Study: The most and least affordable ZIP codes in Arkansas
FAYETTEVILLE, Ark. (KNWA/KFTA) — If you’re looking to buy a house in Arkansas, here are the most and least affordable ZIP codes to buy in, according to a recent study.
A study from home warranty company American Home Shield determined which zip codes with 10,000 or more residents were the most affordable for buying property nationwide by analyzing Zillow home prices and data from the U.S. Census Bureau.
In Arkansas, the most affordable ZIP code is in Pine Bluff and the least affordable is in Fayetteville.
The median home price in the Natural State is $198,838, according to Zillow.
Fayetteville’s 72701 ZIP code is the least affordable, with a median home price of $354,381, $155,543 more than the average in Arkansas. 72701 includes Fayetteville, Greenland, Hazel Valley and Wyman.
Report shows fewer homes being sold as rent prices increase
According to AHS, the average home price is 8.07 times the median household income in the ZIP code, the highest in the state.
The median home price in Pine Bluff’s 71601 ZIP code is $47,113, $151,725 less than the state average. 71601 includes north and eastern Pine Bluff and Atkins Lake.
AHS says home prices in that ZIP code are 1.49 times the median household income, among the lowest in Arkansas.
The most affordable ZIP code in the country is Flint, Michigan’s 48505 which has the only affordability ratio under 1.0 in the United States. The median home price of $27,703 is lower than the median household income of $29,061, giving it an affordability ratio of 0.95.
The least affordable is Beverly Hills, California’s 90210 which has an affordability rating of 34.82, more than 3.0 higher than New York City.
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