Arkansas has the 2nd-lowest median mortgage rate in the U.S., Business Insider says
October 18, 2024
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FAYETTEVILLE, Ark. (KNWA/KFTA) — Recent data shows that Arkansas is among the top five states with the cheapest median mortgage payments.
According to Business Insider, the five states with the lowest average mortgage payments are:
- West Virginia: $1,208
- Arkansas: $1,315
- Mississippi: $1,321
- Indiana: $1,359
- Alabama: $1,372
In the U.S., the median rent is $1,406, while the median monthly mortgage payment is $1,904.
In comparison, the median rent in Arkansas is $933, while median monthly household income is $4,892.
Arkansans spend 27% of their income on rent on average, according to Business Insider.
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