Quick facts: Booneville, AR

Quick Facts

92.7
Cost of Living
below US average
3,803
Population
32.61
Crime Rate per 1000
above US average
$46,182
Median Income
below US average
$75,000
Median House Price
above US average
$1150.0
Average Rent
below US average
15%
Poverty Rate
above US average
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,182.

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Income Needed to Buy

βœ“ Affordable
$24k/year
Based on $75,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($46,182) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$49k/year
Based on $1150.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $49k vs median $46,182
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Booneville, AR

Booneville, Arkansas, is a charming small town located in the western part of the state, within Logan County. Nestled near the Ozark Mountains, it is known for its picturesque landscapes and welcoming community. With a population of just over 4,000 residents, Booneville boasts a tight-knit atmosphere and a rich local history, often celebrated through various festivals and community events. The town offers a blend of outdoor recreational activities, such as hiking, fishing, and camping, thanks to its proximity to the Ozark National Forest and the scenic Arkansas River. Booneville is also home to the historic downtown area, featuring quaint shops, local eateries, and unique architecture that reflects its heritage. Education is provided by the Booneville School District, with options for both primary and secondary schooling. The town has a local economy centered around agriculture, retail, and service industries. Booneville serves as a great example of small-town living, with a focus on family values and community involvement, making it an appealing place for those looking to escape the hustle and bustle of larger cities.

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