The story of this market
The typical home in ZIP 72638 sells for about $279,000, or $163 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 72638 — Green Forest
The 72638 housing market shows steady demand with a median listing price of $279K and a shortening of days on market, indicating a healthy pace for sellers. Growth is supported by local industry stability, though the market remains sensitive to broader regional economic shifts. Current inventory levels are sufficient to meet local demand without significant price volatility.
This ZIP is well-suited for families and individuals seeking a quiet, affordable rural-adjacent lifestyle with established housing stock and a slower pace of life.
Median prices moved up 4.2% year over year.
Homes spend a median of 65 days on market with 5.6 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 16.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 72638, Carroll County AR
Crime rates in Green Forest are generally lower than the national average, with property crime being the most frequently reported incident type.
The area is served by the Green Forest School District, which provides primary and secondary education with moderate performance ratings.
The region faces moderate risks related to severe thunderstorms and occasional flooding, typical of the Ozark plateau geography.
Economic momentum is driven by local manufacturing and agricultural processing, with steady residential development occurring on the city's periphery.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Arkansas) — Arkansas Disabled Veteran Total Property Tax Exemption: Provides a 100% exemption from all ad valorem real property taxes on the principal homestead. Formula: Net Ad Valorem Tax Due = $0.00. State (Arkansas) — Arkansas Senior and Disabled Assessment Freeze: Freezes the assessed taxable value of the homestead at the prevailing assessed value at the time the owner becomes eligible or purchases the property. State (Arkansas) — Arkansas State Homestead Property Tax Credit: Provides a direct reduction against ad valorem property taxes up to $350.00 (increased to $350 by Act 655 of 2009; further statutory increases may apply up to $425 depending on legislative session). Formula: Final Tax Due = max($0, Gross Ad Valorem Tax - Homestead Credit). State (Arkansas) — Arkansas Amendment 79 Assessment Growth Caps (Assessment Limitation): Caps annual assessed value growth following a countywide reappraisal: homestead parcel taxable assessments cannot increase by more than 5% per year, and non-homestead residential parcel taxable assessments cannot increase by more than 10% per year until taxable assessment reaches… State (Arkansas) — Arkansas Ad Valorem Property Tax Assessment Ratio and Valuation: Imposes an ad valorem property tax based on a uniform statutory assessment ratio of 20% of true market value.
Commutes are primarily car-dependent, with Highway 62 serving as the main artery for travel toward regional employment hubs like Berryville or Harrison.
The area offers access to local parks and proximity to the Ozark Mountains for outdoor activities, with basic shopping and dining concentrated along the main highway corridor.
The rental market is characterized by limited inventory and stable demand, with a mix of long-term rentals and some investor-owned single-family properties.
The local economy is anchored by manufacturing and agricultural sectors, providing a stable employment base for the surrounding rural area.
Transportation is almost exclusively private vehicle-based, with Highway 62 providing the primary connection to regional transit networks.
Development is focused on low-density residential expansion and small-scale commercial infill along the main highway.
The Carroll County Assessor maintains property valuations based on periodic market analysis and state-mandated assessment cycles.
Parcels are subject to school district taxes and county-level levies for public services and emergency management.
Property insurance premiums are influenced by regional weather patterns, including wind and hail risk common in Northwest Arkansas.
Data retrieved from US Census Bureau ZCTA 72638 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides local green space and recreational facilities for residents.
The primary commercial strip featuring local restaurants and essential services.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.