Can You Afford to Buy a Home in Fort Smith?
The median home in Fort Smith costs $160,100. To afford it at current mortgage rates with 20% down, you need a household income of about $46,586/year. Your monthly payment would be around $1,087, including taxes and insurance.
Based on national median home values adjusted by Fort Smith’s Regional Price Parity (85.89). Current 30-year fixed rate: 6.52% (Freddie Mac, as of Jun 11, 2026). Methodology
Sponsored links, AffordMap may earn a commission at no cost to you. Learn more
Monthly payment breakdown
$160,100 home, 20% down, 6.52% rate, 30-year fixed
Rent vs. buy in Fort Smith
Buying costs $150/mo more than renting, but you build equity. Over 5 years at current appreciation rates, homeowners in similar markets have gained significant equity.
What can you afford in Fort Smith?
Home price you can afford at each salary level (28% DTI, 20% down)
| Salary | Home you can afford | Monthly payment |
|---|---|---|
| $50K | $176K | $1,087 |
| $75K | $291K | $1,087 |
| $100K | $406K | $1,087 |
| $125K | $521K | $1,087 |
| $150K | $636K | $1,087 |
| $200K | $867K | $1,087 |
Based on 28% front-end DTI ratio, 20% down payment, 6.52% 30-year fixed rate, 1.1% property tax, ~$150/mo insurance.
Can common careers afford a home in Fort Smith?
Local median salary vs. the $47K needed to buy
Frequently asked questions
What salary do I need to buy a home in Fort Smith?
To comfortably afford the median home ($160,100) in Fort Smith with a 20% down payment and current mortgage rates, you need a household income of about $46,586. That keeps your housing costs at or below 28% of your gross income, which is the standard lender guideline.
How much does a house cost in Fort Smith?
The median home price in the Fort Smith, AR-OK metro area is $160,100, based on the Census ACS 2023 median home value for the metro. Prices vary widely by neighborhood. A 20% down payment would be $32,020, or $8,005 at 5% down.
What would my monthly mortgage be in Fort Smith?
On a $160,100 home with 20% down at current rates, your estimated monthly payment would be $1,087 including principal, interest, property tax, and insurance. With only 5% down, add about $63/mo for PMI.
Is it cheaper to rent or buy in Fort Smith?
Median 2-bedroom rent in Fort Smith is $937/mo (HUD Fair Market Rent). The estimated mortgage payment on the median home is $1,087/mo. Buying costs more per month, but you build equity over time.