Per Capita Incomes of AR MSAs

[Aporkalypse]

I found a link posted elsewhere and thought it would be interesting to discuss the findings...

The numbers are 2005 per capita income and in parentheses the rank by MSA...

Fay/Spring/Rogers $27806 (257)

Ft Smith $26081 (314)

Hot Springs $27048 (282)

Jonesboro $25113 (329)

Little Rock/NLR $32399 (122)

Pine Bluff $23526 (345)

Texarkana $26687 (295)

Here is the link...

MSA per capita incomes 2005

[Aporkalypse]

Also, for the first time 3 Arkansas real estate markets are being followed at CNNMoney in the 350-market analysis.

Home prices in:

AR Fayetteville $248,012

AR Little Rock $198,750

AR Fort Smith $179,225

Wow, those Fayetteville prices have gone through the roof.

Only Little Rock is followed in the quarterly analysis of 150 markets and they have prices increasing 7.9% over the last year which is well over the nation's 3.7% rate.

[vbfl85]

very interesting, it seems that little rock woud be more affordable because the per capita income is higher and the cost of housing is lower than nwa.

[dimebag1980]

Wow. I'd have thought the per capita income in NWA would reflect the high average home cost. I didn't expect to see Little Rock's per capita income that much higher than NWA's...

[Aporkalypse]

very interesting, it seems that little rock woud be more affordable because the per capita income is higher and the cost of housing is lower than nwa.

It's odd how quickly home prices have flipped. A decade ago LR was more expensive than NWA and not long before NWA was cheaper than just about anywhere. Market pressures have really pushed the prices up. I bet with a surplus of housing we see a dip, especially if homebuilders keep building.

I don't think the affordability issue is apparent yet but in a decade if current trends continue it will be.

[Mith242]

Very interesting numbers, thanks for posting them Aporkalypse.

[vbfl85]

did anyone see the New Orleans per capita income... it dropped from $31k to $20k

[Aporkalypse]

did anyone see the New Orleans per capita income... it dropped from $31k to $20k

I did but we all know that's a statistical reflection of Katrina as many people took most of the year off of work. Lake Charles had the 2nd biggest drop as well because of Rita. It will be interesting to see this year's numbers.

[masons_dad1]

The numbers are 2005 per capita income and in parentheses the rank by MSA...

Fay/Spring/Rogers $27806 (257)

Ft Smith $26081 (314)

Hot Springs $27048 (282)

Jonesboro $25113 (329)

Little Rock/NLR $32399 (122)

Pine Bluff $23526 (345)

Texarkana $26687 (295)

Home prices in:

AR Fayetteville $248,012

AR Little Rock $198,750

AR Fort Smith $179,225

That's a "bubble" if ever there was one.

[Aporkalypse]

That's a "bubble" if ever there was one.

[idlewild]

Memphis, TN-MS-AR 33,880 - this includes Crittenden County Arkansas

[hogwash]

The rampant oversupply of housing will solve some of those price issues with housing. The absorbtion rate has slowed dramatically in Benton County where oversupply was the greatest. The amount of new subdivisions being built has slowed way down and some developers are going belly under. Ie Terminella

I just don't understand how some of these developers didn't see the writing on the wall. Then again they almost built a 9000 seat ARENA by the NWAR airport, where it'll probably be 10 years or more before a 4 lane comes out that way...