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Fort Smith, AR mortgage & affordability calculator

The typical home in Fort Smith, AR is worth about $180,000. With 20% down that's a loan near $144,000 — the calculator is pre-filled with that figure. Fort Smith sits on the Arkansas-Oklahoma border and has rebuilt its manufacturing base — poultry processing and steel among the largest employers — after the closure of Whirlpool's plant in 2012. Home prices remain among the most affordable in the region, with Arkansas's low property tax rate applying as it does statewide.

$934.94 / month

Total interest
$192,577
Total paid
$336,577
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$36k$72k$108k$144k0612182430Year

How much you need to earn

Fort Smith, AR's median household income is about $55,000 a year. Under standard 28/36 lending rules that supports a home price around $185,272 with 20% down — comfortably above the $180,000 typical price.

$185,283 max home price

Max loan amount
$149,283
Housing payment budget
$1,283
P&I budget
$969
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Fort Smith, AR is about $950 a month, so owning the median home costs roughly $299 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Fort Smith, AR?
On the metro's roughly $180,000 typical home with 20% down, the loan is about $144,000. Principal and interest run near $935 a month at today's rate, and Fort Smith, AR's property tax plus insurance add about $314, for a full payment near $1,249.
Can I afford a home in Fort Smith, AR on the median income?
The median household income is about $55,000 a year. Under standard 28/36 lending rules that supports a home price around $185,272 with 20% down — above the $180,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Fort Smith, AR?
Typical asking rent is about $950 a month. The full owner payment on a median home is near $1,249, so owning costs roughly $299 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Fort Smith, AR?
The effective property tax rate in the core county is about 0.65% of market value — roughly $1,170 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Fort Smith, AR rising or falling?
Home values are up about 4% over the past year. Fort Smith sits on the Arkansas-Oklahoma border and has rebuilt its manufacturing base — poultry processing and steel among the largest employers — after the closure of Whirlpool's plant in 2012. Home prices remain among the most affordable in the region, with Arkansas's low property tax rate applying as it does statewide.

Nearby metros

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