Department of Numbers

Fort Smith Arkansas Residential Rent and Rental Statistics

The median monthly gross residential rent in Fort Smith, AR (the Fort Smith metro area) was $654 in 2016 according to the Census ACS survey.1 Average gross rent in Fort Smith was $601 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Fort Smith median and average rent data will be released in September of 2018.

Data is also available below for Fort Smith rental vacancy rates, Fort Smith rent as a percent of median income and the fraction of renters in Fort Smith.

Show dollars as: Nominal Real

Real Gross Rent in Fort Smith Arkansas (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Arkansas Median Gross Rent $701 -0.43% +5.73%
Fort Smith, AR Median Gross Rent $654 +1.40% +7.74%

Fort Smith, AR Real Gross Rent Trends

At $654, real median gross rent in Fort Smith was at its highest level in 2016 since the series began in 2005. Average gross rent for Fort Smith peaked in real terms in 2006 at $636 and is now $35 (5.50%) lower.

Real Gross Rent in Fort Smith: Fort Smith AR Median, Fort Smith AR Average, Arkansas Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Fort Smith

Date US
Median
Arkansas
Median
Fort Smith, AR
Median
Fort Smith, AR
Average
2016 $981 $701 $654 $601
2015 $972 $704 $645 $626
2014 $942 $689 $644 $594
2013 $910 $663 $607 $587
2012 $898 $650 $591 $570
2011 $898 $659 $607 $563
2010 $912 $681 $629 $579
2009 $916 $660 $594 $581
2008 $932 $685 $599 $606
2007 $885 $643 $573 $550
2006 $895 $664 $639 $636
2005 $869 $655 $581 $549

Fort Smith Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Fort Smith Arkansas was 6.01% according to Census ACS data.

Rental Vacancy Rate in Fort Smith Arkansas

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Arkansas 8.06% -0.44% -1.60%
Fort Smith, AR 6.01% -2.29% -2.73%

Trends in Fort Smith, AR Rental Vacancy Rate

The rental vacancy rate in Fort Smith peaked in 2014 at 12.11%. Since then it has fallen by 6.10% to 6.01%. Data records for this series originated in 2005.

Rental Vacancy Rate: Fort Smith AR, Arkansas, US

Rental vacancy rate in Arkansas

Historical Rental Vacancy Rate data for Fort Smith

Date US Arkansas Fort Smith, AR
2016 5.89% 8.06% 6.01%
2015 5.85% 8.50% 8.30%
2014 6.32% 9.60% 12.11%
2013 6.49% 9.66% 8.74%
2012 6.77% 9.13% 8.94%
2011 7.40% 10.00% 11.25%
2010 8.17% 10.46% 7.40%
2009 8.43% 10.48% 8.39%
2008 7.86% 9.53% 11.10%
2007 7.87% 8.73% 4.67%
2006 7.70% 8.03% 8.97%
2005 7.74% 9.52% 8.79%

Rent as a Fraction of Income

Using median household income data for Fort Smith, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fort Smith, median monthly gross rent as a fraction of median household income was 19.16% in 2016 according to the ACS.

Fort Smith Arkansas Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Arkansas 18.97% -0.89% -0.55%
Fort Smith, AR 19.16% +0.53% -0.10%

Trends in Fort Smith, AR Rent as a Fraction of Income

The fraction of median Fort Smith household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.62%. Since then it has fallen by 0.46% to 19.16%.

Fraction of Income towards Rent: Fort Smith AR, Arkansas, US

Percent of median household income going towards median monthly gross rent in Fort Smith Arkansas

Historical Data for Annual Rent as a Fraction of Income in Fort Smith Arkansas

Date US Arkansas Fort Smith, AR
2016 20.43% 18.97% 19.16%
2015 20.63% 19.86% 18.63%
2014 20.89% 19.86% 19.56%
2013 20.78% 19.52% 19.26%
2012 20.65% 19.15% 19.37%
2011 20.70% 19.78% 19.62%
2010 20.50% 19.99% 18.60%
2009 20.12% 19.23% 17.92%
2008 19.00% 18.74% 16.46%
2007 18.66% 18.03% 16.72%
2006 18.90% 18.56% 18.46%
2005 18.89% 18.82% 18.26%

Renter Fraction in Fort Smith Arkansas

You can calculate the renter fraction in Fort Smith in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Fort Smith as a fraction of total Fort Smith households. In 2016 35.15% of households were renters according to Census ACS data.

Fort Smith Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Arkansas 35.45% +0.62% +1.17%
Fort Smith, AR 35.15% +2.65% +1.88%

Trends in the Fort Smith, AR Renter Fraction

At 35.15%, the 2016 household based renter fraction in Fort Smith was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Fort Smith AR, Arkansas, US

Fraction of renters in Fort Smith

History of Fort Smith Renter Fraction

Date US Arkansas Fort Smith, AR
2016 36.88% 35.45% 35.15%
2015 36.97% 34.83% 32.50%
2014 36.90% 34.21% 31.33%
2013 36.50% 34.28% 33.27%
2012 36.09% 33.76% 31.70%
2011 35.42% 33.40% 32.05%
2010 34.65% 32.59% 29.65%
2009 34.13% 33.96% 30.55%
2008 33.36% 32.62% 32.15%
2007 32.80% 32.27% 33.61%
2006 32.73% 31.72% 30.05%
2005 33.10% 32.25% 32.31%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.