Are you looking for a budget-friendly city to call home in Arkansas? Whether you are a student, a young professional, or someone looking to downsize, Arkansas has a place for you. Let’s explore a handful of the cheapest cities and towns to live in Arkansas from the perfect place in Fort Smith to a stellar studio in North Little Rock, there’s a home for you in Arkansas.
1. Fort Smith
Average rent: $807
Fort Smith tops the list as one of the most affordable cities in Arkansas. With an average rent of just $807, it’s a renter’s dream. You can find a one-bedroom apartment in Fort Smith for around $795 or a two-bedroom for $825.
One of the largest employers In Fort Smith is OK Foods, a massive chicken producer. For a budget-friendly day out, consider a visit to the Fort Smith National Historic Site for free. The Riverfront Park offers lovely walking trails and beautiful views of the Arkansas River.
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2. Conway
Average rent: $865
Conway is another great option, with an average rent of $865. You can snag a one-bedroom for $780 or a two-bedroom for $950.
Acxiom and the University of Central Arkansas are two of Conway’s top employers, providing ample jobs and a great college town vibe. For cheap thrills, enjoy a day at Cadron Settlement Park or take a stroll around Lake Conway, one of the largest man-made lakes in the U.S.
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3. Jonesboro
Average rent: $888
Jonesboro offers an average rent of $888, with a one-bedroom apartment costing around $700 and a two-bedroom $815.
In Jonesboro, Arkansas State University and NEA Baptist Memorial Hospital are among the top employers. Residents frequent Craighead Forest Park, which features trails, picnic areas, and a serene lake.
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4. Fayetteville
Average rent: $1,064
Fayetteville boasts an average rent of $1,064, just under the state median. You can find a one-bedroom for $902 or a two-bedroom for $1,150. The overall cost of living, including groceries and transportation, is quite reasonable here, making it an attractive spot for renters.
Fayetteville is home to the University of Arkansas, which is one of the largest employers in the city. The Fayetteville Farmers Market is a popular free attraction, offering fresh produce and local crafts. Another great option, the Botanical Garden of the Ozarks, provides a beautiful and inexpensive way to spend a day.
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5. Little Rock
Average rent: $1,068
Little Rock, the state capital, has an average rent of $1,068, slightly above Fayetteville but still under the state median. A one-bedroom apartment in Little Rock averages $868, while a two-bedroom goes for around $988.
Key employers in Little Rock include the Arkansas Children’s Hospital and Dillard’s headquarters. For a budget-friendly day out, visit the River Market District, which often has live music.
Apartments for Rent in Little Rock | Houses for rent in Little Rock | Homes for sale in Little Rock
6. North Little Rock
Average rent: $1,076
North Little Rock has an average rent of $1,076, making it a few bucks over the average, but still a great option. A one-bedroom apartment costs about $1,045, and a two-bedroom goes for $1,107.
Major employers in North Little Rock include L’Oreal and Caterpillar Inc. Anyone in the area should check out Burns Park, one of the largest municipal parks in the country, which has facilities for golf, running, and swimming.
Apartments for Rent in North Little Rock | Houses for rent in North Little Rock | Homes for sale in North Little Rock
Methodology
All cities must have over 50,000 residents per the US Census and have an average rent price within $10 of the median rent price for the state – which is $1,070 per month according to Redfin data. Average rental data from Rent.com July 2024.
