Average Rental Price for 1143SqFt Home in 72450: A Comprehensive Guide

If you want to rent a home in the 72450 ZIP code, particularly one around 1,143 square feet in size, understanding the local rental market is vital to making an informed decision. The ZIP code 72450 includes the city of Paragould, Arkansas, a small-town charm that offers both affordability and convenience. This article provides an in-depth look at the average rental price for homes of this size in the area and examines the factors influencing these rates, giving you a complete understanding of what to expect.

Overview of the 72450 Rental Market

Paragould, Arkansas, is located in the state’s northeast corner and is part of Greene County. The city has experienced moderate population growth thanks to its appeal to families, professionals, and retirees who prefer a more relaxed lifestyle with access to basic amenities. The cost of living in Paragould is notably lower than in nearby larger cities like Jonesboro and Memphis, making it a popular choice for those seeking value for money in housing.

Renters can expect to pay between $800 and $1,100 monthly for homes around 1,143 square feet. This range positions Paragould as one of the more affordable rental markets in the region, offering a fantastic balance between price and quality of life.

Why 1,143 Square Feet?

A 1,143-square-foot home is typical for small families, couples, or individuals who need a bit more space than an apartment can offer but don’t require the size of a large house. This square footage often includes 2 to 3 bedrooms and 1 to 2 bathrooms, making it an ideal choice for a functional yet manageable living space.

Factors Affecting Rental Prices in 72450

Several factors influence the rental price of homes in Paragould and the surrounding 72450 ZIP code. By understanding these, renters can better anticipate costs and make informed choices.

Location

Even within a small town like Paragould, location can play a significant role in determining rental prices. Homes closer to local amenities such as schools, shopping centres, and healthcare facilities are more expensive. Neighborhoods with lower crime rates and better infrastructure also attract higher rental prices.

For example, homes in well-maintained subdivisions or those near Paragould’s town centre may be priced closer to $1,100 per month, while properties on the outskirts of town or in more rural areas may start at around $800 per month.

Property Condition and Age

Other essential factors are the condition and age of the rental home. Newly constructed homes or recently renovated properties with modern amenities such as updated kitchens, energy-efficient windows, and high-end flooring typically command higher rents. On the other hand, older homes that may need minor repairs or lack certain modern features may be on the lower end of the pricing range.

Renters should also be aware that homes in better condition often have fewer maintenance issues, which could save them money in the long run, even if the upfront rent is higher.

Supply and Demand

Even in small towns like Paragould, rental markets are susceptible to fundamental economic factors such as supply and demand. If there are few available homes, especially ones that are well-maintained and in desirable locations, rental prices can increase. Conversely, landlords may lower prices to attract tenants when there is a surplus of rental properties.

In Paragould, there has been steady demand for rental homes, particularly as more people move to the area for work or seek to retire in a peaceful environment. However, the rental supply has kept pace with demand, keeping prices within the $800 to $1,100 range.

Home Features and Amenities

Homes with additional features or amenities may also command higher rents. For instance, properties with garages, fenced-in yards, outdoor patios, or energy-efficient appliances will likely be priced at the higher end of the range. Many homes in the area come with modern conveniences such as dishwashers, laundry hookups, and HVAC systems, all of which can add to the monthly cost.

Pet-friendly homes, especially those with fenced yards, can also be priced higher due to the added appeal for renters with pets.

Comparison with Neighboring Cities

Comparing rental prices with those in nearby cities is helpful in fully comprehending Paragould’s value. For instance, rental prices for similar-sized homes are higher in Jonesboro, AR, about 20 miles away. Monthly rates generally range between $1,100 and $1,600. Jonesboro is a larger city with more job opportunities, shopping, and entertainment options, driving up demand and rental prices.

In contrast, Memphis, TN, a major urban centre about 80 miles from Paragould, has rental prices for 1,143 sq ft homes ranging from $1,300 to $1,800 per month​. Memphis attracts individuals looking for vibrant city life, but this comes at a premium, making Paragould’s lower rental costs even more attractive for those who prefer a quieter lifestyle.

Pros and Cons of Renting in 72450

Pros

• Affordability: Paragould offers some of the region’s most affordable rental rates, especially compared to neighbouring cities like Jonesboro and Memphis. This makes it an ideal location for budget-conscious renters who want to get the most value for their money.
• Small-Town Charm: Paragould is known for its close-knit community and relaxed pace of life. It is appealing for families, retirees, and professionals seeking a quieter, more personal environment.
• Proximity to Amenities: Despite its small size, Paragould provides quick access to schools, healthcare services, and shopping centres, making it a comfortable place to live without requiring long commutes.

Cons

• Limited Rental Inventory: One of the challenges of renting in Paragould is the limited availability of rental properties, especially single-family homes. The area’s popularity with families and retirees can make finding well-maintained homes in desirable locations difficult.
• Fewer Job Opportunities: While Paragould offers a lower cost of living, it also has fewer employment opportunities than larger cities like Jonesboro and Memphis. Renters who must commute for work may find this a disadvantage.

Tips for Locating the Best Rental Deals in 72450

Finding a great rental deal in Paragould requires some strategy. Here are a few tips to help you navigate the rental market:

• Start Early: Given the limited rental inventory, it’s essential to begin your search as early as possible. Homes in good condition or desirable neighbourhoods can rent quickly, so acting fast can make a big difference.
• Be Flexible: If you’re willing to consider homes in less central locations or with fewer amenities, you may find lower rental rates. For instance, looking at homes outside the town centre could save you several hundred dollars a month.
• Check Multiple Sources: Use multiple rental listing platforms and local real estate agencies to find the best deals. Platforms like Zillow, Zumper, and local classifieds often feature rental listings that may not appear on major websites​.

Conclusion

For those looking to rent a 1,143 sq ft home in the 72450 ZIP code, Paragould, AR, offers a balanced mix of affordability, convenience, and community. With average rental prices ranging from $800 to $1,100 per month, it presents a cost-effective alternative to the higher prices in neighbouring cities. Whether you’re a family, a retiree, or a professional, Paragould’s rental market is worth considering for its value and small-town appeal.

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