Cheapest Cities to Rent in Arkansas

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|10 min read

If you’re planning to move to Arkansas, relocating within the state, or considering an investment in real estate, you’ll find our list of the most affordable cities to rent in Arkansas valuable. This guide will help you navigate the diverse rental market in the Natural State.

Arkansas is well-regarded for its temperate climate, stunning natural beauty, and a rich blend of cultures. According to US News, it maintains a developing economy and ranks commendably in higher education nationwide. Given these benefits, it’s easy to see why Arkansas is a favored destination for many.

The state’s rental market reflects its size and diversity. Over recent years, Arkansas has seen a consistent increase in population, largely due to its lower cost of living, evolving city cultures, and job growth.

While the demand for affordable rentals is high, not all cities in Arkansas can be classified as cheap. However, there are areas where the average rent is notably lower than in the rest of the state. Continue reading to discover which cities offer the best rental deals in Arkansas.

Arkansas Rental Statistics

Before we dive into the most affordable cities to rent in Arkansas, let’s look at a few general rental facts and statistics:

  • The average rent in Arkansas is $760 per month, compared to $2,016 nationwide
  • Across the U.S., rental rates have increased by 31% in the past ten years
  • Approximately 109 million Americans reside in rental housing
  • The state with the highest number of rental units is California
  • About 30.80% of households in Arkansas rent their homes, with a rental vacancy rate of 12.9%

It’s clear that Arkansas is a more affordable living option than the national average and presents attractive opportunities for renters and real estate investors alike.

Renting can offer flexibility and freedom from the costs and responsibilities of home ownership, making it a preferred option for many. It allows individuals and families to adjust their living arrangements based on changes in their lifestyle, job location, or financial situation.

For those new to Arkansas or relocating within the state, renting can be an excellent way to explore different cities and neighborhoods before committing to a permanent residence.

From an investment perspective, the healthy demand for rental housing, coupled with below-average rental rates and a significant rental vacancy rate, positions Arkansas as a promising market. 

Real estate investors can potentially reap significant returns by providing affordable housing options to the considerable percentage of Arkansans who prefer to rent.

Cheapest Cities to Rent in Arkansas

This list of the most affordable cities to rent in Arkansas does not just focus on rental prices alone. We’re taking a comprehensive approach, examining various factors contributing to the overall cost of living and quality of life in each city. This includes:

  • Population: The size of the city’s population can impact the availability and pricing of rental properties.
  • Median Home Listing Price: This gives us a sense of the overall real estate market in the city.
  • Average Number of Days on the Market: This helps us understand how quickly properties are rented or sold.
  • Median Household Income: This figure offers a glimpse into the earning potential in the area.
  • Average Rent Price: Most crucial to our analysis, this tells us the typical cost of renting in the city.

Whether you’re a potential renter seeking the most value for your money or an investor scouting for high-return opportunities, our analysis will provide the insights you need to explore these affordable Arkansas rental markets.

Here are the top ten cheapest cities to rent in Arkansas, let’s dive in!

1. Pine Bluff

  • Population: 40,244
  • Median home listing price: $110,000
  • Average number of days on the market: 58 days
  • Median household income: $36,940
  • Average rent price: $440

Pine Bluff, located in the Arkansas Delta, is an historic city steeped in a rich history of agriculture, trade, and a Civil War legacy. It’s also home to a number of cultural institutions including The Arts and Science Center for Southeast Arkansas.

Despite facing economic challenges, Pine Bluff is working on rejuvenating itself, with initiatives aimed at downtown revitalization and improving education.

The city’s affordability with the average rent price at $440 and median home listing price at $110,000 make it an appealing choice for those seeking lower living costs.

2. Fort Smith

  • Population: 89,576
  • Median home listing price: $245,000
  • Average number of days on the market: 33 days
  • Median household income: $45,233
  • Average rent price: $502

Fort Smith, situated on the Arkansas-Oklahoma border, is a city with a deep-rooted frontier history that’s well-preserved in its numerous historic sites, including the well-preserved Fort Smith National Historic site.

Today, it has grown into a vibrant city that offers a variety of cultural amenities, outdoor recreation opportunities, and an active downtown scene. It also serves as a major economic center for the region, which is reflected in its median household income of $45,233.

With a moderate average rent of $502, it presents a reasonably affordable living situation.

3. Texarkana

  • Population: 29,314
  • Median home listing price: $199,900
  • Average number of days on the market: 43 days
  • Median household income: $43,625
  • Average rent price: $553

Texarkana, uniquely positioned on the state line of Texas and Arkansas, offers residents a blend of southern charm and modern living. With its vibrant arts scene, numerous parks, and family-friendly environment, the city caters to a variety of lifestyles.

Residents enjoy a low cost of living with an average rent of $553 and a median home listing price of $199,900.

