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Hermitage

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

Median Home$689,442
Median Rent$1,832/month
Population1,201,547
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services20% healthcare
Home Value Growth+7.9% over 2 years
Young Adults40% of residentstop 1% nationally
Renters52% of occupied units
NotableHighly Educated29% bachelor's · 15% graduate · top 6% nationally
NotableHigh Incomes$109k/year · top 9% nationally
Hermitage
AR

Frequently Asked Questions

What are today's mortgage rates in Hermitage?

As of today, the 30-year fixed mortgage rate for Hermitage is approximately 6.819% (6.852% 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 Hermitage?

The median home value in Hermitage is $689k. The median monthly rent is $1,832. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hermitage?

Home values in Hermitage have increased 7.9% 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 Hermitage?

Based on a typical all-in ownership cost of $1,948/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $83k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hermitage is $109k/year.

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What industries drive the economy in Hermitage?

The largest employment sectors in Hermitage are public administration (21%) and healthcare (20%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.