Pea Ridge, Arkansas Real Estate & Housing Market

Pea Ridge, AR Listings

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Pea Ridge Housing Information

Index	Pea Ridge	Arkansas	National
Median home price	$115,900	$114,700	$184,700
Median rent asked	$959	$689	$949
Avg. people per household	2.9	2.5	2.6
Owner occupied households	73.6%	65.7%	63.6%
Renter occupied households	26.4%	34.3%	36.4%

Above, you will see a summary of real estate in Pea Ridge, AR. On average, homes in Pea Ridge, AR cost $115,900, a value that is 1% higher than the average in Arkansas. In general terms, this results in Pea Ridge, AR real estate being less affordable than Arkansas real estate. On average, people who rent houses in Pea Ridge, AR pay $959; this value is 39% higher than the average amount renters pay in Arkansas. 73.6% of Pea Ridge, AR residents own their own homes and, on average, each of the homes has 2.9 occupants. Pea Ridge, AR real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Pea Ridge, AR is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Pea Ridge Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Pea Ridge, AR. To estimate home affordability, one method is to use the ratio of home price to median household income. The Pea Ridge, AR’s median home price stands at $115,900 while $53,355 is the value of the average household income. The resulting home price to income ratio, which is 2.2x, differs from the Arkansas average as the ratio is 20% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Pea Ridge, AR are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Pea Ridge, AR.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Seligman, MO	1,118	$69,600	62%
Washburn, MO	482	$73,800	60%
Pineville, MO	778	$98,600	47%
Avoca, AR	525	$115,600	37%
Gateway, AR	386	$123,800	33%
Pea Ridge, AR	5,177	$115,900	37%

Cities with similar population

City, State	Population	Home Price	National Avg.
Turpin Hills, OH	5,176	$299,800	62%
Gates, NY	5,178	$116,900	37%
Evansville, WI	5,176	$162,200	12%
Iowa Falls, IA	5,176	$90,000	51%
Sunset, UT	5,176	$134,900	27%
Pea Ridge, AR	5,177	$115,900	37%

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