Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Little Rock, AR, is certainly worth considering.
The city of Little Rock has a deep connection with American history, and has grown into an urban nature haven for residents to enjoy. While the city center is full of plenty of shops, dining, and entertainment for locals to explore, there is an abundance of parks, trails, and greenspaces right outside their door.
Affectionately referred to as “The Rock” by locals, Little Rock is located in the center of the state of Arkansas, along the Arkansas River. Proximity to the river as well as an abundance of state parks is what attracts people to the city the most.
But what about the Little Rock real estate market? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.
Here are some of the top trends for March 2024 in the Little Rock real estate market:
Table of Contents
Little Rock General Statistics
- Population (city proper): 203,106 (up .2% since 2019)
- Population (metro area): 757,945
- Area (city proper): 102.2 sq. mi.
- Area (metro area): 4,083.8 sq. mi.
- Median Age: 36.9
- GDP (metro area): $43.7 Billion
- Unemployment rate (metro area): 3.2% (up .2% Since November 2023)
- Top employers: Dillard’s, Welspun Group, Windstream, University of Arkansas System, University of Arkansas Medical Sciences, Longview Independent School District, Arkansas Department of Transportation, Little Rock School District, Dayspring Behavioral Health Services, and RLJ-McLarty-Landers Automotive Holdings, LLC.
- Highest paying jobs: Anesthesiologist, Physician, Hospitalist Physician, Oral and Maxillofacial Surgeon, Pulmonologist, Cardiologist, Hospitalist, Nuclear Medicine Physician, Medical Director, Rheumatologist.
- Median income (per capita): $41,039
- Median income (household): $55,065
Little Rock Real Estate Market Statistics
- Neighborhoods: 61
- Homes for sale as of March 2024: 864
- Median list price: $279K (up 3% since August 2023)
- Median sold price: $195.5K (down 2% Since January 2024)
- Sale-to-list price ratio: 100%
- Median price per square foot: $143
- Median days on market: 43 (down 12% since December 2023)
- Rental vacancy rate: 15.8%
- Homeowner vacancy rate: 3.8%
- One-year appreciation rate: -.2%
- Average rent: $1,021 (up .2% since March 2023)
- Price-to-rent ratio: 20
- Most expensive neighborhoods:
| Neighborhood | Average Monthly Rent | Median Listing Price |
| Heights | $1,879 | $879,127 |
| Duquesne Place | $2,179 | $716,731 |
| Riverdale & Pulaski Heights | $1,669 | $617,075 |
| Aberdeen Court & Bayonne Place | $2,025 | $527,302 |
| Robinwood & River Lodge | $1,876 | $513,263 |
- Least expensive neighborhoods:
| Neighborhood | Median Monthly Rent | Median Listing Price |
| Geyer Springs & Big Dickinson Lake | $1,538 | $94,134 |
| Wakefield & Upper Baseline | $1,270 | $102,181 |
| West Baseline & Legion Hut | $1,578 | $106,257 |
| Community outreach & South End | $1,206 | $106,345 |
| East Little Rock & East Roosevelt | $1,216 | $121,562 |
Final Thoughts: Little Rock Real Estate Market Trends in March 2024
The Little Rock real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Little Rock real estate market could provide ample opportunity to build your portfolio.
Get Started Buying Homes With Evernest
Whether you’re purchasing one Little Rock home or one hundred, you don’t have to go it alone.
If you’re ready to buy your first (or next) investment property, here are three steps to get started today:
- Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more.
- Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.
- Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.
