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Affordable
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These days, finding an affordable place to live in the Formosa area can be challenging. Home prices in Formosa are now at a median cost of $105,131, lower than the Arkansas average of $207,061.
The average cost of rent is $1,025/mo in Formosa, primarily driven by the current value of real estate in the Formosa area. In Formosa, 21.58% of households rent, and 62.24% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Formosa is $5,122 per month. Households that rent pay about 20.00% of their income on rent here. Formosa’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Whipple, AR: equally priced homes
- Culpeper, AR: higher priced homes
- Pleasant Grove, AR: less expensive homes
- Southside, AR: equally priced homes
- Scotland, AR: less expensive homes
- Bee Branch, AR: higher priced homes
- Center Ridge, AR: higher priced homes
- Clinton, AR: higher priced homes
- Choctaw, AR: higher priced homes
- Gravel Hill, AR: less expensive homes
Cities with Similar Populations
- Winslows Mills, ME: higher priced homes
- Lone Tree, SD: higher priced homes
- Van Orin, IL: higher priced homes
- Lucas, MO: higher priced homes
- Ludlow, CO: higher priced homes
- Witoka, MN: higher priced homes
- Ukiah, OR: higher priced homes
- Lynville, MS: equally priced homes
- Two Buttes, CO: higher priced homes
- Macedonia, PA: higher priced homes
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