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Payneway

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

Median Home$109,900
Median Rent$672/month
Population227
Leading IndustriesManufacturing · Finance & Insurance · Information & Media4% manufacturing
Home Value Growth⬆⬆⬆+22.1% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners79% of occupied units
NotableAffordable Market$110k median home · lower cost than 88% of the country
Payneway
AR

Frequently Asked Questions

What are today's mortgage rates in Payneway?

As of today, the 30-year fixed mortgage rate for Payneway is approximately 7.381% (7.434% 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 Payneway?

The median home value in Payneway is $110k. The median monthly rent is $672. Annual property taxes average $414. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Payneway?

Home values in Payneway have increased 22.1% 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 Payneway?

Based on a typical all-in ownership cost of $605/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $26k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Payneway is $50k/year.

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What industries drive the economy in Payneway?

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