Arkansas variant. This is a Arkansas-specific version of the Mortgage Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Mortgage Calculator.
With a median home value of $200,000 and an effective property tax rate of 0.61%, a typical Arkansas mortgage payment combines principal, interest, taxes, and insurance into a meaningfully different number than the sticker price suggests.
What drives a Arkansas mortgage payment
On the $200,000 median home with 20% down ($40,000), you'd finance about $160,000. At an illustrative 6.5% 30-year fixed rate, the principal-and-interest payment is roughly $1,011/month.
Arkansas's 0.61% effective property tax adds about $102/month, and homeowners insurance plus any PMI push the all-in payment higher still. Enter your real price, rate, and down payment above for an exact figure.
About taxes and housing in Arkansas
Arkansas has a graduated income tax that tops out at a modest rate, and the state has steadily reduced its top rate in recent years.
Arkansas has low property taxes and some of the most affordable home prices in the country.
Arkansas is home to major retail and food-processing companies, with agriculture and timber remaining important to its low-cost-of-living economy.
Worked example: $200,000 home in Arkansas
Price $200,000, 20% down ($40,000), loan $160,000 at 6.5% for 30 years → P&I ≈ $1,011/mo. Add property tax ≈ $102/mo (0.61% of value ÷ 12). Total before insurance ≈ $1,113/mo.
Quick reference
- State income tax: Top rate 4.4% on income over $24,300
- State sales tax: 6.5% (plus 2.97% avg local)
- Median home value: $200,000
- Median household income: $56,335
- Effective property tax rate: 0.61%
- Avg auto insurance: $1,657/yr
Frequently Asked Questions
How much is a mortgage on a $200,000 Arkansas home?
With 20% down at 6.5% over 30 years, principal and interest run about $1,011/month, before Arkansas's 0.61% property tax and insurance.
What is the property tax rate in Arkansas?
Arkansas's effective property tax rate is about 0.61% of home value per year.