Why is Arkansas Real Estate so cheap?
Hi all, I've been looking into warmer states to start investing in, and one of the spots I've taken into interest is Arkansas. I started doing a little market research and found that It's overall a pretty cheap place to live, does anyone have any idea why that would be? I'm aware that it's no CA, or WA, but its a beautiful place to live, with a decent climate. Any thoughts?
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Arkansas is not a wealthy state. This is a factor. Some areas are attracting a number of part time residents who own vacation homes, many of which are priced out of reach of the majority of residents. Arkansas is very seasonal -horse racing Jan. to May, lakes June to Sept. Not much is year-round. Therefore, the natives can’t afford high end houses. Wages are among the lowest in the country. Inflation is minimal and prices are pretty flat, no more than 1% per year.