Shannon Hills, Arkansas Real Estate & Housing Market

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Shannon Hills Housing Information

Index	Shannon Hills	Arkansas	National
Median home price	$123,000	$114,700	$184,700
Median rent asked	$1,112	$689	$949
Avg. people per household	3.0	2.5	2.6
Owner occupied households	87.5%	65.7%	63.6%
Renter occupied households	12.5%	34.3%	36.4%

A general overview of the Shannon Hills, AR real estate market is displayed above. The median home price for homes in Shannon Hills, AR is $123,000, which is 7% higher than the Arkansas average. This means that real estate in the Shannon Hills, AR area is generally less affordable than the rest of Arkansas. The median rent price in Shannon Hills, AR is $1,112 which is 61% higher than the Arkansas average. In Shannon Hills, AR, 87.5% of people are home owners and an average of 3.0 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Shannon Hills, AR. We make it easy to find Shannon Hills, AR real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Shannon Hills Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Shannon Hills, AR. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Shannon Hills, AR is $123,000 and the median household income is $58,155. This results in a home price to income ratio of 2.1x, which is 22% lower than the Arkansas average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Shannon Hills, AR are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Shannon Hills, AR.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Hensley, AR	25	$0	100%
Wrightsville, AR	1,246	$59,000	68%
College Station, AR	598	$62,100	66%
Salem city, AR	1,935	$66,300	64%
Sweet Home, AR	582	$75,300	59%
Shannon Hills, AR	3,614	$123,000	33%

Cities with similar population

City, State	Population	Home Price	National Avg.
Dixmoor, IL	3,614	$44,200	76%
Paulding, OH	3,615	$79,600	57%
Plains, PA	3,615	$94,400	49%
Leisure Village East, NJ	3,613	$169,500	8%
Wellsville, UT	3,612	$216,300	17%
Shannon Hills, AR	3,614	$123,000	33%

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