McGehee, Arkansas Real Estate & Housing Market

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McGehee Housing Information

Index	McGehee	Arkansas	National
Median home price	$70,200	$114,700	$184,700
Median rent asked	$496	$689	$949
Avg. people per household	2.3	2.5	2.6
Owner occupied households	51.6%	65.7%	63.6%
Renter occupied households	48.4%	34.3%	36.4%

The above shows an overview of the real estate market in McGehee, AR. Note how the median home price for McGehee, AR runs $70,200, which is 39% lower than the average property price for Arkansas. So you’re going to get real estate in McGehee, AR that is on-average more affordable than what you’ll find in the rest of Arkansas. As for rent, the median for McGehee, AR runs $496, which is comparatively 28% lower than the average rent for Arkansas. For McGehee, AR, about 51.6% of the population consist of home owners with about 2.3 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, McGehee, AR offers a wide variety of real estate. To find your perfect home in McGehee, AR, filter your choice by price, location, and number of beds and baths using the search area above.

McGehee Home Affordability

When deciding where to purchase McGehee, AR real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In McGehee, AR the median home price is $70,200 and $21,378 is the median household income. As a result, the home price to income ratio in McGehee, AR is 3.3x, which is 21% higher than the Arkansas average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in McGehee, AR the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in McGehee, AR.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Winchester, AR	230	$28,800	84%
Tillar, AR	274	$45,000	76%
Reed, AR	152	$45,000	76%
Arkansas City, AR	548	$46,000	75%
Dermott, AR	2,757	$49,400	73%
McGehee, AR	3,991	$70,200	62%

Cities with similar population

City, State	Population	Home Price	National Avg.
Morrison, IL	3,992	$91,900	50%
Fort Pierce South, FL	3,992	$85,500	54%
Skyline View, PA	3,993	$198,100	7%
Chelan, WA	3,989	$247,500	34%
Washington, GA	3,994	$88,400	52%
McGehee, AR	3,991	$70,200	62%

Source: The McGehee, AR housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).