Moving to Arkansas in 2023? What You Need To Know!
If you’re interested in moving to Arkansas in 2023, this article is specifically for you! I believe that I am credible enough to share this information with you since I am not an Arkansas native myself. I have actually lived in 7 different states, several of which are likely states that home buyers like you are considering moving from including California, Texas and Oregon just to name a few!
Today, I want to talk through the ins-and-outs of life in Arkansas. This will include real estate prices, the lifestyle you can expect here, plus a segment where I share my opinion on how Arkansas has handled the coronavirus.
Why Move to Arkansas
If you are considering a move to Arkansas it may be because you are looking for a slower paced lifestyle or one that is more affordable than where you are currently living. These are big perks of living in Arkansas and I have worked with several people in the last year moving here for those exact reasons. Especially considering that some jobs are now fully “work from home” or remote positions, moving to Arkansas in 2023 may be more attainable than you have ever thought possible.
Real Estate Prices in Arkansas
Home prices are very affordable in Arkansas when compared to other states. Over the last year, due to lack of available inventory home prices have gone up. Over the next year, I do anticipate that we will start to levelize again in the Arkansas real estate market. With that said, in 2020, home values in Central Arkansas rose 9% and home values in Northwest Arkansas rose 12%. This is higher than the typically 2-3% yearly appreciation that is normal for our state. Although home prices are on the rise, I do believe it is still a safe time to buy due to historically low interest rates and the belief that a level market is on the horizon. Still, the average home value in the state of Arkansas is just over $140,000.
Out of 496 cities in Arkansas, only 9 of them have a population of 50,000 or more. This is important to realize when trying to figure out where in the state you should move to. Central Arkansas and Northwest Arkansas are the most popular areas. With that being said, the bigger cities in Arkansas will still feel small to those of you that want to get out of large areas.
Due to the availability of lower priced homes, several people toy with the idea of moving to Arkansas to get a home with some land. If you are looking for an acreage home or place to homestead, just know that these types of homes will be harder to come by at reasonable prices near the Central Arkansas and Northwest Arkansas markets as those areas have grown. If you know upfront that you are looking for a home on 20+ acres of land, you may want to explore some of the rural areas of Arkansas for the best value.
One of my favorite things about Arkansas is how easy urban life and nature blend together. In the same evening I can walk my dog on the Arkansas River Trail then head to a nice dinner downtown. Something that I do like to mention is that in my opinion, Arkansas as a whole does operate like a small town. What I mean by this is that Arkansans put a lot of value in personal relationships. Don’t be surprised if you come to Arkansas and when you walk into your local sushi restaurant, the staff knows you by name! To me, this was a very refreshing experience coming from larger cities.
Roads in Arkansas are very pothole prone. I am not sure what causes so many potholes but just know that you do need to be on the lookout for them. The roads are not bad by any means in fact, Arkansas does try to keep up with them by taking on a lot of road construction. Arkansas road construction does take time. When the city is planning to do road work, they will often put up signs to inform residents of the area. Just know that usually, Arkansas is about a year behind their proposed timeline for road projects!
New Companies Coming to Arkansas
In 2020, Trader Joe’s came to Arkansas and many people were excited! This year Lush Cosmetics has arrived and construction is in progress for our first Urban Outfitters and Costco! It is fairly big news that Costco is finally coming to the state of Arkansas. Since Walmart is headquartered in Bentonville, AR and Walmart owns Sam’s Club, many people thought Costco would never come into the territory. Let the battle of the wholesale stores begin!
If you are seriously considering a moving to Arkansas in 2023, please reach out to me directly by filling out my contact form. I will be in touch with you soon to talk about how I can assist you move to the Natural State!