Best Places to Live in Arkansas

Looking for that special place where you can live your best life? No matter what age and stage of life you’re in — whether you’re just getting into 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 five 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.

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1. Little Rock

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 almost $100,000 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 price-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, but it’s still well below the national average. Rent prices are up year over year, as Lowell’s rental market is heating up.

Recommended: Home Loan Help Center

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.

1. Centerton

Housing Affordability: The average home value in Centerton is up year over year, but the home price-to-income ratio shows that costs are still manageable for most residents. The median rent price is also up, and the rental market is still warm.

2. Rogers

Housing Affordability: The average home value in Rogers rose in the past year but is still lower than the average home value nationwide. Rent prices are down from last year, reflecting the cool rental market.

3. Bentonville

Housing Affordability: Home values are up in Bentonville, and the current price-to-income ratio is creeping up. While rents are up year over year, the market is currently cooling.

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 five locations that may offer the lifestyle you’re looking for.

1. Fort Smith

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

Housing Affordability: If affordability is on your list of “must-haves,” Jonesboro is worth checking out. The average home value is up a wee bit year over year, but costs are still lower than the state average. Rent prices were up year over year, but the market is cooling off.

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

1. Hot Springs

Housing Affordability: Home prices rose steadily in Hot Springs during the pandemic before flattening out. The average home value is still higher than average for the state but well 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 over the past year, and the rental market is expected to continue trending downward.

2. Bella Vista

Housing Affordability: The average home value in Bella Vista is higher than in some other Arkansas cities, but prices seem to be stabilizing. And the average home value is still under the U.S. average. Rents have seen ups and downs in recent years, but the market outlook is currently cool.

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.

💡 Quick Tip: If you refinance your mortgage and shorten your loan term, you could save a substantial amount in interest over the lifetime of the loan.

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

Housing Affordability: The average home value in Russellville is up year over year, continuing their post-pandemic trend. Rentals have cooled considerably over the last year, and look to remain quite affordable.

2. Siloam Springs

Housing Affordability: The average home value in Siloam Springs is up year over year, and higher than the average value for the state, but it’s lower than the U.S. average. While the median rent is down, the rental market is hot hot hot.

3. Greers Ferry

Housing Affordability: The rental market is very tight in Greers Ferry, with only 1 available rental in early 2025. As a result, the average rent is hard to pin down, as it fluctuates between $750 and $1300. The average home value is up year over year, and is $50K higher than the state average — but it’s still well below the national average.

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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 17% 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 lowest 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 online Living Wage calculator provided by the Massachusetts Institute of Technology, the living wage for an individual with no children in Arkansas is currently $40,540 per year before taxes. For a couple with two children and just one parent working, a comfortable living wage would be $75,701 per year before taxes.

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SOHL-Q125-083

By Timothy Moore

A 470 credit score is considered to be a below-average credit rating, according to FICO® and VantageScore, two widely used credit scoring models. It’s also far lower than the average American’s FICO Score of 715.

A 470 credit score usually indicates to lenders that you are a high-risk borrower, and as such, you may have a difficult time qualifying for certain loans and credit cards. Fortunately, there are steps you can take to improve your credit score and boost your chances of getting approved for a wider array of financial products. Let’s take a closer look.

What Does a 470 Credit Score Mean?

A credit score is a three-digit number that rates your creditworthiness. It’s calculated using five credit score factors found in your credit report: payment history, amounts owed, length of credit history, credit mix, and new credit. Scores range from 300 to 850. The higher your score, the more attractive you are to potential lenders.

Here’s how FICO Scores, which are used in the majority of lending decisions, are categorized:

•   Poor: Less than 580

•   Fair: 580-669

•   Good: 670-739

•   Very good: 740-799

•   Exceptional: 800+

As you can see, a 470 credit score falls in the lowest-ranking category. As such, you might have trouble getting approved for several types of loans and potentially even for an apartment lease or phone plan.

How to Build Your Credit Score

If you have a credit score of 470, you’re likely wondering how to improve it. A good place to start is to get serious about paying your bills on time. That’s because payment history has a sizable impact on your credit score (35% on FICO’s credit rating scale). If you need help managing bills, you can set up autopay or use a budget app.

