Real Arkansas home prices, property taxes, and mortgage rates — updated for 2026.
Arkansas is one of the most affordable states in the nation. With a median home price of $195,000 and mortgage rates around 7.1% in 2026, a buyer putting 20% down pays approximately $1,289/month including principal, interest, property taxes, and homeowners insurance.
Arkansas has an effective property tax rate of 0.61% — about $1,190/year or $99/month on the median home. Arkansas property taxes are well below the national average of 1.1% — a real advantage.
💡 Arkansas offers a homestead tax credit that reduces assessed value by up to $375.
Using the 28% housing cost guideline, you need at least $55,250/year gross household income to comfortably afford the median Arkansas home.
A 20% down payment is $39,000. FHA loans allow 3.5% down ($6,825), conventional loans start at 3% ($5,850), and VA loans offer 0% down for eligible veterans. Putting less than 20% down adds PMI (~0.5%/year), removed at 20% equity.
On a 30-year loan at 7.1% you would pay $221,413 in total interest. A 15-year mortgage or extra principal payments can cut this significantly.
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We update our calculators regularly to reflect current rates, tax brackets, and financial regulations. The formulas and default values are reviewed quarterly. For the most current rates, always verify with your specific lender or institution.