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Refinance Savings Calculator for Little Rock, AR
Local data pre-filled
With Little Rock's median home valued at $227,428 and a 0.63% property tax rate, refinancing could save you hundreds per month depending on your current rate. Calculate your break-even point and total savings for a Little Rock refinance.
✓ Calculator below is pre-filled with Little Rock local data
Data as of · Sources: Zillow, Census ACS, Tax Foundation, Freddie Mac
Arkansas Financial Snapshot (2026) — Refinance Savings Calculator
Home value, monthly carrying cost, property tax, and insurance are the four levers for the refinance savings calculator in Arkansas.
How the Refinance Savings Calculator Math Works Under Arkansas Law
Every real-estate number on this page runs through the same core identity: the monthly principal-and-interest payment on a fully amortizing fixed-rate loan is M = P · r / (1 − (1+r)^(−n)), where P is the loan principal, r is the monthly rate (annual rate / 12), and n is the term in months. For a typical Arkansas buyer in 2026, P starts from an $198,000 median home value (Zillow ZHVI)[1], minus a standard 20% down payment.
On top of P&I the calculator adds the two Arkansas-specific carrying costs: property tax at the state effective rate of 0.64%[2] and homeowners insurance at roughly $1,320/year (NAIC state average)[3]. The Freddie Mac PMMS national average 30-year fixed rate (6.30% (Freddie Mac PMMS · week of ))[4] drives the payment curve — Arkansas rate quotes can move a few basis points around that number depending on lender, loan size, and credit band.
Calc-specific note: Break-even months = closing ÷ monthly savings. If you plan to stay past that point, refi wins.
Local context: Little Rock, AR
Housing economics in Little Rock, AR. The median home value runs 36.5% below the U.S. baseline for Little Rock, AR is $227,428 per Zillow's home-value index. Median rent runs $1,209 a month per Zillow ZORI, cheaper than the national $1,850 baseline. Effective property tax sits at 0.63% of assessed value, below the 0.99% national average tracked by the Tax Foundation.
Income and tax climate. Arkansas's top marginal state income tax bracket lands at 4.90% — compared to the volume-weighted national average around 4-5%. BEA's Regional Price Parity scores Little Rock, AR at 85.0 (national = 100), meaning a dollar in Little Rock, AR buys 118¢ — more goods and services than the same dollar nationally.
Local context as of 2026-04-19.
Little Rock versus the U.S. baseline
| Metric | Little Rock, AR | U.S. baseline | Difference |
|---|---|---|---|
| Median home value[zillow] | $227,428 | $358,000 | -36.5% |
| Median monthly rent[zillow] | $1,209 | $1,850 | -34.6% |
| Property tax (effective)[tax-foundation] | 0.63% | 0.99% | -36.4% |
| State top marginal income tax[tax-foundation] | 4.90% | ~4.08% (volume-weighted) | 0.8 pp |
| State cost-of-living index[bea-rpp] | 85.0 | 100.0 | -15.0 pts |
How to use the Refinance Savings Calculator
Walk through using the Refinance Savings Calculator with Little Rock, AR-specific defaults pre-loaded from primary sources.
- Enter your Little Rock numbersFill in the refinance savings inputs. Defaults reflect Little Rock, AR 2026: median home $227,428, median rent $1,209/mo, 0.63% effective property tax.
- Apply the local 2026 inputsThe median home value in Little Rock is $227,428 (Zillow ZHVI), with median monthly rent running $1,209/mo.
- Compare against Little Rock contextMonthly PITI on the $227,428 median home in Little Rock is ~$1,539/mo — vs a $1,209/mo median rent.
How Arkansas Compares to Neighboring States
| State | Median home | Top inc tax | Prop tax rate | RPP (US=100) |
|---|---|---|---|---|
| Arkansas (this page) | $198,000 | 3.90% | 0.64% | 86.8 |
| Louisiana side-by-side | $215,000 | 3.00% | 0.55% | 88.7 |
| Mississippi equivalent | $182,000 | 4.40% | 0.79% | 86.8 |
| Missouri | $245,000 | 4.70% | 0.97% | 91.1 |
| check Tennessee | $325,000 | None | 0.71% | 92.1 |
Sources: Zillow ZHVI[1], state Departments of Revenue / Tax Foundation[2], Tax Foundation property taxes[3], BEA Regional Price Parities[4].
What Changes Your Result in Arkansas
- Down payment size:Arkansas's typical down payment is 7.0%according to NAR survey data. Every 5% shift changes the monthly P&I by roughly 5–6% of the headline payment.
- First-time buyer programs:Arkansas runs state-level first-time buyer programs (DPA, MCC) that can cut effective down payment costs by $5,000–$15,000 for qualifying buyers. See programs block below.
- County-level property tax variance:The state effective rate shown in the snapshot is a statewide weighted average. Within Arkansas, county rates can swing ±30% around the median, especially in border counties with differing school-district mill levies.
Related Calculations for Arkansas
- Arkansas's mortgage payment rules — refinancing changes the payment you calculated.
- heloc by Arkansas — cash-out refi vs HELOC is the same decision.
