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Caraway

Learn about the people, housing, costs and businesses in Caraway, Arkansas

Median Home$112,600
Median Rent$610/month
Population1,049
Leading IndustriesConstruction · Agriculture & Mining13% construction
Home Value Growth+7.7% over 2 years
Young Adults28% of residentsnear the national average
Homeowners75% of occupied units
NotableAffordable Market$113k median home · lower cost than 87% of the country
Caraway
AR

Frequently Asked Questions

What are today's mortgage rates in Caraway?

As of today, the 30-year fixed mortgage rate for Caraway is approximately 6.992% (7.035% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Caraway?

The median home value in Caraway is $113k. The median monthly rent is $610. Annual property taxes average $683. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Caraway?

Home values in Caraway have increased 7.7% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Caraway?

Based on a typical all-in ownership cost of $549/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $24k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Caraway is $54k/year.

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What industries drive the economy in Caraway?

The largest employment sectors in Caraway are public administration (25%) and agriculture and mining (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.