72324, Cherry Valley, AR

The Cherry Valley zip code has a population of just over 2,000 people and an average home value of just over $100,000. This is a relatively affordable area to live in, especially when compared to some other areas in the state. The median household income in this zip code is just under $50,000, which is lower than the statewide median income of $60,000. However, the cost of living is also relatively low here - groceries are typically about half the price that they are in larger cities, and housing is generally much less expensive than it is in more affluent areas.

One reason why home prices are so high in Cherry Valley is that there are very few homes for sale here. In fact, only about 10% of homes on the market here are currently being sold - which means that most people who want to buy a home here have to wait quite a while before they can find one that they're interested in. This situation may change as time goes on - but for now it's likely contributing to high home prices.

Another factor contributing to high home prices in Cherry Valley is the fact that there's a lot of demand for homes here. Many people who live here commute into larger cities for work each day, and they're looking for an affordable place to call their own when they come back home at night. Plus, many retirees are moving into this area because it's close enough to major attractions but still has plenty of peace and quiet (and lower property taxes). Sooner or later these residents will start selling their homes and driving up prices even further - but for now it looks like Cherry Valley homeownership rates will remain high relative to most other parts of Arkansas.