Quick facts: Mayflower, AR

Quick Facts

92.7
Cost of Living
below US average
2,052
Population
37.04
Crime Rate per 1000
above US average
$56,216
Median Income
below US average
$255,000
Median House Price
above US average
$1033.33
Average Rent
below US average
10%
Poverty Rate
below US average
4.5%
Unemployment Rate
above 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 $56,216.

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Income Needed to Buy

βœ— Stretch
$80k/year
Based on $255,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $80k vs median $56,216
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Income Needed to Rent

βœ“ Affordable
$44k/year
Based on $1033.33/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($56,216) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mayflower, AR

Mayflower is a charming city located in Faulkner County, Arkansas. Nestled along the banks of the Arkansas River, it offers a picturesque setting blended with small-town charm. The city is part of the Little Rock-North Little Rock-Conway Metropolitan Area, making it an appealing location for those who enjoy a quieter lifestyle while still being close to the amenities of larger cities. Mayflower is known for its friendly community, and it hosts several local events throughout the year, including festivals and farmers' markets, which showcase local artisans and produce. Outdoor enthusiasts will appreciate nearby recreational opportunities, with access to parks, nature trails, and the river for fishing and boating. The city's proximity to Little Rock allows residents to enjoy a wide range of shopping, dining, and cultural attractions, including museums and theaters. Mayflower also has a variety of local schools, making it a suitable place for families. With its blend of natural beauty, community spirit, and convenient access to urban amenities, Mayflower is a delightful place to live, work, and explore in Arkansas.

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