GrowthSaturday, November 14
Northwest Arkansas leaders say growth data points to 1 million residents by 2050
The Daily Bentonville team
If you're curious where the region is headed, Friday's last day of the Place Summit in Fayetteville brought numbers. Dan Smith of Colliers Arkansas said Northwest Arkansas has an estimated 622,000 residents and is expected to have 1 million by 2050. The three-day conference, now in its fifth year, is hosted by the Northwest Arkansas Urban Land Institute.
Northwest Arkansas added roughly 15,000 people in the latest year
- 622,000
- estimated residents in Northwest Arkansas
- 1 million
- residents expected by 2050
- 15,000
- people added in the most recent year, roughly
- 5,300
- new housing units needed each year
Source: The Arkansas Democrat-Gazette
Smith said the region needs about 15 new housing units a day to keep up. Median monthly rent is $1,222, below the national $1,444. Centerton, at nearly 30,000 residents, is planning a new town center after its council unanimously approved the Downtown Master Plan in September.
- Median home value: roughly $375,000
- Housing inventory: about five months, first time since 2015
- Daily growth: 32 from migration, eight from natural growth
“We don't want to be just the bedroom. We want to be the whole house.”
Northwest Arkansas household income tops the nation's while rent runs lower
| Northwest Arkansas | Measure | U.S. |
|---|---|---|
| $100K | Median household income | $85,000 |
| $1,222 | Median monthly rent | $1,444 |
Source: The Arkansas Democrat-Gazette
Sources: The Arkansas Democrat-Gazette, nwaonline.com