Little Rock Arkansas Investment Property

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POPULATION GROWTH

• 2012 population estimate: 196,537.  The Metropolitan Statistical Area (MSA) had a population of 709,901 people in the 2011 census.
• Pulaski County population growth projection from 2010 (382,748) to 2040 (457,173) is 16.3%.
• Little Rock was voted Number 1 Place to Live in the United State for cities under 1,000,000 in population by Kiplinger Magazine (July 2013).
• 15% population growth in past decade.

JOB GROWTH

• Projected job growth of 32% over next 10 years.
• Very low unemployment at around 4%.
• The capital of Arkansas and centrally located within the state, Little Rock with its population of just under 200,000 has the amenities of a larger city but is small enough that you can feel part of the community.
• The current unemployment rate is 6.6%, well below the national average (7.6%).
• Little Rock has a developing vibrant downtown area that offers a variety of shops, restaurants, bars, and culture that is attractive to any resident or visitor.
• Competitive wages and Arkansas’ right-to-work environment provide an excellent workforce environment for businesses. Twenty-eight (28) Fortune 500 companies operate within the Little Rock Metropolitan Statistical Area.
• Highest manufacturing employment in the South. (NAM)
• 6 "Fortune 500" companies.

ECONOMY

• Little Rock was ranked the nation’s second-most diverse economy according to Moody’s Investors Service.
• Manufacturing is a big component of the Little Rock workforce. Media and Technology are also large components of the Little Rock workforce.
• The Little Rock Technology Park is underway and expected to be a major economic driver for the next 30 years.
• The City of Little Rock recently funded performance-based incentives over the next 10 years to complement business.  And the state of Arkansas is one of only a small handful of states to maintain a balanced budget.
• Housing costs are also well below the national average.
• Lowest cost of doing business. (CNBC)

TAXES / COST OF LIVING

• 7% state income tax on income over $32,600.
• Compared to the rest of the country, Little Rock's cost of living is 9.2% lower than the U.S. average.

RANKINGS & OTHER NOTES

• 2013, Kipplinger’s rated LR #1 in the “10 Great Places to Live” list, in part because of low cost of living.
• 2013, Forbes ranked LR among the “Top MSA’s in the U.S. for Business and Careers”.
• 2013, Outside magazine named LR to its list of “Best Towns”, citing scenic beauty and 24 mile River Trail system.
• 2014, Forbes named LR a “secret foodie city”
• Moody’s Investors Service ranked LR MSA No. 2 on their “Most Diverse Regional Economy”.
• Landlord friendly: 21 DAYS to complete eviction. Tenant remaining in property beyond notice to vacate is considered “Unlawful detainer”.
• Rent increases 11.4% in 2015 (9th largest increase nationwide, according to Rentrange).
• Arkansas: Ranked No. 2 highest manufacturing employment in the south by National Association of Manufacturers.
• Arkansas: Ranked No. 2 lowest cost of doing business in the U.S.
• Arkansas ranked No. 4 Strongest Economy in U.S. by Businessweek in 2013.
• Arkansas was CNBC’s Top States for Business 2014.
• CNBC ranks Arkansas as the 20th best state in the nation for doing business due to Arkansas having the second lowest cost of doing business and the eleventh best workforce.
• Major construction projects underway: Broadway Bridge, ($80 million). LR Technology Park (2500 jobs, generate $262 million per year). Robinson Center renovation ($68million). UP and Coming I-30 bridge/interchange.
• The typical time a tenant stays is around 3 years under current property manager.

Overview

Little Rock is a relatively large city located in the state of Arkansas. With a population of 196,055 people and 51 constituent neighborhoods, Little Rock is the largest community in Arkansas.

Little Rock real estate is some of the most expensive in Arkansas, although Little Rock house values don't compare to the most expensive real estate in the U.S.

Little Rock is a decidedly white-collar city, with fully 85.61% of the workforce employed in white-collar jobs, well above the national average. Overall, Little Rock is a city of professionals, sales and office workers and service providers. There are especially a lot of people living in Little Rock who work in office and administrative support (14.86%), sales jobs (11.25%) and healthcare (9.81%).

Also of interest is that Little Rock has more people living here who work in computers and math than 95% of the places in the US.

Little Rock Information and Demographics

The citizens of Little Rock are very well educated compared to the average community in the nation: 38.21% of adults in Little Rock have a bachelor's degree or even advanced degree.

The per capita income in Little Rock in 2010 was $29,575, which is wealthy relative to Arkansas, and upper middle income relative to the rest of the US. This equates to an annual income of $118,300 for a family of four. However, Little Rock contains both very wealthy and poor people as well.

Little Rock is an extremely ethnically-diverse city. The people who call Little Rock home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Little Rock residents report their race to be White, followed by Black or African-American. Important ancestries of people in Little Rock include English, German and Irish.

The most common language spoken in Little Rock is English. Some people also speak Spanish.

Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau and Locatoin Incorporated are deemed reliable but not guaranteed.

Information by realestate.com and altosresearch.com are deemed reliable but not guaranteed.

Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau deemed reliable but not guaranteed.