The real estate market in the 72450 zip code, which includes Paragould, Arkansas, is marked by a variety of housing options for renters and buyers alike. Over the past decade, the demand for rental properties has steadily increased, particularly for homes around 1143 square feet, which offer an ideal balance between space and affordability for many renters. This trend mirrors nationwide shifts where mid-sized homes are in high demand.
With a population of just over 28,000, Paragould provides a suburban environment with access to essential amenities, local businesses, and nearby larger cities. Its relatively low cost of living compared to national averages makes it an attractive option for renters seeking affordability without sacrificing comfort.
2. Key Factors Influencing Rental Prices
Several factors play into determining the average rental price for homes in this area:
Location Preferences
Rental prices in 72450 vary depending on proximity to schools, employment hubs, and commercial areas. Homes closer to the town center or major highways may command higher rental rates due to convenience, while properties in more remote areas might be more affordable.
Property Type and Size Considerations
The 1143sqft home represents an ideal option for small families, couples, or individuals who need more space than a typical apartment provides but may not require the size of a large house. Rental prices are affected by the condition of the home, the age of the property, and whether it comes with modern amenities like updated kitchens or energy-efficient features.
Economic Factors Affecting Rental Prices
Local economic health also impacts rental rates. As the regional economy grows, demand for housing often increases, leading to higher rental prices. Conversely, economic downturns might lead to a stagnation or even decrease in rental costs as fewer renters can afford higher rates.
3. 1143sqft Home: Ideal Size for Renters
The 1143-square-foot home is a popular choice in the rental market for several reasons:
Why 1143sqft is Popular Among Renters
This size strikes a balance between offering sufficient living space and being easy to maintain. Many renters find this size suitable for small families or individuals seeking extra room for a home office or hobby space.
Who Typically Rents 1143sqft Homes?
Renters of these homes often include young professionals, retirees, or families with one or two children. The size allows for flexible living arrangements, making it a versatile option for a variety of tenants.
4. Average Rental Price for 1143sqft Homes in 72450
The average rental price for a 1143sqft home in the 72450 area is competitive compared to other cities in Arkansas and the Midwest region. Prices typically range between $800 to $1,200 per month, depending on location, home condition, and amenities.
Market Averages in the Region
In more central areas of 72450, rents tend to skew towards the higher end of this range, while homes located further from commercial centers might be available for less.
Comparison with Nearby Regions
Compared to cities like Jonesboro or Little Rock, Paragould’s rental rates are lower, making it a more affordable option for those seeking the comforts of suburban living without the higher price tag of a larger city.
FAQs
What is the current average rental price for a 1143sqft home in 72450?
The average rental price typically ranges between $800 and $1,200 per month, depending on factors like location and amenities.
How do rental prices compare to other cities in Arkansas?
Rental prices in 72450 are generally more affordable than those in larger cities like Little Rock, making it an attractive option for renters.