Your debt-to-credit ratio, or credit utilization rate, also carries a lot of weight when it comes to your credit score, so focus on paying down revolving debt. It’s also smart to keep old accounts open, maintain a diverse mix of credit products, and check your credit report regularly and fix any inaccuracies.

What Can You Get with a 470 Credit Score?

Depending on your employment status and income, you may be able to qualify for some types of debt with a 470 credit score. However, be prepared for high interest rates and fees. In some cases, you may also need a cosigner or to offer collateral, like your house, car, cash, or jewelry, to get approved for a loan or credit card.

Can I Get a Credit Card with a 470 Credit Score?

Although a 470 credit score will limit your options, it is possible to get a credit card with a 470 credit score. Technically, there’s no set minimum credit score requirement for credit cards. It varies by creditor, and a select few are willing to approve borrowers with a 470 credit score (or no credit history at all).

To find the options available to you, consider limiting your search to credit cards for bad credit. Often, these are secured credit cards, meaning you will need to supply a cash deposit — and can only spend up to that cash deposit with the card. This will limit your purchasing ability, since you can’t spend more than you have. On the flip side, it can help you build up your credit score over time if you make on-time payments.

Alternatively, you may be able to get a credit card by becoming an authorized user on someone else’s. A loved one with stronger credit can add you to their card, giving you the freedom to use the card as if it were yours. But note that it’s your friend or relative who ultimately has to pay the credit card bill, so spend responsibly and pay them back promptly if you hope to keep your relationship in good standing.

If you’re struggling to juggle all your various monthly payments and feeling crushed by the weight of high-interest credit cards, you might want to consider a credit card consolidation loan. This type of personal loan combines all your debts into one simple monthly payment, ideally at a lower interest rate.

Can I Get an Auto Loan with a 470 Credit Score?

A 470 FICO Score does not make you ineligible for a car loan. In fact, there’s no real minimum credit score needed for an auto loan. People with poor credit scores — or no credit history at all — can and do get qualified for auto loans. However, with a poor credit score of 470, you will likely only get approved for a small loan amount, meaning more expensive cars are out of reach. Expect high interest rates and fees on the auto loan as well.

Can I Get a Mortgage with a 470 Credit Score?

Minimum credit score requirements for mortgages vary by the type of mortgage, but a 470 credit score unfortunately will likely not cut it. Here’s a look at the minimum credit score needed for various types of home loans:

•   FHA loans: 580 (or 500 with a 10% down payment)

•   VA loans: 620

•   USDA loans: generally 640 (SoFi does not offer USDA loans at this time)

Even if you’re buying a house with a spouse, relative, friend, or partner with a stronger credit score, your credit score can cause issues. Instead, let your loved one apply for the mortgage on their own, and you can be added to the deed afterward.

Can I Get a Personal Loan with a 470 Credit Score?

You may be able to get a personal loan with a 470 credit score, but your options will likely be limited. Personal loan credit score requirements vary by lender, but many set the minimum at 610 — and you’ll need one much higher than that for the best terms.

However, it’s possible to find lenders that are willing to issue small personal loans to borrowers with bad credit, though they may charge high fees and interest rates. You can help improve your chances of approval by offering collateral (if you’re applying for a secured personal loan) or adding a cosigner.

As you’re weighing your options, use a personal loan calculator to help gauge what monthly payments look like for different loan amounts and interest rates.

The Takeaway

Is a 470 a bad credit score? Both FICO and VantageScore classify it as below average. But if this is your score, take heart. By paying your bills on time, paying down debts as you’re able, and reviewing your credit reports regularly for errors, you can potentially improve your credit score over time. Credit-builder loans, secured credit cards, and being an authorized user on a loved one’s credit cards may also help put you on firmer financial ground.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

By Timothy Moore

According to two widely used credit scoring models, a 540 credit score is below average. FICO®, which is used in 90% of borrowing decisions, classifies it as “poor”; VantageScore considers it “subprime.” A credit score of 540 is also far lower than the average American’s FICO Score of 715.

While the credit score could make it more difficult to access most types of debt, all is not lost. With a solid debt strategy — and dedication to that strategy — it’s possible to get your 540 credit score into fair territory (and even higher, eventually) over the next several months.

