Quick facts: Bay, AR

Quick Facts

92.7
Cost of Living
below US average
1,827
Population
14.78
Crime Rate per 1000
below US average
$58,036
Median Income
below US average
$204,400
Median House Price
above US average
$1228
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,036.

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Income Needed to Buy

βœ— Stretch
$64k/year
Based on $204,400 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $64k vs median $58,036
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Income Needed to Rent

βœ“ Affordable
$53k/year
Based on $1228/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($58,036) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bay, AR

Bay is a small city located in the northeastern part of Arkansas, within Craighead County. As of the last census, Bay has a population of around 1,800 residents, exhibiting a close-knit community vibe. The city is part of the larger Jonesboro metropolitan area, providing residents access to urban amenities while maintaining a rural charm. Bay is known for its peaceful environment and scenic views, featuring parks and open spaces that promote outdoor activities. The nearby Cache River and agricultural landscapes offer opportunities for fishing, hiking, and enjoying nature. The local school system is well-regarded, fostering education in a supportive atmosphere. The economy of Bay primarily revolves around agriculture and small businesses, with residents commuting to nearby Jonesboro for employment. The city hosts various annual events and community gatherings that reflect its vibrant culture and promote community spirit. Overall, Bay is a quaint place to live, characterized by friendly residents, a strong sense of community, and proximity to larger urban resources.

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