Best Affordable Places to Live in Arkansas in 2026

Best Places to Live in Arkansas

Looking for that special place where you can live your best life without breaking the budget? No matter what age and stage of life you’re in — whether you’re just getting started looking for a mortgage lender and buying your first home or you’re ready to retire — you’ll likely be able to find something that suits your needs in Arkansas. Here’s our roundup of some of the best places in Arkansas to live.

Best Affordable Places to Live in Arkansas

One of the big pluses of living in Arkansas is that almost anywhere you choose to buy or rent, the cost can be affordable. These three cities are all known for their quality of life, but they also have affordable home prices, so you won’t have to blow your budget.

1. Little Rock

Photo credit: iStock/Sean Pavone

Little Rock is Arkansas’ capital and its most-populated city, so you can expect to find a wide range of activities, amenities, and job opportunities. The city has several museums dedicated to its rich history, and there are plenty of places where you can see live music performances. Or you can head outside and explore Little Rock’s many parks and trails.

Population: 206,427

Median Household Income: $63,003

Cost of Living: 86% of U.S. average

Median Rent Price: $1,250

Home Value-to-Income Ratio: 3.4

Housing Affordability: The average home value in Little Rock has gone up a bit over the past year and is comparable to the median for the state, but is still more than $130,000 under the national average.

2. Bryant

Housing Affordability: The average home value is up a bit in Bryant, year over year, and the rental market is warm, but the home value-to-income ratio shows costs are still in the healthy range. If you’re looking to buy in Bryant, go through the mortgage preapproval process to get a sense of what your budget can bear and what type of mortgage terms you might be eligible for.

3. Lowell

Housing Affordability: The average home value in Lowell is higher than in some other Arkansas locations, and only slightly below the national average. Rent prices are up year over year, as Lowell’s rental market is heating up.

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Best Places to Live in Arkansas for Families

Families looking for easy access to shopping, dining, and activities for kids may find these three cities are a good fit.

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1. Centerton

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Brandonrush , Creative Commons CC0 1.0 Universal

Every member of the family should be able to find something to like about Centerton, with its mountain-biking trails and golfing, shopping and dining, many parks, and even a city pool. Parents also appreciate the city’s good schools. And home prices in Centerton tend to be more affordable than in nearby Bentonville and other popular cities in this area.

Population: 27,176

Median Household Income: $115,713

Cost of Living: 87% of U.S. average

Median Rent Price: $1,718

Home Value-to-Income Ratio: 3.0

Housing Affordability: The average home value in Centerton is holding steady and the home value-to-income ratio shows that costs are still manageable for most residents. The median rent price has dropped only slightly from a year ago.

2. Rogers

Photo credit: iStock/Michael Warren

Rogers, home of the very first Walmart store, is another family-friendly city in the fast-growing Northwest Arkansas region. Along with good shopping and dining, Rogers offers several unique experiences for kids and parents: They can cheer for the Double-A Northwest Arkansas Naturals baseball team at their downtown stadium. They can visit the Daisy Airgun Museum and the Arkansas Air & Military Museum. And they can enjoy live concerts at the Walmart Arkansas Music Pavilion.

Population: 76,956

Median Household Income: $86,728

Cost of Living: 90% of U.S. average

Median Rent Price: $1,900

Home Value-to-Income Ratio: 4.4

Housing Affordability: The average home value in Rogers rose in the past year and rent prices have increased as well, reflecting the popularity of this spot.

3. Bentonville

Photo credit: iStock/Larry Fleury

Bentonville is at or near the top of every “best of Arkansas” list for many reasons. Besides enjoying the beautiful mountain views, you’ll find there’s a lot for kids and adults to do in this growing city. And parents will be drawn to the well-regarded schools. Home costs are higher in Bentonville than in many other areas of the state (and have risen 4% year over year), but the overall cost of living is lower than the U.S. average.

Population: 63,057

Median Household Income: $112,792

Cost of Living: 89% of U.S. average

Median Rent Price: $1,900

Home Value-to-Income Ratio: 4.3

Housing Affordability: Rents have also risen year over year.

Best Places to Live in Arkansas for Young Adults

Hoping to find a city with a thriving job market, a low cost of living, and fun things to do in your free time? Here are three locations that may offer the lifestyle you’re looking for.

1. Fort Smith

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Fort Smith embraces its history as a former military post in a frontier town, and the military still has a strong presence there. The city also is known for its popular farmers market, eclectic dining scene, and a wide range of outdoor activities.

Population: 90,855

Median Household Income: $54,816

Cost of Living: 77% of U.S. average

Median Rent Price: $975

Home Value-to-Income Ratio: 3.6

Housing Affordability: The average home value and median rent price are both lower in Fort Smith than in most locations in the state. Lower home values may help you find a home that fits your budget, which may make it easier to qualify for a mortgage.

2. Jonesboro

Photo credit: iStock/BOB WESTON

Jonesboro is another fun college town, with many activities centered around Arkansas State University. There’s also plenty to do outdoors, including hiking, cycling, fishing, and boating. And the city has a diverse and thriving job market.

Population: 83,296

Median Household Income: $55,424

Cost of Living: 86% of U.S. average

Median Rent Price: $1,225

Home Value-to-Income Ratio: 4.1

Housing Affordability: If affordability is on your list of “must-haves,” Jonesboro is worth checking out. The average home value is up almost 4% year over year, but costs are still lower than the state average. Rent prices are up year over year as well, as a growing population competes for living space.