What Does a 540 Credit Score Mean?

Your credit score is a three-digit number that ranges from 300 to 850; the higher the score, the more attractive you are to lenders.

A 540 credit score indicates to lenders that you are a high-risk borrower. Why? Your FICO Score is calculated based on certain credit score factors that help a lender understand your history with borrowing. These include:

•   Your payment history

•   How much available credit you use

•   The length of your credit history

•   The mix of credit types you have

•   How much new credit you’ve applied for recently

Forgetting to pay your credit card bill, applying for too many personal loans in a short period of time, closing an older account, or maxing out your credit cards could all have a negative impact on your credit score. This is worth noting because your credit score doesn’t just influence lending decisions. Potential landlords, employers, and insurers may also look at your credit score before approving your lease, employment, or insurance coverage application; a credit score of 540 may affect their final decision.

How to Build Your Credit Score

If you have a 540 credit score, take heart: There are steps you can take to improve your score. Actions such as paying down your debt (without taking on new debt), making on-time bill payments, getting and responsibly using a secured credit card, or becoming an authorized user on a loved one’s credit card can all help improve your credit score over time.

It’s also a good idea to check your credit report regularly and address any inaccuracies you spot.

What Can You Get with a 540 Credit Score?

Getting approved for certain types of loans can be challenging with a 540 credit score, but that doesn’t mean borrowing is impossible. Here’s a look at what you can get with a 540 credit score.

Can I Get a Credit Card with a 540 Credit Score?

You can get a credit card with a 540 credit score, though your options may be limited and could come with a high annual percentage rate (APR) and fees.

One avenue to consider is getting a secured credit card, which requires a cash deposit that is often equal to your spending limit with that card. Or you might also want to ask a loved one with a good credit score to add you as an authorized user on their credit card. If you make any purchases with the card, however, it’s the card holder who must ultimately pay the bill. So it’s wise to set ground rules for when and how you can use the credit card, and how you’ll pay back what you spend.

Can I Get an Auto Loan with a 540 Credit Score?

Though a 540 credit score is poor, you should be able to get an auto loan with it. In fact, people with even lower credit or no credit at all can typically find auto financing. Because there’s no set minimum credit score for buying a car, even borrowers with deep subprime credit (scores below 580) can usually qualify.

However, with a 540 credit score, you will likely be limited in how much you can borrow for a car purchase, meaning you may need to set your sights on a model that’s older or has fewer bells and whistles. Borrowers with poor credit also generally have to pay higher fees and interest rates when financing a car.

Can I Get a Mortgage with a 540 Credit Score?

Getting a mortgage with a 540 credit score is unlikely but not impossible. The credit score needed to buy a house varies by lender and by the type of home loan. Here’s what generally expected for each major type of mortgage loan:

•   USDA loans: Borrowers generally need a 640 score. (SoFi does not offer USDA loans at this time.)

•   VA loans: Borrowers need a 620 credit score or greater.

•   FHA loans: Borrowers typically need a 580 score, but those who put 10% down can get by with a 500 credit score.

You may be able to find a lender offering FHA loans that is willing to accept a 540 credit score as long as you can put down at least 10%. Of course, mortgage lenders may have other criteria you’ll need to meet, like employment and salary requirements and debt-to-income ratio limits.

Can I Get a Personal Loan with a 540 Credit Score?

Credit score requirements for personal loans vary by lender, but many set the threshold at 610 or higher. With a credit score of 540, your personal loan options will likely be limited.

That said, there are lenders who are willing to issue small loans or credit card consolidation loans to borrowers with below-average credit, though they may also charge high interest rates and fees. You can improve your chances of approval by offering collateral for your personal loan or by adding a cosigner.

You’ll also want to figure out what your monthly payments will be, based on the amount you’re planning to borrow and the interest rates you’re offered. A personal loan calculator can help you crunch the numbers.

The Takeaway

Qualifying for loans with a 540 credit score can be challenging, but there are lenders out there willing to work with borrowers with lower scores. You can set yourself up for success for future loans by focusing on improving your credit score now. Making on-time payments, paying down outstanding debts, not applying for new debt, and disputing any errors on your credit report are all good ways to start improving your score.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.