Best Places to Own a Home in Arkansas? Bella Vista & Centerton Win!
The City Wire's online publication revealed that Bella Vista and Centerton, both in Benton County, ranked as the top two places to own a home in Arkansas. This comes from a recent study by the consumer advocacy site NerdWallet.
The City Wire states," NerdWallet crunched the numbers for all 62 Arkansas communities with more than 5,000 residents to find the best cities for homeownership in the state. Here’s what the best cities had in common:
• Home values were less than $200,000 in all but two places;
• In half the places homeowners spent less than 25% of monthly income on housing; and
• 18 of the 20 cities gained population between 2010 and 2012.
The criteria in this study looked at three main questions: Are homes affordable?; Can you afford to live there?; Is the city growing?"
Why Bella Vista?
- Ranked #1 with 89.3% home ownership rate
- Cost of home ownership as a percentage of household income was the lowest in the study at 23.4%
- Growing community
- Home prices are 8% less then neighboring Bentonville.
- Part of the Bentonville School Systems
- Wooded lots, amenities including golf, swimming facilities and lakes
- Home sales rose 16% from 2012-2013.
- 2nd highest median income in the state at $5118 per month
- Median Home price is affordable at $140,000 which is 15.6% less than neighboring Bentonville.
- Major street widening of Hwy 102 has made it more assessible for commuters
- Centerton is the site for the second high school, West Bentonville
- New Supercenter and neighborhood market are creating hundreds of job.