Fort Smith Arkansas Residential Rent and Rental Statistics
The median monthly gross residential rent in Fort Smith, AR (the Fort Smith metro area) was $707 in 2019 according to the Census ACS survey.1 Average gross rent in Fort Smith was $682 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 Fort Smith median and average rent data will be released in September of 2021.
Data is also available below for Fort Smith rental vacancy rates, Fort Smith rent as a percent of median income and the fraction of renters in Fort Smith.
Real Gross Rent in Fort Smith 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% |
| Fort Smith, AR Median Gross Rent | $707 | +2.32% | +3.21% |
Fort Smith, AR Real Gross Rent Trends
At $707, real median gross rent in Fort Smith was at its highest level in 2019 since the series began in 2005. At $682, real average gross rent in Fort Smith was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Fort Smith: Fort Smith AR Median, Fort Smith AR Average, Arkansas Median, US Median
Real Gross Rent History for Fort Smith
| Date | US Median |
Arkansas Median |
Fort Smith, AR Median |
Fort Smith, AR Average |
|---|---|---|---|---|
| 2019 | $1,097 | $742 | $707 | $682 |
| 2018 | $1,077 | $744 | $691 | $659 |
| 2017 | $1,043 | $733 | $646 | $641 |
| 2016 | $1,027 | $734 | $685 | $629 |
| 2015 | $1,017 | $737 | $676 | $656 |
| 2014 | $986 | $721 | $675 | $622 |
| 2013 | $953 | $694 | $636 | $615 |
| 2012 | $940 | $681 | $619 | $597 |
| 2011 | $941 | $690 | $635 | $590 |
| 2010 | $955 | $713 | $658 | $607 |
| 2009 | $960 | $691 | $622 | $609 |
| 2007 | $927 | $673 | $600 | $576 |
| 2005 | $910 | $686 | $609 | $575 |
Fort Smith 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 Fort Smith Arkansas was 4.73% according to Census ACS data.
Rental Vacancy Rate in Fort Smith Arkansas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Arkansas | 7.37% | -0.98% | -0.69% |
| Fort Smith, AR | 4.73% | -0.82% | -1.28% |
Trends in Fort Smith, AR Rental Vacancy Rate
The rental vacancy rate in Fort Smith peaked in 2014 at 12.11%. Since then it has fallen by 7.38% to 4.73%. Data records for this series originated in 2005.
Rental Vacancy Rate: Fort Smith AR, Arkansas, US
Historical Rental Vacancy Rate data for Fort Smith
| Date | US | Arkansas | Fort Smith, AR |
|---|---|---|---|
| 2019 | 5.97% | 7.37% | 4.73% |
| 2018 | 6.15% | 8.35% | 5.55% |
| 2017 | 6.18% | 8.22% | 7.49% |
| 2016 | 5.89% | 8.06% | 6.01% |
| 2015 | 5.85% | 8.50% | 8.30% |
| 2014 | 6.32% | 9.60% | 12.11% |
| 2013 | 6.49% | 9.66% | 8.74% |
| 2012 | 6.77% | 9.13% | 8.94% |
| 2011 | 7.40% | 10.00% | 11.25% |
| 2010 | 8.17% | 10.46% | 7.40% |
| 2009 | 8.43% | 10.48% | 8.39% |
| 2007 | 7.87% | 8.73% | 4.67% |
| 2005 | 7.74% | 9.52% | 8.79% |
Rent as a Fraction of Income
Using median household income data for Fort Smith, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fort Smith, median monthly gross rent as a fraction of median household income was 18.79% in 2019 according to the ACS.
Fort Smith 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% |
| Fort Smith, AR | 18.79% | +0.40% | -0.37% |
Trends in Fort Smith, AR Rent as a Fraction of Income
The fraction of median Fort Smith household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.62%. Since then it has fallen by 0.83% to 18.79%.
Fraction of Income towards Rent: Fort Smith AR, Arkansas, US
Historical Data for Annual Rent as a Fraction of Income in Fort Smith Arkansas
| Date | US | Arkansas | Fort Smith, AR |
|---|---|---|---|
| 2019 | 20.03% | 18.19% | 18.79% |
| 2018 | 20.50% | 18.64% | 18.39% |
| 2017 | 20.13% | 18.60% | 18.68% |
| 2016 | 20.43% | 18.97% | 19.16% |
| 2015 | 20.63% | 19.86% | 18.63% |
| 2014 | 20.89% | 19.86% | 19.56% |
| 2013 | 20.78% | 19.52% | 19.26% |
| 2012 | 20.65% | 19.15% | 19.37% |
| 2011 | 20.70% | 19.78% | 19.62% |
| 2010 | 20.50% | 19.99% | 18.60% |
| 2009 | 20.12% | 19.23% | 17.92% |
| 2007 | 18.66% | 18.03% | 16.72% |
| 2005 | 18.89% | 18.82% | 18.26% |
Renter Fraction in Fort Smith Arkansas
You can calculate the renter fraction in Fort Smith 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 Fort Smith as a fraction of total Fort Smith households. In 2019 37.83% of households were renters according to Census ACS data.
Fort Smith 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% |
| Fort Smith, AR | 37.83% | +4.58% | +2.68% |
Trends in the Fort Smith, AR Renter Fraction
At 37.83%, the 2019 household based renter fraction in Fort Smith was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Fort Smith AR, Arkansas, US
History of Fort Smith Renter Fraction
| Date | US | Arkansas | Fort Smith, AR |
|---|---|---|---|
| 2019 | 35.89% | 34.53% | 37.83% |
| 2018 | 36.05% | 34.24% | 33.25% |
| 2017 | 36.13% | 34.75% | 34.02% |
| 2016 | 36.88% | 35.45% | 35.15% |
| 2015 | 36.97% | 34.83% | 32.50% |
| 2014 | 36.90% | 34.21% | 31.33% |
| 2013 | 36.50% | 34.28% | 33.27% |
| 2012 | 36.09% | 33.76% | 31.70% |
| 2011 | 35.42% | 33.40% | 32.05% |
| 2010 | 34.65% | 32.59% | 29.65% |
| 2009 | 34.13% | 33.96% | 30.55% |
| 2007 | 32.80% | 32.27% | 33.61% |
| 2005 | 33.10% | 32.25% | 32.31% |
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. ↩
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