Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fort Smith, Arkansas.
Pre-filled with Fort Smith median home price and Arkansas tax/insurance rates. Adjust for your property.
Estimated closing costs based on Arkansas rates and fees applied to Fort Smith prices.
The median home price in Fort Smith is $155,000, 21% below the Arkansas state median of $195,000. With a population of 89,142, Fort Smith is a smaller market where home prices tend to be more accessible than in many parts of Arkansas.
Property taxes in Arkansas average 0.62% annually. This low property tax rate is a significant advantage for Fort Smith buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Arkansas runs approximately $2,500 per year. This is within the normal range nationally.
Average rent in Fort Smith is $850/month. The price-to-rent ratio in Fort Smith is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Fort Smith offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Arkansas's ADFA Down Payment Assistance program.