Mortgage Calculator & Closing Costs: Little Rock, AR
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Little Rock, Arkansas.
Median Home Price
$215K
Population
203K
Avg Monthly Rent
$1,050
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 Little Rock.
Little Rock vs Arkansas Median
The median home price in Little Rock is $215,000, which is 10% above the Arkansas state median of $195,000.
Mortgage Calculator — Little Rock, AR
Pre-filled with Little Rock median home price and Arkansas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $215K home using Arkansas's 0.62% tax rate and $2,500/yr insurance.
5% Down
$1,730/mo
Down: $10,750
Loan: $204K
P&I: $1,291
Tax: $111
Insurance: $208
PMI: $119
10% Down
$1,655/mo
Down: $21,500
Loan: $194K
P&I: $1,223
Tax: $111
Insurance: $208
PMI: $113
20% Down (No PMI)
$1,407/mo
Down: $43,000
Loan: $172K
P&I: $1,087
Tax: $111
Insurance: $208
Income needed (28% rule): $60K/year with 20% down, $71K/year with 10% down.
Rent vs Buy in Little Rock
Rent
$1,050/mo
vs
Buy (10% down)
$1,655/mo
Price-to-rent ratio: 17.1 — A ratio between 15-20 means the rent vs buy decision in Little Rock 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 Little Rock is $215,000, 10% above the Arkansas state median of $195,000. With a population of 202,591, Little Rock is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Arkansas average 0.62% annually. This low property tax rate is a significant advantage for Little Rock 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 Little Rock is $1,050/month. The price-to-rent ratio in Little Rock is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Little Rock 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 Little Rock.