Quick facts: Conway, AR

Quick Facts

92.7
Cost of Living
below US average
67,617
Population
32.15
Crime Rate per 1000
above US average
$54,036
Median Income
below US average
$267,900
Median House Price
above US average
$1486.43
Average Rent
above US average
12%
Poverty Rate
above US average
3.2%
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 $54,036.

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Income Needed to Buy

βœ— Stretch
$84k/year
Based on $267,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $84k vs median $54,036
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Income Needed to Rent

⚠ Stretch
$64k/year
Based on $1486.43/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $64k vs median $54,036
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Conway, AR

Conway, Arkansas, located in Faulkner County, is a vibrant city with a rich blend of culture, education, and community spirit. Known as the "City of Colleges," Conway is home to several institutions, including the University of Central Arkansas, Hendrix College, and Central Baptist College, contributing to its youthful atmosphere and diverse population. With its strategic location along Interstate 40, Conway provides easy access to Little Rock, the state capital, which is just 30 miles to the southeast. The city boasts a variety of recreational parks, nature trails, and the serene Beaver Fork Lake, making it a great spot for outdoor enthusiasts. Conway has a bustling downtown area full of local shops, eateries, and cultural events, creating a charming small-town feel with modern amenities. The city also hosts annual events, such as the Toad Suck Daze festival, celebrating its local heritage and community spirit. Overall, Conway offers a blend of educational opportunities, outdoor activities, and a strong sense of community, making it an appealing place to live and visit.

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