below for Arkansas rental vacancy rates, Arkansas rent as a percent of median income and the fraction of renters in Arkansas.
Real Gross Rent in Arkansas (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Arkansas Median Gross Rent | $742 | -0.27% | +1.09% |
Arkansas Real Gross Rent Trends
Median gross rent for Arkansas peaked in real terms in 2018 at $744 and is now $2 (0.27%) lower. Average gross rent for Arkansas peaked in real terms in 2018 at $717 and is now $1 (0.14%) lower.
Real Gross Rent in Arkansas: Median, Average, US Median
Real Gross Rent History for Arkansas
| Date | US Median | Arkansas Median | Arkansas Average |
|---|---|---|---|
| 2019 | $1,097 | $742 | $716 |
| 2018 | $1,077 | $744 | $717 |
| 2017 | $1,043 | $733 | $707 |
| 2016 | $1,027 | $734 | $697 |
| 2015 | $1,017 | $737 | $708 |
| 2014 | $986 | $721 | $678 |
| 2013 | $953 | $694 | $664 |
| 2012 | $940 | $681 | $645 |
| 2011 | $941 | $690 | $655 |
| 2010 | $955 | $713 | $674 |
| 2009 | $960 | $691 | $656 |
| 2007 | $927 | $673 | $627 |
| 2005 | $910 | $686 | $628 |
Arkansas Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Arkansas was 7.37% according to Census ACS data.
Rental Vacancy Rate in Arkansas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Arkansas | 7.37% | -0.98% | -0.69% |
Trends in Arkansas Rental Vacancy Rate
The rental vacancy rate in Arkansas peaked in 2009 at 10.48%. Since then it has fallen by 3.11% to 7.37%. Data records for this series originated in 2005.
Rental Vacancy Rate: Arkansas, US
Historical Rental Vacancy Rate data for Arkansas
| Date | US | Arkansas |
|---|---|---|
| 2019 | 5.97% | 7.37% |
| 2018 | 6.15% | 8.35% |
| 2017 | 6.18% | 8.22% |
| 2016 | 5.89% | 8.06% |
| 2015 | 5.85% | 8.50% |
| 2014 | 6.32% | 9.60% |
| 2013 | 6.49% | 9.66% |
| 2012 | 6.77% | 9.13% |
| 2011 | 7.40% | 10.00% |
| 2010 | 8.17% | 10.46% |
| 2009 | 8.43% | 10.48% |
| 2007 | 7.87% | 8.73% |
| 2005 | 7.74% | 9.52% |
Arkansas Rent as a Fraction of Income
Using median household income data for Arkansas, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Arkansas, median monthly gross rent as a fraction of median household income was 18.19% in 2019 according to the ACS.
Arkansas Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Arkansas | 18.19% | -0.45% | -0.78% |
Trends in Arkansas Rent as a Fraction of Income
The fraction of median Arkansas household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 19.99%. Since then it has fallen by 1.80% to 18.19%.
Fraction of Income towards Rent: Arkansas, US
Historical Data for Annual Rent as a Fraction of Income in Arkansas
| Date | US | Arkansas |
|---|---|---|
| 2019 | 20.03% | 18.19% |
| 2018 | 20.50% | 18.64% |
| 2017 | 20.13% | 18.60% |
| 2016 | 20.43% | 18.97% |
| 2015 | 20.63% | 19.86% |
| 2014 | 20.89% | 19.86% |
| 2013 | 20.78% | 19.52% |
| 2012 | 20.65% | 19.15% |
| 2011 | 20.70% | 19.78% |
| 2010 | 20.50% | 19.99% |
| 2009 | 20.12% | 19.23% |
| 2007 | 18.66% | 18.03% |
| 2005 | 18.89% | 18.82% |
Renter Fraction in Arkansas
You can calculate the renter fraction in Arkansas in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Arkansas as a fraction of total Arkansas households. In 2019 34.53% of households were renters according to Census ACS data.
Arkansas Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Arkansas | 34.53% | +0.29% | -0.92% |
Trends in the Arkansas Renter Fraction
The Arkansas household renter fraction peaked in in 2016 at 35.45% and is now 0.92% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Arkansas, US
History of Arkansas Renter Fraction
| Date | US | Arkansas |
|---|---|---|
| 2019 | 35.89% | 34.53% |
| 2018 | 36.05% | 34.24% |
| 2017 | 36.13% | 34.75% |
| 2016 | 36.88% | 35.45% |
| 2015 | 36.97% | 34.83% |
| 2014 | 36.90% | 34.21% |
| 2013 | 36.50% | 34.28% |
| 2012 | 36.09% | 33.76% |
| 2011 | 35.42% | 33.40% |
| 2010 | 34.65% | 32.59% |
| 2009 | 34.13% | 33.96% |
| 2007 | 32.80% | 32.27% |
| 2005 | 33.10% | 32.25% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
