Oak Forrest, a neighborhood in Jonesboro, Arkansas, demonstrates a remarkably stable housing market with consistently high homeownership rates and steadily increasing property values. From 2013 to 2022, the area maintained a homeownership rate above 96%, despite a slight decline from 97% to 96% over this period. This minor decrease coincided with a substantial increase in average home prices, which rose from $218,090 in 2013 to $319,019 in 2022, representing a 46.3% increase. The resilience of homeownership rates in the face of rising property values suggests a strong preference for homeownership in Oak Forrest.

Federal interest rates have influenced homeownership trends in the neighborhood. In 2013, when homeownership peaked at 97%, the federal interest rate was 0.11%. As interest rates gradually increased to 1.68% by 2022, there was a slight decline in homeownership to 96%. This relationship aligns with the general trend of lower interest rates encouraging homeownership due to more affordable financing options.

The rental market in Oak Forrest has remained relatively small but showed some growth, with the renter population increasing from 2% in 2013 to 4% in 2022. Average rent prices fluctuated during this period, starting at $1,750 in 2013 and remaining stable until 2018. However, there was a decrease to $1,524 in 2019, followed by a further drop to $1,226 in 2020, which remained constant through 2022. This decline in rent prices occurred despite the slight increase in the renter population, possibly influenced by broader economic factors or local market conditions.