Why Live in Fayetteville
Fayetteville's Dickson Street buzzes with live music venues and entertainment, anchored by the Walton Arts Center which hosts Broadway shows and concerts throughout the year. The award-winning TheatreSquared produces professional theater productions, while the Downtown Square comes alive with the seasonal Farmers' Market featuring local produce and crafts. The University of Arkansas campus showcases the historic Old Main building and unique Senior Walk, where every graduate's name appears etched in the sidewalks. Outdoor recreation abounds on the 40-mile Razorback Regional Greenway trail system, Mount Kessler Regional Park's hiking paths, and Centennial Park's mountain biking trails. Lake Fayetteville provides fishing and boating opportunities, while the Botanical Garden of the Ozarks displays stunning themed gardens.
The housing market in Fayetteville spans a wide range from $225,000 to $2,118,000. Single family homes in Downtown Fayetteville have a median price of $464,000, while Hyland Park's median price reaches $559,500. More affordable options exist in Asbell with a median price of $322,000 and West 62 at $370,000. One bedroom condos have a median price of $279,000, while two bedroom condos cost $240,000.
The cost of living sits 5.1% below the national average. A family with children needs approximately $100,000 annually to live comfortably, while renters should aim for $52,000. Property taxes remain competitive at 0.55%, with a combined sales tax rate of 9.46%. Monthly housing costs average $2,100 for families and $1,700 for renters. Grocery expenses run about $1,500 monthly for families and $700 for renters, both approximately 5% below national averages. Gasoline prices average $2.863 per gallon, 12% below the national average of $3.243.
The city's educational options include highly rated public schools like Woodland Junior High School and Fayetteville High School, plus the APlus rated St. Joseph Catholic School. The University of Arkansas serves as a major educational institution in the region.
Home Trends in Fayetteville, AR
On average, homes in Fayetteville, AR sell after 54 days on the market compared to the national average of 50 days. The median sale price for homes in Fayetteville, AR over the last 12 months is $375,500, up 4% from the median home sale price over the previous 12 months.
Median Sale Price
$375,500
Median Single Family Sale Price
$390,000
Median Townhouse Sale Price
$375,000
Median 2 Bedroom Sale Price
$240,000
Median 1 Bedroom Sale Price
$340,000
Average Price Per Sq Ft
$233
Number of Homes for Sale
437
Last 12 months Home Sales
1,743
Median List Price
$398,500
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
4%