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Elaine

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

Median Home$69,500
Median Rent$403/month
Population436
Leading IndustriesInformation & Media · Construction · Education14% information & media
Home Value Growth-5.4% over 2 years
Retirees24% of residentsslightly above average
Homeowners55% of occupied units
NotableAffordable Market$70k median home · lower cost than 98% of the country
NotableTransit80/100 · excellent transit access
Elaine
AR

Frequently Asked Questions

What are today's mortgage rates in Elaine?

As of today, the 30-year fixed mortgage rate for Elaine is approximately 7.625% (7.931% 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 Elaine?

The median home value in Elaine is $70k. The median monthly rent is $403. Annual property taxes average $461. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Elaine?

Home values in Elaine have decreased 5.4% over the past two years. Buyers may find more negotiating room in this market. 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 Elaine?

Based on a typical all-in ownership cost of $467/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $20k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Elaine is $34k/year.

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What industries drive the economy in Elaine?

The largest employment sectors in Elaine are public administration (19%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.