LITTLE ROCK, Ark. – The apartment rental market in Little Rock continues to stay below the national and state average, even as rental costs increase.
Little Rock rents are more affordable than many large cities nationwide, according to research by Apartmentlist.com in its September 2022 forecast. While rent in Arkansas has gone up 12.5% on the average in the past 12 months, Little Rock saw a 5.5% increase for the same period.
In Little Rock, the median rent for a one-bedroom apartment is $965, and $1,149 for a two-bedroom. The Fayetteville-Springdale-Rogers metro fares slightly better at $883 and $1,088 for one and two -bedroom apartments, respectively.
While the report acknowledges the 5.5% Little Rock jump is significant, it still holds median prices below the national average, which saw a 10% increase in rent for the past 12 months.
Nationally, the average for a two-bedroom is $1,364, and in hot real estate markets, such as San Francisco, the two-bedroom average is $2,680, or New York City at $2,250.