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City · 67,642 residents · Faulkner County, Arkansas

Conway , Arkansas

In Conway, a typical home is worth $252,100 and typical rent is $1,011 a month. Compared with all of Faulkner County, the typical home value is 8% higher, typical household income is 6% lower, and the share of households that own their home is 17 points lower.

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  • Typical home value

    $252,100

    8% above the county

    34% above Arkansas

    • Conway
    • Faulkner
    • Arkansas

  • Typical rent

    $1,011a month

    About the same as the county

    7% above Arkansas

    • Conway
    • Faulkner
    • Arkansas

  • Typical household income

    $63,004a year

    6% below the county

    4% above Arkansas

    • Conway
    • Faulkner
    • Arkansas

  • Households that own their home

    45%

    17 points below the county

    21 points below Arkansas

    • Conway
    • Faulkner
    • Arkansas

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$250,256
2.5% more than 12 months ago
Typical rent
$1,314 a month
3.3% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Conway is in Faulkner County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Faulkner County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Conway apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Morrilton, the typical home value is $160,900: 36% less than in Conway ($252,100).

  2. 45% of households in Conway own their home, against 62% in Faulkner County.

  3. Nearby, in Morrilton, the typical rent is $717: 29% less than in Conway ($1,011).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Conway

What homes there are in Conway, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses are the majority in Conway (56%), but less so than in Faulkner County (66%).

Year built

By age, homes in Conway look like those in Faulkner County: the typical year built is 1998.

Homes in Conway are smaller: 58% have 3 bedrooms or more; in Faulkner County, 69%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Conway sit under the FHA limit for Faulkner County ($541,287): about 89%.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Faulkner County is $1,121: about 58% of rents in Conway are below it.

With a mortgage

$1,521 a month

Faulkner County: $1,418 a month

Without a mortgage

$556 a month

Faulkner County: $496 a month

Owners with a mortgage

66%

Faulkner County: 63%

The typical cost for an owner with a mortgage in Conway is $1,521 a month, more than in Faulkner County ($1,418); without one, $556.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Conway rose at about the same pace as in Faulkner County: 47% against 44%.

Rents in Conway rose at about the same pace as in Faulkner County: 23% since 2015–2019, against 22%.

To compare: typical income in Conway rose 33%; the home, +47%; the rent, +23%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureConwayFaulkner CountyArkansasUnited States
Rental vacancy 5.6%5.4%6.4%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.1%0.9%
More than one person per room 2.4%2.5%2.7%3.4%
People per household 2.312.482.462.53
Drive alone 80%82%79%69%
Carpool 7%7%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike 2%2%2%3%
Work from home 10%9%9%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes20 to 29 minutes10 to 19 minutes20 to 29 minutes

Much as in Faulkner County, the rental vacancy rate in Conway is 5.6%.

More than one person per room: that is how 2.4% of households in Conway live, near the figure in Faulkner County (2.5%).

On average, a household in Conway has 2.31 people, fewer than in Faulkner County (2.48).

To get to work, 80% of workers in Conway drive alone; in Faulkner County, 82%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Conway?

A typical home costs more than the typical income allows

We start with a typical home in Conway, worth $252,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Conway, which is $63,004 a year. For that payment to be 28% of income, a household would need to earn about $86,369 a year.

The calculator's FHA and conventional loan limits are those of all of Faulkner County.

Your numbers

Local data
$

Starts at the typical home value in Conway. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,824 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,015

at 7.18% · 30 years

Loan amount
$247,533
Total interest
$356,142
Paid off in
November 2056

Includes $4,257 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,470 a month

  • Tight

    $1,470 to $1,890 a month

  • Hard

    more than $1,890 a month

    Your payment · 38%

Compared with the typical household income in Conway ($63,004 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,015
Principal & interest$1,677
Property tax$122
Home insurance$105
FHA mortgage insurance (MIP)$112

You need at least $8,824 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Conway and Faulkner County

Conway is in Faulkner County, Arkansas. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Conway's own numbers

Typical home value
$252,100
Typical monthly rent
$1,011
Typical yearly household income
$63,004
Households that own their home
45%
Effective property tax rate
0.58%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Faulkner County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,121
Price change over 5 years (FHFA)
+49%
Homes in a high flood-risk zone
4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Faulkner County.

Everything about Faulkner County

Buying

Buying a home in Conway

A typical home in Conway is worth $252,100: 8% above the county and 34% above Arkansas. With the typical household income in Conway ($63,004 a year), a typical home costs 4.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Conway 4.0 years
  • Faulkner 3.5 years
  • Arkansas 3.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Faulkner County

According to FHFA’s house price index, home prices in Faulkner County rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Faulkner County.

Period County Arkansas U.S.
Last year (2025) +3.6% +3.4% +2.9%
5 years (2020–2025) +49% +52% +47%
10 years (2015–2025) +72% +79% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Conway next to Faulkner County, Arkansas and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Conway $252,100
  • Faulkner $232,700
  • Arkansas $188,000
  • United States $332,700
Typical monthly rent
  • Conway $1,011
  • Faulkner $1,005
  • Arkansas $947
  • United States $1,413
Typical yearly household income
  • Conway $63,004
  • Faulkner $67,289
  • Arkansas $60,773
  • United States $80,734
See the full table
Conway next to Faulkner County and Arkansas
Measure Conway Faulkner County Arkansas U.S.
Typical home value $252,100 $232,700 $188,000 $332,700
Typical monthly rent $1,011 $1,005 $947 $1,413
Typical yearly household income $63,004 $67,289 $60,773 $80,734
Households that own their home 45% 62% 66% 65%
Typical yearly property tax $1,467 $1,253 $1,040 $3,119
Effective property tax rate 0.58% 0.54% 0.55% 0.94%
Renters with high rent for their income 47% 46% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Faulkner County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Conway

For a typical $252,100 home in Conway, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Conway's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,015a month

    Least cash to close
    Down payment
    $8,824
    Cash to close
    $16,387
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $112

  • Conventional, 5% down $1,969a month

    Down payment
    $12,605
    Cash to close
    $20,168
    Rate
    7.18%
    Mortgage insurance
    PMI · $120

  • Conventional, 20% down, no PMI $1,593a month

    Down payment
    $50,420
    Cash to close
    $57,983
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,826a month

    Down payment
    $37,815
    Cash to close
    $45,378
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Conway and for Faulkner County.