How Little Rock Compares to the National Average
Understanding how Little Rock stacks up helps you calibrate your financial planning.
| Metric | Little Rock, AR | US Average | Difference |
|---|---|---|---|
| Median Home Price | $227,428 | $420,800 | -46.0% |
| Median Monthly Rent | $1,209 | $1,713 | -29.4% |
| Median Household Income | $65,309 | $74,580 | -12.4% |
| Property Tax Rate | 0.63% | 1.10% | -42.7% |
| Cost of Living Index | 85 | 100 | -15.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Little Rock Financial Snapshot
- Population (Metro)
- 750,000
- Unemployment
- 3.8%
- Avg Commute
- 22 min
- Median Age
- 36.2
- Price-to-Rent Ratio
- 15.7x
- Annual Property Tax
- $1,433
More Financial Calculators for Little Rock, AR
Refinance Savings Calculator in Other Arkansas Cities
Frequently Asked Questions — Little Rock
- Can median-income households afford the median home in Little Rock?
- With a ~$1,539 monthly PITI and $65,309 median income, housing would consume ~28.3% of gross annual income. Qualifying under the 28% DTI rule requires ~$65,957 in annual income. Educational reference only.
- Is it better to rent or buy in Little Rock?
- Little Rock's price-to-rent ratio (15.7x) is roughly neutral — in the 15-20x range the decision depends on time horizon and wealth goals.
- What is the annual property tax bill on the median home in Little Rock?
- Approximately $1,433/yr at the 0.63% effective rate on the $227,428 median home. The national average effective rate is 1.07%.
- What share of median income goes to rent in Little Rock?
- The $1,209/mo median rent represents 22.2% of the $65,309 median household income. The recommended housing cost threshold is 30%; Little Rock falls within that guideline. Educational reference only.
- How much does commuting cost in Little Rock?
- Average commute time in Little Rock is 22 minutes per ACS. Estimated annual commute cost runs about $3,832. Educational reference only.
- How does the cost of living in Little Rock compare to the national average?
- Little Rock's BEA RPP index is 85, 15% below the national baseline of 100. For a household earning the national median income of $77,540, this translates to ~$11,631/yr in purchasing power difference. Educational reference only.
- What is the median home price in Little Rock, AR?
- The median home price in Little Rock is $227,428 as of 2025–2026.
- What is the average rent in Little Rock?
- The median monthly rent in Little Rock, AR is $1,209.
- Does the refinance savings replace professional advice?
- No. This calculator gives educational estimates using public Little Rock data and standard formulas. It is not personalized tax, legal, or investment advice. Consult a licensed professional for decisions with material consequences.
Arkansas State Context
Arkansas Real Estate Tips
Arkansas has the 5th-lowest median home price in the nation at $275,000 — ideal for first-time buyers building equity quickly.
The Arkansas Development Finance Authority (ADFA) offers down payment assistance of up to $15,000 for qualifying buyers.
Property taxes at 0.62% are well below the national average, keeping annual housing costs low.
Arkansas is a non-judicial foreclosure state — lenders can foreclose without going to court, so stay current on payments.
Arkansas Homebuyer Programs
- ✓ADFA Down Payment Assistance (DPA) — up to $15,000 as a second mortgage at 0% interest, forgivable after 5 years.
- ✓ADFA Mortgage Credit Certificate — tax credit of up to 50% of mortgage interest paid annually.
- ✓USDA Rural Development Loans — most Arkansas counties qualify for 0% down payment financing.
Statewide Arkansas figures apply broadly across Little Rock. County- and city-level variation can be significant — verify against local sources before closing a transaction. [3]
How we compute this — methodology
The Little Rock page uses local median home price ($227,428), median rent ($1,209/mo), and property tax rate (0.63%) alongside the calculator's client-side formula. Calculations run in your browser — no inputs are sent to a server.
Known limits: ZIP-level variance within Little Rock can be substantial — the figures shown are city-wide medians. For a precise property tax quote, consult your county assessor.
Sources
- Zillow Research — ZHVI (Zillow Home Value Index) + ZORI (Zillow Observed Rent Index), city-level. zillow.com/research/data. Retrieved 2026-04-19.
- U.S. Census Bureau — American Community Survey (ACS) 5-year estimates for median household income and population. census.gov/programs-surveys/acs.
- CalcFi state financial context — tips + first-time homebuyer programs compiled from each state's Housing Finance Authority (HFA) public pages. See
src/data/state-financial-context.ts. - Tax Foundation — state property tax effective rates and state/local sales tax rates. taxfoundation.org.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rate averages used by mortgage-related calculators. freddiemac.com/pmms.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rates — www.freddiemac.com/pmms. Retrieved 2026-04-19.
- NAIC Dwelling Fire, Homeowners Owners, and Homeowners Tenants Insurance Report — content.naic.org/article/homeowners-insurance-report. Retrieved 2026-04-19.
- State Departments of Revenue — official bracket + deduction publications (one primary URL per state; linked in the brackets table below) — taxfoundation.org/data/all/state/state-income-tax-rates. Retrieved 2026-04-19.
- Bureau of Economic Analysis — Regional Price Parities by State — www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area. Retrieved 2026-04-19.
- U.S. Department of Labor — State Minimum Wage Laws — www.dol.gov/agencies/whd/minimum-wage/state. Retrieved 2026-04-19.
- FRED (Federal Reserve Economic Data) — real median household income, unemployment, HPI, LFPR per state — fred.stlouisfed.org. Retrieved 2026-04-19.
- BLS Occupational Employment and Wage Statistics (OEWS) — state-level occupational wages — www.bls.gov/oes. Retrieved 2026-04-19.
Spot an error? Email [email protected] with the URL and the correct figure.
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National reference: Refinance Savings Calculator