Total monthly cost of ownership
Cost to Own a Home in Fort Smith, Arkansas
A $168,000 home here costs
$1,419per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $864. The real number is $556 higher every month — 64% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Fort Smith against Sebastian County and Arkansas
| Measure | Fort Smith | Sebastian County |
|---|---|---|
| Median home value | $168,100 | $166,000 |
| Median property tax | $1,118 | $1,081 |
| Effective tax rate | 0.665% | 0.651% |
| Median gross rent | $852 | $854 |
| Population | 89,496 | 128,448 |
The weather behind that power bill
Fort Smith sits in Sebastian County, which averages a high of 94.1°F in its hottest month and a low of 29.6°F in its coldest, with 47.34" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,177 cooling and 3,098 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Sebastian County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sebastian County
Full Sebastian County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Fort Smith?
A $168,000 home in Fort Smith, Arkansas costs approximately $1,419 per month with 20% down at 6.66%. That is $864 principal and interest, $93 property tax, $125 homeowners insurance, $197 utilities and $140 set aside for maintenance.
What is the property tax rate in Fort Smith?
Fort Smith has an effective property tax rate of 0.665%, based on a median home value of $168,100 and median real estate taxes of $1,118. That is higher than the Sebastian County average of 0.651%.
What is the average home price in Fort Smith?
The median owner-occupied home value in Fort Smith, Arkansas is $168,100, against $166,000 across Sebastian County.
Is it cheaper to rent or buy in Fort Smith?
Median gross rent in Fort Smith is $852 a month, against $1,419 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fort Smith — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Arkansas.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.