Rent vs Buy in Fort Smith, AR
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Fort Smith, AR
Price-to-rent ratio is 18.2 (under 15 favors buying, over 21 favors renting). Renting costs $910/mo; owning runs about $1,480/mo — $570/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,051 |
| Property tax | $182 |
| Home insurance | $83 |
| Maintenance | $165 |
| Total to own | $1,480 |
| Average 2BR rent | $910 |
Based on a median home value of $198,396 with a $39,679 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.