Businesses flood into Arkansas, transforming the state's economy overnight

Arkansas has witnessed significant growth and transformation over the last half-century, establishing itself as a hub for major corporations such as Walmart, Tyson Foods, Murphy USA, J.B. Hunt, and Dillard's. As a result of this economic development, the socio-economic landscape has changed dramatically from where it was decades ago. In November 2024, the Zillow home value index analyzed thousands of ZIP codes across Arkansas to identify the most expensive ones. Overall, the analysis included 305 ZIP codes, and the findings reveal that factors like median household income and home value significantly influence the ranking of these ZIP codes. The top five most expensive ZIP codes include 72718, 72712, 72713, and 72732. The No. 1 spot is held by the ZIP code 72718, encompassing Cave Springs. This location is strategically positioned amidst an arc of cities that include Bentonville, Rogers, and Fayetteville, making it a crucial center for corporate activity and business. The area's impressive median household income of $141,404, alongside an average household income of $162,939, contributes to its status as a desirable region for homeowners. The second-most expensive ZIP code, 72712, is based in Bentonville, home to Walmart's headquarters. Here, local residents benefit from a healthy income level that supports the area's home values. Although the home value appreciation rate from November 2019 to November 2024 was slower compared to some other ZIP codes, this area still ranks high due to its solid income-to-home-value ratio. In the fourth position is ZIP code 72713, which partially covers Bentonville as well. Home values here have surged by 71.3% from a median of $266,874 in November 2019 to $457,216 in November 2024. Homeowners in this ZIP code enjoy the advantage of robust income levels compared to median home values. Contrarily, ZIP code 72732, the fifth-most expensive option, showcases a contrasting income level with a median household income of $68,548 and an average household income of $98,023, leading to a significant gap between income and home values that soared by 80.8% during the analyzed period.