4. Russellville

  • Population: 29,338
  • Median home listing price: $237,900
  • Average number of days on the market: 42 days
  • Median household income: $38,908
  • Average rent price: $567

Russellville is a small but bustling city located along the Arkansas River. It’s home to Arkansas Tech University, which infuses a youthful, vibrant energy into the town. Its unique mix of small-town charm and city amenities are a huge draw for families and students alike.

The city prides itself on its beautiful parks, lively downtown area, and high-quality schools.

The cost of living is also quite affordable, with an average rent of $567 and a median home listing price of $237,900.

5. Conway

  • Population: 65,121
  • Median home listing price: $274,000
  • Average number of days on the market: 24 days
  • Median household income: $48,104
  • Average rent price: $597

Conway, known as the “City of Colleges,” hosts three higher education institutions, giving it a unique intellectual and cultural vibe.

The city has a strong sense of community and offers a variety of shopping, dining, and entertainment options. Its lively arts scene, historic downtown, and beautiful parks make it a wonderful place to call home.

Conway’s affordability, evidenced by an average rent of $597 and median home listing price of $274,000, adds to its attractiveness for both families and young professionals.

6. Marion

  • Population: 13,695
  • Median home listing price: $275,000
  • Average number of days on the market: 38 days
  • Median household income: $80,170
  • Average rent price: $632

Marion is a rapidly growing suburb of Memphis, Tennessee, offering residents a rural feel with the conveniences of a larger city close by. With its high-rated schools, low crime rates, and a strong sense of community, Marion is a great place for families.

The city’s affordability, with an average rent price of $632 and a median home listing price of $275,000, is a key factor in attracting residents seeking a peaceful, affordable lifestyle.

7. Sherwood

  • Population: 33,020
  • Median home listing price: $245,000
  • Average number of days on the market: 28 days
  • Median household income: $67,964
  • Average rent price: $633

Sherwood, a tranquil suburb of Little Rock, has been recognized as one of the state’s safest cities. Its charm lies in its small-town feel combined with the convenience of being near the state capital.

With beautiful parks, an abundance of outdoor activities, and an engaged community, it’s an ideal place for families and outdoor enthusiasts.

Its affordable cost of living, with an average rent of $633 and a median home listing price of $245,000, adds to its appeal.

8. Jonesboro

  • Population: 79,324
  • Median home listing price: $272,400
  • Average number of days on the market: 43 days
  • Median household income: $48,901
  • Average rent price: $640

Jonesboro is a city that seamlessly combines the comforts of a small town with the opportunities of a big city. As a regional hub of manufacturing and agriculture, it also hosts Arkansas State University, offering a vibrant mix of educational and cultural experiences.

With numerous parks, shopping options, and a growing food scene, Jonesboro is a dynamic and affordable place to live, with an average rent of $640.

9. Bryant

  • Population: 21,073
  • Median home listing price: $294,000
  • Average number of days on the market: 30 days
  • Median household income: $76,965
  • Average rent price: $656

Bryant is a peaceful, growing city that offers a great quality of life. Known for its friendly community and excellent school system, it’s an appealing place for families. Its parks, trails, and recreational facilities provide plenty of opportunities for outdoor activities.

Living in Bryant is reasonably priced, with an average rent of $656 and a median home listing price of $294,000.

10. Benton

  • Population: 35,675
  • Median home listing price: $277,500
  • Average number of days on the market: 28 days
  • Median household income: $60,813
  • Average rent price: $658

Benton, located just west of Little Rock, is a flourishing city that prides itself on its sense of community and historic charm. With an array of parks, excellent schools, and a bustling downtown, Benton is a fantastic place to call home. Its affordability, as indicated by the average rent of $658 and median home listing price of $277,500, makes it a compelling choice for many families and professionals.

Final Thoughts

Which cheapest city to rent in Arkansas is calling you? All of these cities have thriving communities, healthy real estate markets, and strong economies.

All of them attract new residents thanks to affordable rent, strong employment opportunities, good public schools, and proximity to outstanding attractions known around the state. Many of these people will be looking for communities that have affordable rent prices and a thriving economy.

Cities like Pine Bluff, Fort Smith, Texarkana, Russellville, and Conway provide some of the best that Arkansas has to offer without the high price tags!

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Ready to Rent in One of the Cheapest Cities in Arkansas?

If you’d like to explore these communities further and see if investing in property in one of these cities is right for you, we invite you to reach out to FastExpert.com. As a company that connects people buying or selling a home with top real estate agents, we can match you with the perfect real estate agent who understands your motivation for investing in Arkansas.

We make it easy for you to hire the right real estate agent, and we provide convenient options to easily compare top agents to simplify your selection. Give us a try and discover why over 400,000 happy clients choose FastExpert!

Desiree Arredondo FastExpert Inc

Desiree is the Office Manager extraordinaire for FastExpert inc. and has been with the company since the beginning. Her writing comes from an extensive knowledge of the Real Estate market and the Real Estate process. She loves an organized desk and a large cup of coffee. She currently resides on the west coast with her family.

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