With low home prices that are beginning to appreciate at a steady rate, purchasing a Rent to Own property in Arkansas gives home buyers a chance to get into their home while prices are low and watch their equity grow. Foreclosures are down, signally a strengthening market, but the number of homes with negative equity as of the end of last year remained above the national average--meaning there's a strong incentive for sellers to consider alternative financing.
Minerals and Retail
A Southern state that has become known for the tenacity of it's famed Razorbacks, Arkansas combines rural charm with industrial and economic prowess. Over 50 percent of the state is covered in rich forest, providing naturalists and active people alike plenty of places for hiking, camping, and other outdoor activities. Arkansas is also home to extensive mining of precious minerals, as well as the headquarters of America's biggest retailer, Walmart. Major industries in the state include mining, lumber, agriculture, life sciences, information technology, retail, and electronics manufacturing. Population growth averages at about 0.3 percent annually. Job growth in Arkansas continues at 1.4 percent and unemployment sits at 5.5 percent. For average income, the median household income is $32,182 and the median family income is $38,663 annually.
Ozark Valley, AR. Source: Mark Corder Digital ArtsArkansas buyers
Home values are well below the national average, making it a great place for middle class home buyers to find a place within a comfortable budget. According to Zillow, the median home value in Arkansas was $114,000 as of early May 2015. Home values are also appreciating at a steady 3.6 percent rate, signaling a strengthening market. Some of the most popular metro areas in Arkansas are Little Rock, Fayetteville, Jonesboro, Fort Smith, and Springdale.
Education School rankings are mostly good to average throughout Arkansas, with some of the best schools concentrated near major metro areas. Arkansas has notable universities that include the University of Arkansas, University of Arkansas at Little Rock, Arkansas State University, University of Central Arkansas, and University of Arkansas for Medical Sciences.
In terms of annual crime, violent crime rates are above the 3.8 per 1,000 residents national average at 4.6 while property crime is 36.03 per 1,000 residents and is above the 27.3 national average.
Little Rock, AR. Via LittleRockFamily.comCulture and Entertainment
Arkansas is home to many points of interest including Clinton Presidential Center, Hot Springs National Park, Little Rock River Market District, Old State House, and Crater of Diamonds State Park. Arkansas is a largely rural state with traditional values and Southern staples such as homestyle cooking. Nature is a part of life, so people enjoy being out in it and participating in outdoor activities.