Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 89,992 people, 36,373 houses or apartments, and a median cost of homes of $193,702, house prices in Fort Smith are solidly below the national average.
Single-family detached homes are the single most common housing type in Fort Smith, accounting for 65.69% of the city's housing units. Other types of housing that are prevalent in Fort Smith include large apartment complexes or high rise apartments ( 16.32%), duplexes, homes converted to apartments or other small apartment buildings ( 14.50%), and a few row houses and other attached homes ( 2.79%).
The most prevalent building size and type in Fort Smith are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.53% owning and 49.47% renting.
There is a lot of housing in Fort Smith built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fort Smith built between 1940-1969 ( 31.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.87%). There's also some housing in Fort Smith built before 1939 ( 6.41%).
Fort Smith's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fort Smith during the period has been just 5.40%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Fort Smith's appreciation rate, at 5.79%, has been at or slightly above the national average. In the latest quarter, Fort Smith's appreciation rate has been 2.19%, which annualizes to a rate of 9.06%.
Relative to Arkansas, our data show that Fort Smith's latest annual appreciation rate is lower than 60% of the other cities and towns in Arkansas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Smith differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Smith - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fort Smith real estate investment or home purchase decisions.
$193,702
for Arkansas
for nation
36,373
$1,144 / per month