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Often falling under the radar compared to other major cities in Arkansas, Bentonville is a hidden gem waiting to be uncovered. The county seat of Benton County and the tenth-largest city in Arkansas has intrigued many with its unique blend of historic charm and modern amenities. 

 

Located at the foothills of the Ozark Mountains, the city is surrounded by breathtaking views that remind us of the artistry of Mother Nature. With a rich history dating back to the 1830s, Bentonville has evolved from a small frontier town into a thriving city. The city's population has grown significantly recently, increasing by 53% from the 2010 census. Bentonville is regarded as one of the fastest-growing cities in Arkansas and one of the safest. 

 

Bentonville is renowned for being the birthplace of the giant retailer Walmart, which has significantly impacted the region's economy. Over the years, the city of Bentonville AR has seen remarkable growth and transformation but still has managed to preserve its small-town charm. 

 

Walmart indeed put Bentonville on the map, but there’s a lot more to the city than meets the eye. Besides benefiting from breathtaking surroundings and a beautifully preserved historic downtown, the city is a hub for business and innovation. This draws professionals and families from all over the state to enjoy the thriving community that Bentonville has become.

 

The local real estate agents in Bentonville AR, will gladly ease the process if you want to relocate to this charming city. Their market insights and real estate industry knowledge are invaluable resources that can make the transition smoother. Join us while we explore Bentonville's real estate market trends and why it has become such a desirable place for many. 

 

Real estate market trends in Bentonville, AR 

Before moving to a new place, a common concern is living costs. The cost of living In Bentonville aligns with the state’s average, and it’s 8% lower than the nation’s average. Despite being a relatively affordable city, the median household income in Bentonville is $98,809, much higher than the U.S. average of $74,580. It is one of the reasons why the city's housing demand increases yearly, and the population has seen significant growth. 

 

Another significant aspect to consider when moving to a new place is the price of the properties in the area. In August 2023, the median home sold price was $445,251, trending up 11.4% from the previous year. The median price paid per square foot was $198. The prices are slightly higher than the national average, but considering the incomes are considerably higher in the city, the difference is justified. In case you’re purchasing a home in Bentonville, expect to pay close to the asking price. 42% of the houses were sold near the asking price last month. 

 

The real estate market in Bentonville isn’t just about residential properties. The city has seen significant commercial development, with retail centers, office spaces, and other establishments emerging. For example, 8th Street Market has become a food and entertainment center, attracting locals and tourists. It means more investment opportunities in commercial real estate.   

 

The prices of properties have appreciated consistently over the years. The combination of limited housing inventory and high demand has increased costs. While this is excellent news for property owners and entrepreneurs, it can present challenges for first-time homebuyers looking for affordable options. 

 

To meet the growing demand for housing, Bentonville has seen an increase in new construction projects. Residential neighborhoods, apartment complexes, and luxury homes are being constructed to accommodate newcomers. Additionally, developers are integrating modern amenities and sustainable features, aligning with the city’s commitment to environmental sustainability. 

 

Why is Bentonville a desirable place to live?

Bentonville is one of the safest cities in Arkansas, with crime rates lower than the national average. The city has a violent crime rate of 1.4 per 1,000 residents, while the property crime rate is 17.54 per 1,000 residents. Feeling safe at home is essential for everyone, and it is one of the reasons why people are drawn to Bentonville. 

 

Any adult moving to a new city is interested in the job prospects that he has. One excellent thing about Bentonville is that it has a thriving job market. Besides Walmart, other major companies, like Tyson Foods and JB Hunt, call Bentonville home. It means various job opportunities for young professionals and anyone looking for a job. Additionally, Bentonville has seen an increase in the technology sector, with an 80% growth in STEM (Science, Technology, Engineering, or Math) positions. It makes it a desirable place for anyone interested in these fields. Bentonville is an excellent city to launch a career due to its economic development and growing population. 

 

Besides being a safe and economically thriving community, nature enthusiasts will have plenty of opportunities for outdoor adventures. Bentonville takes pride in being renowned as the “mountain biking capital of the world.” With more than 130 miles of trails in the city and 250 available in the surrounding Ozark Mountains, there’s always something to explore. The best part is that there are 16 beautiful parks spread across Bentonville, where you can find a respite from the hustle and bustle of the city. Orchard Parks is known for hosting 4th of July celebrations, while Lawrence Plaza is home to the renowned First Friday Movies in the Park festivities. 

 

The school system is a significant concern for families with children when moving to a new place. The Bentonville school system has more A-rated schools than any other city in the state. Based on graduation rates, test results, SAT and ACT scores, teacher preparedness, and other criteria, Niche.com has named the schools in Bentonville the best in the state. 

 

Bentonville doesn’t lack in cultural activities either. The historic Bentonville Square is home to various city events. There’s always something happening in the city, from live concerts to sporting tournaments. Bentonville Film Festival gathers celebrities nationwide yearly to celebrate new and emerging filmmakers. 

 

Art lovers are in for a treat in Bentonville. Crystal Bridges Museum of American Art showcases a wide range of contemporary art exhibits crafted by well-established artists. Founded by Alice Walton, the daughter of Walmart founder Sam Walton, the museum opened on 11 November 2011. 

 

Final thoughts

Bentonville’s real estate market has seen consistent growth and strong demand in recent years. Home prices have increased, making it a desirable location for investors. Factors such as the presence of major companies, a thriving local economy, and a high quality of life contributed to the growing population. However, before relocating to any place, it’s essential to stay informed about market conditions, as fluctuations could happen. Bentonville’s real estate market remains a promising and dynamic sector for those looking to buy, sell, or invest in property.

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