Jonesboro, AR Rent To Own Homes

Rent-to-Own Homes in Jonesboro, AR: What You Need to Know

Once a sleepy railroad town, Jonesboro is now the thriving cultural, economic, and healthcare hub of Northeast Arkansas. The city’s revitalized downtown area features lively restaurants, entertainment venues, and antique shops. Jonesboro’s rich history, family-friendly vibe, and numerous leisure activities make it a great place to live, work, and play. 

Cost of Living in Jonesboro 

A huge draw, Jonesboro’s cost of living runs 20% below the national average with reasonable housing, transportation, and utility costs leading the way. Craighead County’s sales tax rate is 8.5%, while Arkansas has a state income tax rate of 6.9%. Due to the area’s recent growth, Jonesboro real estate prices are trending about 24% higher than the state’s average in early 2021. 

Rent-to-Own Housing Market 

Although residential real estate values in Jonesboro have appreciated 45% since 2000, the median home price is still a reasonable $150,356. Single-family homes or townhomes account for two-thirds of all residential properties, and over 50% are renter-occupied. The average monthly rent for a single-family home runs around $980. Most rent-to-own homes have 2 or 3 bedrooms, while 17% have 4+ bedrooms. Homes built after 2000 account for 31% of the housing market, while those built between 1970 and 1999 represent half. 

Know Your Jonesboro Neighborhoods

Every Jonesboro neighborhood is a unique blend of history, housing options, and community pride. Some of the most popular communities include City Center, Valley View/Gilkerson, and Arkansas State U-Main Campus. 

City Center is a college student-friendly neighborhood located within walking distance of restaurants, shops, and art and music hotspots. Most of the single-family homes there date from 1940 to 1999. 

Valley View/Gilkerson is ideal for married couples with children. Most of the rental homes have 3 to 5 bedrooms and were built after 2000. This family-friendly neighborhood is known for its low crime rate, clean parks, and good schools. 

Arkansas State U-Main Campus neighborhood projects a young, hip vibe, while 95% of the properties are renter-occupied. Most amenities are within walking distance, and the community’s above-average safety rating is a definite selling point. 

Employment Opportunities in Jonesboro 

With a below national average unemployment rate, Jonesboro’s job market growth should remain strong over the next decade. While earning a per capita income of $24,779, many residents work in health care, education, manufacturing, and retail. Major employers around Jonesboro include St. Bernard’s Healthcare, Arkansas State University, and NEA Baptist Health Systems. 

Local History

Settled in the early 1800s by trappers and traders, by 1900 Jonesboro had become a busy railroad hub connecting St. Louis to points in Texas and Arkansas. That same year, St. Bernard’s Regional Medical Center was born. In 1909, Arkansas State University was started on Crowley’s Ridge. Today, major area attractions include The Mall at Turtle Creek, Craighead Forest Park, and Bradbury Art Museum.