Bentonville, Arkansas, has become a focal point for rapid economic growth and demographic shifts over the last fifty years, primarily driven by the influx of major corporations such as Walmart and Tyson Foods. This transformation has significantly altered the socio-economic landscape of the region, elevating areas surrounding these corporate headquarters into some of the wealthiest towns in Arkansas. As a result, the demand for housing has surged, leading to an increase in home values and the emergence of affluent ZIP codes in the state. The current analysis aims to explore the most expensive ZIP codes in Arkansas as of 2024, utilizing data from Zillow’s home value index and the U.S. Census Bureau.
In analyzing the real estate market in Arkansas, particular attention was paid to home values across various ZIP codes. The Zillow home value index provides a comprehensive overview, capturing significant trends in the state’s housing market. As of November 2024, the data indicates substantial growth in property values, reflecting not just local economic conditions but broader regional trends affecting the U.S. South. By examining these statistics, the analysis highlights the evolving nature of Arkansas’s housing landscape and offers insights into the wealth distribution across different areas.
Among the most expensive ZIP codes in Arkansas, 72718, located in Cave Springs, stands out with a remarkable median home value of $520,565, having increased by 67.6% over five years. This region is strategically positioned near pivotal cities like Bentonville and Rogers, making it an attractive locale for businesses and affluent residents. The strong economic base results in high household incomes, averaging $162,939, allowing residents to comfortably afford the increased property values. This blend of high income and appreciating home values exemplifies the changing dynamics within Arkansas’s real estate sector.
Bentonville itself, identified by ZIP code 72712, ranks second with an 84.2% rise in median home values over five years, reaching nearly $471,000. The area benefits from being home to Walmart’s headquarters, providing ample job opportunities and driving economic prosperity. The demographic composition reflects a favorable income-to-home-value ratio, where the average household income of $155,757 aligns well with the housing market. This affordability, relative to income, is a contrast to many other national markets where home prices disproportionately exceed average earnings.
The third most expensive ZIP code, 72223, located in western Little Rock, showcases a more moderate appreciation in median home values, registering a 32.5% increase to $459,548. This area hosts various communities and cultural sites, adding to its appeal. Notably, the average household income stands at $162,727, significantly bolstering the economic viability of the housing market; over a fifth of households in this ZIP code earn $200,000 or more. This trend underscores the existence of high-income households that contribute to stable real estate dynamics compared to other affluent regions where incomes may not match rising home values.
Furthermore, ZIP code 72713, also in Bentonville, has seen a staggering 71.3% growth in median home values to $457,216, accompanied by an average household income of $146,537, which keeps the income-to-value ratio manageable. The region’s rapid growth is indicative of the overarching trend of skyrocketing home values throughout Arkansas, reflective of broader economic shifts in the southern United States. Lastly, ZIP code 72732, centered around Garfield and Beaver Lake, rounds out the top five with an 80.8% increase in home values, now exceeding $411,000. Although the median household income of $68,548 is lower than the previous ZIP codes, the area has nevertheless experienced significant demand for housing, highlighting the diverse economic realities across Arkansas’s most affluent neighborhoods.
In conclusion, Arkansas’s housing market reflects significant investment opportunities and economic transformation fueled by major corporate presences. The emerging landscape showcases a robust appreciation in home values across several ZIP codes, constituting a complex interaction of income growth and housing demand. As the region evolves, continued observation of these trends will be essential to understanding the long-term implications for residents and investors alike, as well as the broader socio-economic landscape in Arkansas. This analysis not only spotlights the most expensive ZIP codes but also serves as a reflection of the state’s journey towards higher economic standing in the U.S. South.