Estimate your monthly mortgage payment in Arkansas — principal & interest plus Arkansas property tax and homeowner’s insurance.
Buying a home in Arkansas: what to know
Arkansas remains one of the most affordable states to buy a home, with a typical home value of $227,264 (Zillow ZHVI, September 2026) ranking near the bottom nationally. The effective property tax rate of just 0.56% is also well below the national average, keeping the tax slice of your monthly payment small. Homeowner’s insurance averages about $1,740 a year (NAIC 2022), reflecting tornado and hail exposure across the state. The Arkansas Development Finance Authority (ADFA) backs first-time buyers with the below-market StartSmart mortgage and Down Payment Assistance of $1,000 to $15,000.
Arkansas mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750Arkansas uses the standard 2026 baseline of $832,750 for a one-unit home in every county; no high-cost counties. |
| Median home price | $227,264 |
| Median effective property tax rate | 0.56% |
| Average homeowner’s insurance | $1,740/year |
Data as of October 2026. Sources: FHFA 2026 conforming limits (Nov 2025 announcement); Zillow ZHVI Sep 2026 (via Clever); Tax Foundation Property Taxes by State and County 2026 (2024 ACS); NAIC 2022 HO-3 premiums via Insurance Information Institute (May 2025); ADFA program materials.; rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Arkansas first-time buyer programs
- ADFA StartSmart First-Time Homebuyer Loan — Below-market 30-year fixed-rate first mortgage for buyers who have not owned a home in the past three years. Requires a 640+ credit score, county income and purchase-price limits, and homebuyer education. Official site
- ADFA Down Payment Assistance (DPA) — Provides $1,000 to $15,000 toward down payment and closing costs as a 10-year second mortgage at the same rate as the ADFA first mortgage. Must be paired with a StartSmart or Move-Up loan. Official site
How to use this calculator
The calculator is pre-filled with Arkansas’s $227,264 typical home value, the 0.56% effective property tax rate, and $1,740 per year for homeowner’s insurance. Arkansas uses the standard 2026 conforming limit of $832,750, so the calculator treats any loan above that as jumbo financing. Try 3 to 5% down-payment scenarios, since ADFA assistance can cover much of the upfront cash, and move the rate slider to see how sensitive your payment is at these price points.
Worked example: a median Arkansas home
Take a median-priced Arkansas home at $227,264. With 20% down ($45,452.80), the loan amount is $181,811.20. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $1,258.82/month. Add property tax of about $106.06/month (0.56% of $227,264, divided by 12) and insurance of about $145.00/month ($1,740 a year), for a total estimated payment of $1,509.88/month. Over 30 years, total interest would be about $271,365.45. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the 2026 conforming loan limit in Arkansas?
The 2026 conforming loan limit for a one-unit home in Arkansas is $832,750 in every county. Arkansas has no designated high-cost counties, and with the state’s typical home value near $227,000, most buyers stay far below the limit.
How much are property taxes in Arkansas?
Arkansas’s median effective property tax rate is about 0.56% (Tax Foundation 2026), roughly $1,273 a year on the $227,264 typical home. Amendment 79 caps annual assessment growth on homesteads, which helps long-term owners keep bills stable.
What first-time homebuyer programs does Arkansas offer?
ADFA’s StartSmart program offers a below-market 30-year fixed mortgage for first-time buyers, and the ADFA DPA program adds $1,000-$15,000 for down payment and closing costs. ADFA also offers a Move-Up loan for repeat buyers and a Mortgage Credit Certificate for an annual federal tax credit.
Why is homeowner’s insurance above average in Arkansas?
The average HO-3 premium was about $1,740 in 2022 (NAIC via III), above the $1,569 national average, driven by tornado, hail, and severe wind exposure. Compare wind/hail deductibles carefully, since a percentage-based deductible can mean thousands out of pocket after a storm.
Are some parts of Arkansas much more expensive than the state median?
Yes. Northwest Arkansas (Bentonville, Rogers, Fayetteville) runs far above the $227,264 statewide figure thanks to corporate growth, while Little Rock tracks closer to the middle. Set the calculator’s price to your county’s comps rather than the state median.