Fort Smith, AR—72904
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fort Smith, AR
As of Oct '25, the median home price in Fort Smith, AR is $109,000, with a year-over-year change of -7.4%. This indicates that home prices in Fort Smith, AR are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $109,000 | -7.4% |
| Single Family | $109,000 | -7.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fort Smith, AR
As of July '25, Rentcast reports the average rent in Fort Smith, AR is $987, with a year-over-year rent change of 10.2%. Per bedroom, the median rent as of July '25 in Fort Smith, AR is 1-bedrooms: $641, 2-bedrooms: $927, 3-bedrooms: $1,180, 4-bedrooms: $1,820. The most common rental property sizes in Fort Smith, AR are 3-bedroom and 2-bedroom, accounting for 39.4% and 36.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $925 | $987 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $641 |
| 2 Bed Rent | $925 | $927 |
| 3 Bed Rent | $1,200 | $1,180 |
| 4 Bed Rent | $1,050 | $1,820 |
% of Rental Stock
Property Listings — Fort Smith, AR
As of Oct '25, Realtor.com reports that the median days on market for a home in Fort Smith, AR is 54. This is a increase of 17.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $162,000 | 5.0% |
Listing Count | 55 | 28.0% |
| Listings as % of Homes | 0.3% | 28.0% |
Days on Market | 54 | 17.0% |
Demographics — Fort Smith, AR
As of the latest ACS Survey released in 2023, Fort Smith, AR has a population of 22,600, which has remained stable by 0.8% over the past 5 years. Fort Smith, AR is a popular place for families, as children make up 31.5% of the population. The area has a poorly educated workforce, with 7.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,600 | 0.8% |
% Under 18 | 31.5% | 6.4% |
% Seniors | 11.9% | 9.2% |
% WFH | 3.7% | 208.3% |
% w/ College Degree | 7.4% | 10.4% |
As of the latest ACS Survey released in 2023, Fort Smith, AR is a predominantly hispanic area, with 44.5% of the population identifying as hispanic. The hispanic population has grown by 8.3% in the last 5 years. The second most common race or ethnicity in Fort Smith, AR is white, making up 31.1% of the population. Foreign-born residents account for 26.1% of the population in Fort Smith, AR, and this percentage has increased by 19.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.1% | -1.3% |
% Black | 9.4% | -44.7% |
% Hispanic | 44.5% | 8.3% |
% Asian | 9.5% | 37.7% |
% Foreign Born | 26.1% | 19.2% |
Mortgage and Risk — Fort Smith, AR
According to HUD data as of 2023, there were 163 mortgage originations in Fort Smith, AR, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Fort Smith, AR. Investor activity is low, as 6.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 163 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Fort Smith, AR
As of 2024, the percent of homes in Fort Smith, AR under the Section 8 program is 28.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Fort Smith, AR, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,153 |
Total Units Section 8 | 1,153 |
% Rentals under Section 8 | 28.7% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $650 | $690 |
| 2 Bedroom | -$15 | $925 | $910 |
| 3 Bedroom | $40 | $1,200 | $1,240 |
| 4 Bedroom | $450 | $1,050 | $1,500 |
Affordability — Fort Smith, AR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $109,000 |
| Median Household Income | $40,400 |