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Rental Market Summary & Key Takeaways
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Fayetteville Key Takeaways
Landlords
Stable Market: No month-over-month change, indicating market stability.
Slight Yearly Decrease: A minor decrease in year-over-year rent suggests competitive pricing might be beneficial.
Good Availability: A moderate number of available rentals indicates a balanced market.
Tenants
Stable Rent: No immediate increase in rent, offering budget stability.
Considerable Choices: Enough available rentals to provide a range of options.
Warm Market: Suggests a moderately competitive market.
Bentonville Key Takeaways
Landlords
Rent Increase: Significant month-over-month and year-over-year increases indicate a strong demand.
Balanced Market Time: Average days on market remains steady, suggesting efficient turnover.
Limited Availability: Fewer available rentals could mean less competition among landlords.
Tenants
Increasing Costs: Be prepared for rising rents.
Quick Decisions: Stable market time indicates a need for prompt decision-making.
Competitive Environment: A warm market temperature suggests a competitive but accessible market.
Sources & Additional Information:
- Market temperature is based on changes in renter demand compared to the national average.
- For example, a hot market has increasing demand.
- Temperature is based on all bedrooms and all property types.
- Median rent - 3-bedroom houses: (1) Fayetteville - $1,850; (2) Bentonville- $1,950; (3) National average - $1,850.
- Bordo, Jonas. “The Complete 2023 Guide to Rent Prices in the US.” Accessed 20 Nov. 2023.
- Source: zillow.com 2023, rental-manager/market-trends/Fayetteville-AR, Accessed 25 Mar. 2024.
- Source: zillow.com 2023, rental-manager/market-trends/Bentonville-AR, Accessed 25 Mar. 2024.