Home
/
Loans
/
Mortgage Calculator
/
Arkansas

Arkansas Mortgage Calculator (2026)

Calculate your monthly mortgage payment in Arkansas including principal, interest, and Arkansas's average property tax rate of 0.62%.

Arkansas Property Tax Note: Arkansas has one of the most affordable housing markets in the country, with a median home price around $195,000. The property tax rate of 0.62% is below the national average. Arkansas assesses property at 20% of fair market value, so the stated mill rates appear high but the effective rate is reasonable.

Your Mortgage Details

Home Price

Down Payment

Annual Interest Rate

Loan Term

Property Tax Rate

Arkansas average: 0.62%

Annual Homeowners Insurance

Results update automatically

Arkansas Monthly Payment

Estimated

Loading your results…

Results update automatically as you change values

Median Arkansas home ($195,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$1,037.87	$12,454
Property Tax (0.62%)	$100.75	$1,209
Homeowners Insurance	$150.00	$1,800
Total PITI	$1,288.62	$15,463

Total interest over 30yr: $217,634. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas ★	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

Arkansas has one of the most affordable housing markets in the country, with a median home price around $195,000. The property tax rate of 0.62% is below the national average. Arkansas assesses property at 20% of fair market value, so the stated mill rates appear high but the effective rate is reasonable.

Median home price: $195,000. Average property tax: 0.62%. Cost of living index: 86 (US avg = 100).

What is the average property tax rate in Arkansas?

The average effective property tax rate in Arkansas is 0.62%. This means on a $195,000 home, you would pay approximately $1,209/year ($100.75/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in Arkansas?

At the Arkansas median home price of $195,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $1,288.62. Using the 28% housing-to-income rule, you would need a gross monthly income of about $4,602.22, or $55,227/year. With less down payment or higher home price, the required income increases.

Is Arkansas a community property state?

Arkansas is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $156,000 loan at 7%, monthly P&I is $1,037.87 (30yr) vs. $1,402.17 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in Arkansas?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $1,209/year at Arkansas average rates on a $195,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

View for a specific state:

AL Alabama AK Alaska AZ Arizona AR Arkansas CA California CO Colorado CT Connecticut DE Delaware FL Florida GA Georgia HI Hawaii ID Idaho IL Illinois IN Indiana IA Iowa KS Kansas KY Kentucky LA Louisiana ME Maine MD Maryland MA Massachusetts MI Michigan MN Minnesota MS Mississippi MO Missouri MT Montana NE Nebraska NV Nevada NH New Hampshire NJ New Jersey NM New Mexico NY New York NC North Carolina ND North Dakota OH Ohio OK Oklahoma OR Oregon PA Pennsylvania RI Rhode Island SC South Carolina SD South Dakota TN Tennessee TX Texas UT Utah VT Vermont VA Virginia WA Washington DC Washington DC WV West Virginia WI Wisconsin WY Wyoming All 50 states

Accuracy & Methodology

Our calculators use current US tax rates and standard financial formulas. Results are estimates intended for planning purposes and do not constitute financial advice. Learn about our methodology ›

Arkansas Housing Facts

Median Home Price$195,000
Avg Property Tax0.62%
Cost of Living86 (US=100)

Related Tools

Salary After Tax Calculator
Mortgage Affordability Calculator
Budget Calculator