Housing

Forbes Names Little Rock Among America's 25 Strongest Housing Markets 

"The housing boom passed right over Little Rock, Ark.

"So has the bust.

"This quiet mountain metropolis of just over 675,000 saw none of the wild speculation of former boomtowns like Las Vegas or Miami, nor the ruined fortunes that followed."

"...housing prices in Little Rock don't look likely to fall by more than about 1% by the middle of next year. That's because they never climbed like they did in the rest of the countyr. In fact, 1% is about how much they have risen in the last year."

Single-family Housing

The Little Rock/North Little Rock MSA has an abundance of quality, low-cost housing. According to the 2008 American Community Survey, there are 298,336 housing units in the MSA. The Little Rock/North Little Rock MSA’s housing index for the third quarter of 2009 was 84.9 according to the ACCRA Cost of Living Index (100.0 is the national average). Houses may range from as low as $50,000 to as high as $500,000 and up in the more prestigious areas. According to the Arkansas Realtors Association, the average sales price for single family residential home in Pulaski County for January through October of 2009 was $74,238. For the first ten months of 2009, there were 3,699 new and existing residential units sold.

Apartment Development

Apartments range from efficiency to luxury and garden-style to high-rise or studio-loft, all with a varied price range. There are over 25,000 units in the Pulaski County area, including 45 complexes with 200 or more units and over 100 with more than 100 individual units. Monthly rental costs average from $550 for a one-bedroom unit to $680 and up for a two or more-bedroom unit.

For more information, Amy Longo or Susan Miller, 501.374.2001.