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.

Located along the Arkansas River in the heart of the state, the city of Little Rock is renowned for its affordable living, diverse access to the outdoors, and charming historic roots. Founded in 1821, this city served as a waypoint for transporting goods along the river and across the country. 

Today, Little Rock exudes a warm, dense, suburban feel, with more houses and condos than high rise apartments. This, plus an abundance of shops, dining, and entertainment options, makes the metro perpetually popular with Arkansas natives and transplants alike. 

But what about the Little Rock real estate market in September 2024? 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 the Little Rock real estate market (September 2024):

Little Rock General Statistics

• Population (city proper): 204,244 (up .2% since 2020)

• Population (metro area): 757,945 

• Area (city proper): 120.2 sq. mi. 

• Area (metro area): 4,083.8 sq. mi.

• Median Age: 36.9 

• GDP (metro area): $47.3 Billion

• Unemployment rate (metro area): 3.4% (up .1% since February 2024)

• 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 (September 2024) Statistics

• Neighborhoods: 61

• Homes for sale as of September 2024: 1,060 

• Median list price: $290K (up 1.5% since march 2024)

• Median sold price: $175K (down 5.9% since march 2024)

• Sale-to-list price ratio: 94.43%

• Median price per square foot: $150 

• Median days on market: 38 (down 12% since January 2024)

• Rental vacancy rate: 15.8%

• Homeowner vacancy rate: 3.8%

• One-year appreciation rate: +3.4%

• Average rent: $1,029 

• Price-to-rent ratio: 20

• Most expensive neighborhoods:  

• Least expensive neighborhoods:
  
  

Final Thoughts: Little Rock Real Estate Market (September 2024) Trends

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.

This content was originally published on Evernest.co.