Mortgage Calculator & Closing Costs: Jonesboro, AR
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Jonesboro, Arkansas.
Median Home Price
$185K
Population
79K
Avg Monthly Rent
$920
Property Tax Rate
0.62% *
* Property tax shown is the Arkansas state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Jonesboro.
Jonesboro vs Arkansas Median
The median home price in Jonesboro is $185,000, which is 5% below the Arkansas state median of $195,000.
Mortgage Calculator — Jonesboro, AR
Pre-filled with Jonesboro median home price and Arkansas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $185K home using Arkansas's 0.62% tax rate and $2,500/yr insurance.
5% Down
$1,517/mo
Down: $9,250
Loan: $176K
P&I: $1,111
Tax: $96
Insurance: $208
PMI: $103
10% Down
$1,453/mo
Down: $18,500
Loan: $167K
P&I: $1,052
Tax: $96
Insurance: $208
PMI: $97
20% Down (No PMI)
$1,239/mo
Down: $37,000
Loan: $148K
P&I: $935
Tax: $96
Insurance: $208
Income needed (28% rule): $53K/year with 20% down, $62K/year with 10% down.
Rent vs Buy in Jonesboro
Rent
$920/mo
vs
Buy (10% down)
$1,453/mo
Price-to-rent ratio: 16.8 — A ratio between 15-20 means the rent vs buy decision in Jonesboro depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Jonesboro is $185,000, 5% below the Arkansas state median of $195,000. With a population of 78,576, Jonesboro 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 Jonesboro 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 Jonesboro is $920/month. The price-to-rent ratio in Jonesboro is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Jonesboro 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.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Jonesboro.