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Affordable
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These days, finding an affordable place to live in the Penrose area can be challenging. Home prices in Penrose are now at a median cost of $58,854, lower than the Arkansas average of $207,061.
The average cost of rent is $586/mo in Penrose, primarily driven by the current value of real estate in the Penrose area. In Penrose, 30.57% of households rent, and 79.71% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Penrose is $5,572 per month. Households that rent pay about 10.52% of their income on rent here. Penrose’s most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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- Hunter, AR: less expensive homes
- Patterson, AR: higher priced homes
- Revel, AR: higher priced homes
- Colt, AR: higher priced homes
Cities with Similar Populations
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- Starford, PA: higher priced homes
- Stirling City, CA: higher priced homes
- Herod, IL: higher priced homes
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