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 a population of 5,980, 2,201 total housing units (homes and apartments), and a median house value of $284,081, Royal real estate is some of the most expensive in Arkansas, although Royal home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Royal, accounting for 63.95% of the town's housing units. Other types of housing that are prevalent in Royal include mobile homes or trailers ( 34.67%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Royal. Owner-occupied housing accounts for 85.44% of Royal's homes, and 76.66% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Royal 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 Royal built between 2000 and later ( 36.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.73%). There's also some housing in Royal built before 1939 ( 2.06%).
Vacant housing appears to be an issue in Royal. Fully 17.58% of the housing stock is classified as vacant. Left unchecked, vacant Royal homes and apartments can be a drag on the real estate market, holding Royal real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Royal's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Royal during the period has been just 5.33%, which is lower than 70% of US communities.
Over the last year, Royal appreciation rates have trailed the rest of the nation. In the last twelve months, Royal's appreciation rate has been -0.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Royal were at 3.94%, which equates to an annual appreciation rate of 16.70%.
Importantly, this makes Royal one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Arkansas, our data show that Royal's latest annual appreciation rate is lower than 90% of the other cities and towns in Arkansas.
$284,081
for Arkansas
for nation
2,201
$1,660 / per month