There’s a the age old question everyone thinks about when they decide to move to a city in Arkansas:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Arkansas, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Natural State.
To do that we are going to look at places in Arkansas that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Arkansas at the moment? That would be Walnut Ridge according to our analysis.
Here’s a look at the top ten places to buy a home in Arkansas for 2019:
- Walnut Ridge (Photos | Homes For Sale)
- Pea Ridge (Photos | Homes For Sale)
- De Queen (Photos | Homes For Sale)
- Lowell (Photos | Homes For Sale)
- Malvern (Photos | Homes For Sale)
- Centerton (Photos | Homes For Sale)
- Pocahontas (Photos | Homes For Sale)
- Siloam Springs (Photos | Homes For Sale)
- Paragould (Photos | Homes For Sale)
- Bentonville (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more Arkansas reading, check out:
- These Are The 10 Best Counties To Live In Arkansas
- 10 Best Places To Raise A Family In Arkansas
- These Are The 10 Best Places To Retire In Arkansas
How do you determine the best places to buy a home in Arkansas for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Arkansas. Put differently, the analysis will try to find places in Arkansas with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Arkansas with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 538 cities and towns in Arkansas, only 62 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 62 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that Walnut Ridge is the best potential gem in the not-so-rough in the Natural State.
Read on for more on these places.
While the official governmental history of Pea Ridge dates to the establishment of a post office in 1850, the area actually has a history of human habitation stretching back centuries prior.
Named after Malvern Hill, Virginia, Malvern was founded in 1870 by the Cairo and Fulton Railroad as a city site 21 miles southeast of Hot Springs. On October 15, 1878, Malvern officially became the county seat of Hot Spring County. The original inhabitants of the county were Native Americans, trappers, hunters, and farmers.
A tornado destroyed 40 homes, damaged 150, and injured 12 people on March 12, 2006.
This city was named after the Native American from Jamestown, Virginia. A statue of her is located in Overlook Park along the Black River.
Osage Indians were the known first inhabitants of the area. Siloam Springs’ first white settlers were of German and Scots-Irish origin. Simon Sager is considered the founder of the town, then known as Hico.
The city’s name is a blend combining the last names of competing railroad magnates J. W. Paramore and Jay Gould. Paramore’s Texas & St. Louis Railway and Gould’s St. Louis, Iron Mountain and Southern Railway intersected here in 1882. A group of citizens chose the name, and it is believed to be the only city in the world with this name. Gould objected to his name’s being second and refused to list the new town on his schedules.
The area now known as Bentonville’s first known use by humans was as hunting grounds by the Osage Nation who lived in Missouri. The Osage would leave their settlements to hunt in present-day Benton County for months at a time before returning to their families. White settlers first inhabited the area around 1837 and named their settlement “Osage”. By this time, the Osage had ceased using the area for hunting, and the white settlers began to establish farms. Upon establishment of Benton County on September 30, 1836, Osage was deemed a suitable site for the county seat, and the town square was established as the home of county government the following year. Osage was renamed Bentonville in honor of Thomas Hart Benton, a senator from Missouri who strongly supported Arkansas statehood. The Osage post office was established on December 31, 1836, and renamed Bentonville on January 3, 1906.
There You Have It – The Best Places To Purchase A House In Arkansas for 2019
There’s our analysis of the best places to buy a house in Arkansas. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 538 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more Arkansas reading, check out:
Detailed List Of The Best Places To Buy A Home In Arkansas
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