Property tax

Effective rate in Conway

0.58%of the home’s value each year

$1,467 a year for the typical owner in Conway.

  • Conway 0.58%
  • Faulkner 0.54%
  • Arkansas 0.55%

What Arkansas publishes Homestead property tax credit (Arkansas General Assembly (Act 174 of the 2026 Fiscal Session))

Exemptions and deadlines in Arkansas

Flood risk in Faulkner County

FEMA does not publish these numbers by city: they are for all of Faulkner County.

Homes in the high-risk zone
4%
1,736
Of those, with NFIP insurance
18%
County Arkansas U.S.
Homes in the high-risk zone 4% 3.4% 3.5%
Of those, with NFIP insurance 18% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Conway

Typical rent in Conway is $1,011 a month: about the same as the county. In Conway, 47% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Faulkner County, by unit size. To pay the 2-bedroom one ($1,121 a month) without spending more than 30% of your income, you would need to earn $21.56 an hour working full time.

HUD fair market rent for all of Faulkner County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $964 $18.54 $38,560
1 bedroom $969 $18.63 $38,760
2 bedrooms $1,121 $21.56 $44,840
3 bedrooms $1,504 $28.92 $60,160
4 bedrooms $1,810 $34.81 $72,400

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Conway

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Conway has 3 ZIP codes with their own.

For 2 bedrooms it runs from $1,070 in 72032 to $1,110 in 72035.

None is above the fair market rent for Faulkner County ($1,121).

  • 72032 $1,070$1,440
  • 72034 $1,110$1,490
  • 72035 $1,110$1,490

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Conway when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Conway

HUD lists 26 buildings with rents for lower incomes in Conway. These are the largest.

  • Conway 1701 Hairston St, Conway 72034 154 homes, 153 low-income · Run by Housing Authority of the City of Conway · Average payment: $382 a month · Average wait: 19 months (501) 327-0156
  • Gardens at Conway Commons 1750 Village Commons Dr, Conway 72032 102 homes, 51 low-income · 1 bd: 26 · 2 bd: 76 · In service since 2007
  • Hometowne at Conway Aka Gardens at Conway Com 1750 Village Commons Dr, Conway 72032 102 homes, 51 low-income · Studio: 4 · 1 bd: 26 · 2 bd: 76 · In service since 2007
  • Cottages at Conway 1915 Rich Smith Ln, Conway 72032 51 homes, 50 low-income · Studio: 1 · 1 bd: 16 · 2 bd: 34 · In service since 2015
  • East Oakwood Apartments 1651 Hairston St, Conway 72034 50 low-income homes · 1 bd: 44 · 2 bd: 6

See all 30 buildings in Faulkner County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Conway

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Faulkner County. The nearest ones are below; many serve by phone or online.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Conway

No down payment, repair or rent-help program on our list is for Conway or Faulkner County. The ones below are statewide in Arkansas: they work in Conway the same as in the rest of the state.

Which programs do I qualify for? All programs in Arkansas

  • ADFA Down Payment Assistance Loan Program

    Statewide in Arkansas

    Arkansas state authority second mortgage of $1,000 to $15,000 for the down payment and closing costs, over 10 years and at the same rate as the ADFA first mortgage (Move-Up or StartSmart). Offered by Arkansas Development Finance Authority (ADFA).

    Repayable

    See the program Official page

Housing counselors near Conway

The HUD-approved agencies closest to the center of Conway, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • NSC (naca Counseling Subsidiary) - Little Rock, AR

    1501 N University Ave Ste 680, Little Rock · 23 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (501) 492-0083

  • In Affordable Housing, Incorporated

    3224 Shackleford Pass, Little Rock · 25 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (501) 221-2203

  • Southern Bancorp Community Partners

    3999 W 12th St, Little Rock · 25 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (501) 406-6000

All counseling agencies in Arkansas

Help in Spanish near Conway

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Conway

HUD’s record names them for Conway or Faulkner County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Conway Public housing and Section 8 vouchers (501) 327-0156

All housing agencies in Arkansas Source: HUD

Cities

Other cities in Faulkner County

These cities are also in Faulkner County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Faulkner County Housing in Arkansas

Nearby cities

The cities closest to Conway, with the typical home value.

Neighboring counties

If Faulkner County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Conway.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Conway

Short answers with the numbers for Conway and all of Faulkner County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Conway?

The typical home value in Conway is $252,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Faulkner County it is $232,700.

How much does it cost to rent in Conway?

Typical rent in Conway is $1,011 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Faulkner County is $1,121.

What is the FHA loan limit in Conway?

Conway uses the FHA limit for all of Faulkner County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Conway?

The typical homeowner in Conway pays $1,467 a year, according to the U.S. Census Bureau. That is 0.58% of the home’s value; in Faulkner County, the rate is 0.54%.

Where can I find free help to buy or rent in Conway?

We found no HUD-approved counseling agencies with an office in Faulkner County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).