72204, Little Rock, AR

The 72204 zip code of Little Rock, AR has a median home value of $128,000. Home values in this zip code have increased by an average of 9.4% over the past five years. In addition, the current market conditions indicate that home prices are projected to continue to rise in the 72204 zip code.

One factor contributing to the increase in home values in this zip code is the availability of quality housing stock. The majority of homes in this area are owner-occupied, which contributes to stability and appreciation over time. Additionally, Little Rock's economy is strong and continues to grow, which leads to more jobs and higher wages which can support higher home values.

Another factor contributing to the increase in home values in this area is low interest rates. Since banks are reluctant to lend money for mortgages with high interest rates, many potential homeowners are unable or unwilling to purchase a home due to these high rates. As a result, there is an increased demand for homes that can be purchased with lower down payments and without having to rely on outside financing sources such as loans or grants.

While there are many factors contributing towards the increase in home values in the 72204 zip code, it is important for buyers and sellers alike to understand what constitutes a fair price for their specific property location and situation. Homeowners who are considering selling their property should consult with an experienced real estate agent who can provide them with accurate market information and guidance on how best sell their property at a fair price