3. Farmington

Housing Affordability: Home and rental costs have both gone up in Farmington over the past year, but home values are still significantly lower than the national average. If you’re shopping for your first home, make sure you understand the difference between mortgage prequalification and preapproval.

Best Places to Live in Arkansas for Retirees

These three Arkansas cities have a lot to offer, whether you’re hoping to ramp things up in retirement or slow things down.

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1. Hot Springs

Photo credit: iStock/Sean Pavone

Hot Springs’ charm and manageable cost of living would make it a good place for just about anyone to settle down. But the city’s natural thermal springs and its focus on wellness may be especially appealing to retirees.

Population: 37,979

Median Household Income: $75,370

Cost of Living: 90% of U.S. average

Median Rent Price: $1,250

Home Value-to-Income Ratio: 3.2

Housing Affordability: Home prices rose steadily in Hot Springs during the pandemic before flattening out. The average home value is nicely below the U.S. average. Understanding the different types of mortgage loans available to you can help you keep your options open. Rent prices are down marginally over the past year, good news for those coming into the community.

2. Bella Vista

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Bella Vista started out as a resort town and retirement village in the foothills of the Ozarks, near the Missouri border. And though it became a full-fledged city in 2008, it still has a laid-back, relaxing vibe. Besides its lakes and golf courses, it is also known for its biking trails and, of course, the beautiful views that inspired the city’s name. (If you’re interested in the region, but open to cities in other nearby states, you can check out the cost of living by state for each.)

Population: 34,518

Median Household Income: $88,055

Cost of Living: 86% of U.S. average

Median Rent Price: $2,250

Home Value-to-Income Ratio: 4.1

Housing Affordability: The average home value in Bella Vista is higher than in some other Arkansas cities, with prices creeping up over the last couple years. Rents have risen in the last year as well.

3. Arkadelphia

Housing Affordability: The rental market is tight in Arkadelphia, but rents are still notably low. The average home value is up, but it is still much lower than the average for the state.

Best Places to Live in Arkansas Near the Water

Keep these locations in mind if a home on the water, near the water, or with a water view is one of your house-hunting priorities.

1. Russellville

Photo credit: iStock/Michael Dean Shelton

Though Russellville is a popular tourist destination (thanks to its proximity to beautiful Lake Dardanelle and four state parks), it’s also a fun place to live, with an annual fall festival, a Center for the Arts that hosts concerts and theater productions, and the Centerville Dragway for racing fans.

Population: 29,521

Median Household Income: $50,877

Cost of Living: 81% of U.S. average

Median Rent Price: $825

Home Value-to-Income Ratio: 4.2

Housing Affordability: The average home value in Russellville is up year over year. Rentals have cooled a bit over the last year. Both renting and purchasing a home remains quite affordable here.

2. Siloam Springs

Photo credit: iStock/Wirestock

Siloam Springs is a growing city with something for everyone, including a revitalized downtown, historic sites, and lots of outdoor activities. Adventure seekers can enjoy Siloam Springs Kayak Park on the Illinois River or the downhill cycling trails at City Lake.

Population: 21,298

Median Household Income: $72,065

Cost of Living: 92% of U.S. average

Median Rent Price: $1,528

Home Value-to-Income Ratio: 4.0

Housing Affordability: The average home value in Siloam Springs is up slightly year over year, but it’s well under the U.S. average. The median rent is down slightly, but the market is still warm.

3. Greers Ferry

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Brandonrush , Creative Commons Attribution-ShareAlike 4.0 International

The tiny city of Greers Ferry is located on Greers Ferry Lake, a 40,000-acre reservoir that offers fishing, boating, diving, and waterskiing — and is a national model for environmental cleanliness. The city is known primarily as a resort town, but the great scenery and local amenities could make it an appealing location for retirees — or anyone looking for a relaxing, outdoorsy life.

Population: 778

Median Household Income: $57,235

Cost of Living: 79% of U.S. average

Median Rent Price: $1,200

Home Value-to-Income Ratio: 4.5

Housing Affordability: The average home value is up year over year by more than 5% — but it’s still well below the national average. There are few homes for rent here, so renting could be a tough proposition, though there are homes available in surrounding communities.

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The Takeaway

Arkansas has something for just about everyone, whether you’re looking for a big (but not too big) city, a suburb with plenty for the kids to do, or a tight-knit and charming small town. And because the overall cost of living, and the cost of housing specifically, is lower than in most states, Arkansas can be an attractive option for families, retirees, and young adults just starting out.

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FAQ

What is the most affordable city in Arkansas?

Some of the most affordable cities in Arkansas are Bentonville, Fort Smith, and Arkadelphia, although there are many affordable cities in Arkansas that are worth checking out.

What is the cost of living in Arkansas?

The cost of living in Arkansas is 15% lower than the U.S. average, according to the most recent data from the MERIC Index, which ranks the cost of living by state. (Currently, Arkansas is ranked 47th for cost of living in the U.S.)

How much do you need to earn to live comfortably in Arkansas?

The amount you’ll need to live comfortably in Arkansas depends on your definition of “comfort” and the size of your family. According to the Living Wage Institute, the living wage for an individual with no children in Arkansas is currently $20.01 per hour before taxes. For a couple with two children and just one parent working, a comfortable living wage would be $35.67 before taxes.

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