27-05-2025
‘Action needed' calls report to address housing issues in Northwest Arkansas
FAYETTEVILLE, Ark. (KNWA/KFTA) — A report from the Walton Family Foundation has found increases in renting and housing in Northwest Arkansas, and calls for action in a Tuesday news release.
An updated report of 'Our Housing Future' shows that there has been a nearly 50% rise in median rent for multifamily housing and a 70.9% increase in home prices in Bentonville, Fayetteville, Rogers, and Springdale.
'Northwest Arkansas continues to face a growing housing challenge,' the release states.
The 2019 report revealed that household income growth has not kept pace with rising rent and home prices in three of the four largest cities. Consequently, nearly 2,500 people, including over 1,000 children, lack permanent housing on any given night.
Today, it is estimated that the region needs to have 9,300 rental units for low-income residents, up from the 7,100 estimated in 2019.
Nearly 30,000 residents have to spend more than 30% of their income on housing costs. Fewer people's incomes were affected in 2019.
'While progress has been made in some areas, the challenges outlined in 2019 have only grown,' said Robert Burns, director of the Walton Family Foundation's Home Region Program. 'Our region is at an important juncture, requiring action to ensure affordable and accessible housing for all residents.'
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The foundation is listing five action plans to help create affordable homes in the area.
Establishing a regional housing vision including smaller, rapidly growing towns outside the four major cities – Bentonville, Fayetteville, Rogers and Springdale.
Creating a housing trust fund
Utilizing publicly owned land
Leveraging federal and state funding
Introducing development incentives to address the housing shortfall
The area is at risk of losing 3,233 subsidized housing units by 2040 due to expiring federal subsidies, the report states.
Housing authorities in the region still have long waitlists for housing assistance programs, totaling 472 in Siloam Springs (Benton County) and 304 in Springdale, leading the Springdale Housing Authority to close its waiting list. Per publicly available reports, the utilization of housing choice vouchers has decreased over the last five years. Local housing officials say public housing authorities are struggling to place families in units with low enough rents to qualify for federal voucher programs.
Our Housing Future report states.
Since 2019, cities have not offered any incentives to increase affordable housing in the area. The report states that there has been a 'lack of any regionwide housing policies and has limited housing policies at the municipal level.'
Northwest Arkansas is expected to exceed 1 million by 2050, making it one of the 20 fastest-growing metro areas in the nation.
'Safe and affordable housing is critical infrastructure, essential to preserving the quality of life that makes Northwest Arkansas unique,' said Burns. 'Housing is a cornerstone of community stability and economic prosperity, and regional leaders will need to work together to adopt bold, collaborative measures to secure a sustainable future.'
Read the full report here.
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