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McRae

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

Median Home$94,000
Median Rent$757/month
Population631
Leading IndustriesEducation · Arts, Food & Hospitality · Wholesale Trade5% education
Home Value Growth⬆⬆+17.4% over 2 years
Retirees25% of residentsabove average nationally
Homeowners75% of occupied units
NotableAffordable Market$94k median home · lower cost than 94% of the country
McRae
AR

Frequently Asked Questions

What are today's mortgage rates in McRae?

As of today, the 30-year fixed mortgage rate for McRae is approximately 6.838% (6.872% 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 McRae?

The median home value in McRae is $94k. The median monthly rent is $757. Annual property taxes average $479. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in McRae?

Home values in McRae have increased 17.4% over the past two years. This indicates a strong appreciation trend. 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 McRae?

Based on a typical all-in ownership cost of $648/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $28k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in McRae is $62k/year.

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What industries drive the economy in McRae?

The largest employment sectors in McRae are public administration (22%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.