West Memphis, Arkansas Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the West Memphis, Arkansas rental market.
West Memphis, Arkansas
Average Apartment Rent
$709
Y-o-Y Change in Average
Apartment Rent
1.9%
As of July 2024
Compared to a year ago, West Memphis, Arkansas apartments have recorded a 1.9% rent increase.
West Memphis, Arkansas Average apartment rent trend
West Memphis, Arkansas Average Apartment Rent
West Memphis, Arkansas Apartment rent ranges
At 51.97%, apartments priced $700 - $1000 represent the bulk of West Memphis, Arkansas rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 3.63%.
West Memphis, Arkansas Housing tenure**
Renters take up 55% of West Memphis, Arkansas real estate, occupying a total of 5,336 units, while homeowners live in 4,318 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$27,917
Average household size of renter-occupied housing units**
2.42
Rental vacancy rate**
5.4%
West Memphis, Arkansas Renter-occupied housing units by no. of bedrooms**
There are 2,798 rentals in West Memphis, Arkansas with 2 beds making up the highest share of the market, at 52%. Units with No bedrooms, on the other hand, hold the lowest percentage (1%), amounting to 41 units. Overall, the median number of rooms in West Memphis, Arkansas homes for rent is 4.2.
West Memphis, Arkansas Renter-occupied units by age of householder**
Most condos for rent in West Memphis, Arkansas are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
West Memphis, Arkansas Renter-occupied housing units by family type**
West Memphis, Arkansas Renter-occupied housing units by the presence of own children**
A total of 2,996 apartments for rent in West Memphis, Arkansas, or 56% of all rentals are family households. Additionally, 38% of rental homes include children under the age of 18 – that’s 2,054 units. All in all, the median size of a renter-occupied household in West Memphis, Arkansas is 2.42.
West Memphis, Arkansas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 8% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in West Memphis, Arkansas.
West Memphis, Arkansas Renter-occupied units by year structure built**
The highest share of West Memphis, Arkansas apartment rentals, namely 23% or 1,211 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (19%, 1,020 units), and the ones Built 1980 - 1989 (13%, 686 units).
West Memphis, Arkansas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most West Memphis, Arkansas renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their West Memphis, Arkansas condos for rent is 2017.
West Memphis, Arkansas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of West Memphis, Arkansas renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 22% have No vehicle available.
West Memphis, Arkansas Means of transportation to work of householders living in renter-occupied housing units**
West Memphis, Arkansas Geographical mobility in the past year for householders living in renter-occupied housing units**
West Memphis, Arkansas Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all West Memphis, Arkansas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
