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City Report · AR

Greenwood

Pop. 9,616·23rd most expensive in Arkansas·One of the most affordable rental markets in the US
Median rent (all units)
$1,200/mo
Year-over-Year
Stable
Month-over-Month
-1.1%
vs US Median
-$765
Falling (Monthly)
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Most AffordableMost Expensive
Greenwood · $1,200
More affordable than 92% of US cities · National median $1,965/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,200/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$48,000/yr
Local median income
$66,844/yr
Based on the 30%-of-income rule using Greenwood's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$700
1 BR
$710
2 BR
$930
3 BR
$1,260
4 BR+
$1,530
Research median
$930/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$14,400/yr
At $1,200/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -1.1% MoM), not inventory.
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Demographics

Who lives here

Greenwood, AR is majority owner-occupied, has a large share of families with children, 28.5% of residents hold a bachelor's degree or higher.

Population
9,616
Median income
$66,844
Median age
38.6
Renters
25.6%
Age distribution
25.9%
19.4%
24.5%
19.8%
Under 1825.9%
18–3419.4%
35–5424.5%
55–6410.4%
65+19.8%
Gender
47.3%
52.7%
Male47.3%
Female52.7%
Race & ethnicity
85.7%
White85.7%
Black0.5%
Hispanic7.7%
Asian1.7%
Other4.4%
Education (25+)
32.6%
32.4%
28.5%
No HS diploma6.5%
HS diploma32.6%
Some college32.4%
Bachelor's+28.5%
Housing tenure
74.4%
25.6%
Owner74.4%
Renter25.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Greenwood, AR has changed in 5 years

Income
$57,837 → $66,844
up 15.6%
Population
9,498 → 9,616
up 1.2%
Renter share
26.4% → 25.6%
-0.8 pts
Bachelor's+
25.6% → 28.5%
+2.9 pts
Median age
36.4 → 38.6
+2.2 yrs

On the earnings side, the typical household in Greenwood, AR now reports about $66,844, up from $57,837 in 2021. Headcount in the area went from 9,498 to 9,616 between 2021 and 2024, a 1.2% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 25.6% to 28.5%.

Community

Discussions about Greenwood

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View Greenwood rent history (2015–2026) →
Salary vs rent

Can you afford rent in Greenwood on your salary?

At $1,200/mo, how Greenwood rent compares to typical pay (30% rule).

By apartment size

Greenwood rent by bedroom count

Median rent for each apartment size in Greenwood. Click any size for full breakdown.

Local insights

Tips for renters in Greenwood

About renting in Greenwood, AR

Last updated: July 20, 2026

The median rent in Greenwood is $1,200/mo as of July 2026. A studio apartment averages $700/mo while a 2-bedroom runs $930/mo. One-bedroom apartments average $710/mo and 3-bedroom units go for $1,260/mo.

At 22% of local median household income ($66,844/yr), Greenwood ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Greenwood an affordable city for renters?

Greenwood is considered very affordable for renters. At $1,200/mo, rent takes approximately 22% of the local median household income ($66,844/yr). The standard benchmark is 30%. Greenwood falls comfortably within that range.

How much income do you need to rent in Greenwood?

To keep rent at or below 30% of gross income, you would need to earn at least $48,000/year (~$23/hour full-time) to afford the median rent of $1,200/mo in Greenwood. The local median household income is $66,844/yr, meaning the typical Greenwood household meets that threshold.

Is rent going up or down in Greenwood?

Rent in Greenwood has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Greenwood rent compare to other cities in Arkansas?

Greenwood is one of the more affordable cities in Arkansas for rent, ranking #23 out of 34 tracked cities at $1,200/mo.

Which nearby cities are cheaper to rent in than Greenwood?

Several nearby cities have lower median rents than Greenwood ($1,200/mo): Van Buren ($1,019/mo), Barling ($1,026/mo), Fort Smith ($1,071/mo).

What percentage of Greenwood residents rent vs. own?

According to Census data, approximately 25.6% of Greenwood households are renters, while 74.4% are owner-occupied. Greenwood leans toward homeownership, which can mean a smaller rental inventory.

How does Greenwood rent compare to the national average?

Greenwood's median rent of $1,200/mo is $765 (39%) below the US national median of $1,965/mo. Within Arkansas, it ranks #23 out of 34 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,200/mo, rent takes ~22% of Greenwood's median household income ($66,844/yr). The standard benchmark is 30%.

Greenwood 22%Benchmark 30%
State income tax3.9%
Run the Greenwood affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Greenwood, AR

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