Rental market in Little Rock, AR? (I'm a beginner)

[Josh Lear]

Never owned property before. Might need to move to Arkansas and was curious what ppl think of the Little Rock, AR area for rentals? I'm also open to really any other relatively populated area in AR

What is the rental market like in Little Rock, AR?

- Avg cost to rent v Avg cost to own?

- Occupancy rates in that area?

or any other important info

Any advice helps. Thanks

[Alex Craig]

I own several in LR and my partner manages around 800 units. The rental market is very good.  Typically, we rent our homes in 45 days or less. Rents are much higher then what Zillow advertises if the quality of the product is good. When we started buying 6 years ago, we found the market starving for quality rentals. Our homes have granite, updated kitchen and baths, updates plumbing & lighting fixtures, vinyl plank flooring, new roofs, etc. IMO, Zillow estimates are low because a large majority of Little Rock rentals are owned by mom and pops who have not invested upgrades into their rental properties, rather they are renting out units that are dated. We typically get $200 to $300 over what Zillow says. Several investors and Turnkey companies have followed us into the market, thus making it more competitive today, then when we started, but the deals are still there.  The areas we have the most success are South LR, SW LR, Mid-Town/Broadmoor, Mabelvale, Sherwood, Maumelle, North LR, Richland Subdivision, Bryant, Alexander and a few other pockets. Landlord laws are good. MF is also good here. We have bought several MF units in distress that were managed poorly and been able to renovate and get rents up substantially.  Even if you do not move to LR, you may want to put on your radar.