Cleveland County

Cleveland County, Arkansas sits at a median home price of $162,072, up 6.5% year-over-year, with an affordability index of 95 out of 100. The data does not include a rent figure or cap rate for this county, which means the cash-flow score registers as zero, not because the market is a loser on income but because the model lacks the inputs to score it. What the data does tell you clearly is that appreciation is the engine here: a 91 appreciation score, a national rank of 7 out of 1,000 counties, and placement in the 99th national percentile. This is an entry-price market where price growth has been running fast relative to the asset base, and an investor underwriting at $162,072 is buying into that trajectory at a cost that remains highly affordable by any national standard.

The numbers point most directly at the appreciation buyer and the patient buy-and-hold operator willing to carry a property while price compounding does the work. At $162,072 and a 20% down payment of $32,414, the capital commitment to get into this market is low. The 6.5% year-over-year price gain on that base translates to roughly $10,500 in equity gained in the past year, which is a meaningful return on a $32,414 equity stake before any rental income is counted. The cash-flow buyer will need to run their own rent comps before committing, since the model has no rent estimate for this county. The value-add operator faces the same blind spot: without knowing local rents, it is difficult to project stabilized yield, but the low entry price creates room for a margin of safety if rents are even modestly positive.

On carry costs, Arkansas's state-average effective property tax rate of 0.62% is a genuine tailwind. At that rate, the estimated annual tax on this property runs $1,005, and combined with estimated insurance of $778, the monthly tax-plus-insurance load comes to $149. That is a low fixed drag relative to the purchase price, and it meaningfully helps cash-flow math if an investor is carrying the property while waiting for appreciation or stabilizing a value-add unit. The standard caveat applies: 0.62% is a state-average estimate from the Tax Foundation (2024), and actual Cleveland County or township-level rates may differ, so confirm the local millage before closing.

No economic anchor data was provided for this county, and the population of 7,548 is small. A market this size carries real concentration risk: the tenant pool is limited, turnover events or a single large local employer reducing headcount can move vacancy rates materially. The stability score of 50 is the lowest of the scored dimensions, and at a population under 8,000, that score deserves respect. An investor should underwrite conservatively on vacancy, likely higher than they would in a metro market, and should expect that finding qualified tenants may take longer between turns. This is not a market where you want to be overleveraged or carrying a large portfolio without cash reserves.

Compared to its neighbors, Cleveland County is the clearest appreciation play in the peer group. Its overall score of 80 leads Prairie County (74), Grant County (74), Scott County (73), Perry County (71), and Jefferson County (71). On price, it sits between the cheapest options, Scott County at $152,008 and Prairie County at $149,082, and the more expensive Grant County at $206,491 and Perry County at $182,366. Jefferson County is the outlier with a median home price of $84,271 and a rent-to-price ratio of 0.126, making it by far the strongest cash-flow candidate in the peer group if gross yield is your primary filter. An investor should choose Cleveland County over its neighbors specifically when the thesis is appreciation and affordability, not immediate income. If the goal is day-one cash flow, Jefferson County's 12.6% gross rent-to-price ratio is the data-supported answer in this peer set, even at a lower overall score.