Rent to own Homes in Arkansas
When Arkansas achieved statehood in 1836, it was a thriving plantation state, but its economy took a downturn after the Civil War and the abolishment of slavery. During the 20th century, it took local groups decades of hard work to bolster the state's financial situation. Nicknames played an important role in the efforts to revive Arkansas. Dubbing it the "Wonder State" in 1923 was an attempt to alter its image as a poor, underdeveloped area. Calling it the "Land of Opportunity" in the early '40s was meant to attract new residents and keep people from moving to other states to look for work. In the '80s, to attract tourists, Arkansas switched to the "Natural State," referring to its natural resources and beauty.
Though these nicknames were developed as marketing tactics, they all ring true in the 21st century. Arkansas is definitely a "wonder" state. It can produce almost every type of crop that's grown in the U.S. It is also a land of opportunity, thanks to the state's thriving industries, including agriculture, transportation and logistics, aerospace and defense, and forestry. Walmart, the number one company on the Fortune 500 list, and seven other major corporations are located in Arkansas. Finally, there's no arguing that the state's natural beauty is a sight to behold. More than 32 million annual visitors come to enjoy its splendor, and so should you. When you like what you see, you can make this magnificent state your home by buying one of the affordable rent-to-own homes in Arkansas.
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Rent to own Homes in Cities Near Arkansas
Neighborhoods in Arkansas
No neighborhoods foundAverage Cost of Living in Arkansas
You'll be pleasantly surprised at how affordable it is to live in Arkansas. Overall, the state's average cost of living is 21% lower than the national average. Even Bella Vista, which resembles a resort town, is 9.3% lower than the U.S. average. Little Rock, a prominent city, is 17.5% less than the rest of the country, and Fort Smith is 24% lower. People moving to Arkansas should not be concerned about the cost of living in the state.
Average Home Prices in Arkansas
There are reasonable housing prices, and then there's Arkansas' real estate market. The median cost of a home in the state is $128,800, while the U.S. median is $231,200. In Bella Vista, you'll pay $178,900, Little Rock's median home price is $143,000, and the average price tag in Fort Smith is $110,300. Despite its splendor and economic attributes, Arkansas rent-to-own homes are low-priced and in abundance.
Arkansas Statistics
If you're interested in Arkansas rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Arkansas statistics compared to the U.S. national average.
| Arkansas Averages | National Averages | |
|---|---|---|
| One-Way Commute | 21.6 minutes | 26.4 minutes |
| Violent Crime | 30.0 | 22.7 |
| Property Crime | 44.6 | 35.4 |
| Unemployment Rate | 4.0% | 3.9% |
| Income Tax Rate | 6.9% | 4.6% |
| Air Quality | 53 | 58 |
| Water Quality | 79 | 55 |
| Median Household Income | $41,264 | $53,482 |
| Median Property Taxes | $775 | $2,200 |
| Utilities | $390/month | $112/month |
| Monthly Rent | $730 | $1,470 |
| Median Home Cost | $128,800 | $231,200 |
| Median Home Age | 33 years | 40 years |
Popular Arkansas Cities
Little Rock is the capital and most populous municipality in Arkansas. The stomping grounds of former President Bill Clinton has 197,312 residents and encompasses 119.2 square miles. It is located along the Arkansas River, with Pinnacle Mountain State Park at its west. Little Rock is a desirable municipality because it is so well-rounded with its amenities and attractions. A bustling downtown, the Bill and Hillary National Airport, the Little Rock Zoo, vineyards, mountain activities, and water sports are just some of what you'll find in this beautiful city.
Bella Vista began as a resort spot in 1917, offering amenities amid its attractive outdoor surroundings. It became a destination for retirees in 1965, but people of all ages started moving to the area over the following decades. Incorporation finally came in 2007, and it is now a recreational city with a population of 28,872 - nearly a 9% increase since 2010. Residents use the forest and Lake Avalon to keep an active lifestyle, and the municipality maintains over 40 miles of natural hiking and biking paths, with plans to add another 60 miles of trails in the planning stages.
Fort Smith was built as a military settlement and a point of entry into Native American lands in the early 1800s, but over the years, it developed into an enjoyable civilian city. Its current population is 87,981 - the second-most in the state - and it covers an area of 61.97 square miles. The municipality maintains its frontier-era and Civil War history through a series of museums and historical sites. Fun and games abound in the city with amusement parks, downtown nightlife, and many other attractions, but work is important to its residents as well. The Greater Fort Smith Area leads the state in manufacturing and has a diverse economy that continues to grow through local government efforts and encouragement.
Popular Amenities and Attractions in Arkansas
When you visit Arkansas, you'll see lots of nature - it's almost impossible to drive through the state and miss its beauty. There are 52 state parks and eight national parks spread throughout Arkansas. The Ozark-St. Francis National Forests are the crown jewel of the Natural State. Imagine 1.2 million acres of endless mountain biking, hiking, and horseback riding; lakes and rivers for boating, kayaking, canoeing, scuba diving, and snorkeling; and explorable underground wonders like Blanchard Springs Caverns.
For centuries, people came to the Hot Springs area to bathe in its naturally warm waters, believing in its medicinal powers. Bathhouse Row has a collection of eight stately bathhouses for visitors looking for the therapeutic experience of soaking in warmth and luxury. Located in Hot Springs National Park, visitors can choose to take advantage of a host of outdoor activities while they are in the area. You can escape reality while relaxing in the serene park environment and return to real life in the city of Hot Springs, which has all the amenities you need for an extended stay in the region.
Arkansans get to have it all - a great economy, pristine forests, magnificent mountain views, and crystal-clear bodies of water. Consider moving to this beautiful state to reap these benefits along with a lower-than-average cost of living and affordable housing prices.