Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 7,605, 2,727 total housing units (homes and apartments), and a median house value of $285,574, Prairie Grove real estate is some of the most expensive in Arkansas, although Prairie Grove home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Prairie Grove, accounting for 80.21% of the city's housing units. Other types of housing that are prevalent in Prairie Grove include duplexes, homes converted to apartments or other small apartment buildings ( 8.86%), large apartment complexes or high rise apartments ( 6.73%), and a few mobile homes or trailers ( 2.52%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Prairie Grove. Owner-occupied housing accounts for 65.15% of Prairie Grove's homes, and 75.45% have either three or four bedrooms, which is average sized relative to America.
Prairie Grove homes and real estate are some of the newest in America. 49.56% of Prairie Grove's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Prairie Grove real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 34.43%), and between 1940-1969 ( 9.63%). There's also some housing in Prairie Grove built before 1939 ( 6.37%).
In the last 10 years, Prairie Grove has experienced some of the highest home appreciation rates of any community in the nation. Prairie Grove real estate appreciated 126.98% over the last ten years, which is an average annual home appreciation rate of 8.54%, putting Prairie Grove in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prairie Grove definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Prairie Grove that despite a nationwide downturn in the housing market, Prairie Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Prairie Grove appreciation rates continue to be some of the highest in America, at 7.44%, which is higher than appreciation rates in 78.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Prairie Grove. Prairie Grove appreciation rates in the latest quarter were at -0.34%, which equates to an annual appreciation rate of -1.36%.
Relative to Arkansas, our data show that Prairie Grove's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.
$285,574
for Arkansas
for nation
2,727
$1,990 / per month