Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Arizona and Arkansas. Updated for 2026.
Metric
Arizona
Arkansas
Median Home Price
$380K
$195K
Property Tax Rate
0.62%
0.62%
Avg Closing Costs
$6K
$3K
Closing Cost %
1.6%
1.5%
Transfer Tax
None
0.33%
Homeowners Insurance
$2,100/yr
$2,500/yr
First-Time Buyer Program
Home Plus AZ
Up to 5% DPA grant
ADFA Down Payment Assistance
Up to $15,000 DPA
Verdict
Arkansas wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $195K and lower overall costs, Arkansas offers meaningful savings compared to Arizona. Both states offer first-time buyer programs — explore the state pages for full details.