The story of this market
The typical home in ZIP 72039 sells for about $211,000, or $118 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,026 a month.
ZIP 72039 — Damascus
The housing market in 72039 is characterized by low transaction volume and high vacancy rates, reflecting its rural nature. Prices remain accessible compared to regional averages, but the market lacks significant growth momentum or new development activity. Investors should exercise caution due to the high vacancy rate and limited rental demand.
This ZIP is best suited for rural-lifestyle seekers and budget-conscious buyers who prioritize affordability over proximity to urban amenities and employment centers.
Median prices moved up 2.1% year over year.
Homes spend a median of 84 days on market with 8.4 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.1% · poverty 12.4% — 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 5.1%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 72039, Arkansas
Schools serving the area are primarily managed by the Damascus and surrounding district systems, with performance metrics generally reflecting rural Arkansas averages.
The area is subject to standard regional risks including severe thunderstorms and potential tornado activity; flood risk varies by specific parcel location.
Economic momentum is limited, with the area functioning primarily as a rural residential community with proximity to larger employment hubs in Faulkner County.
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.
Commuting typically requires personal vehicle travel via state highways to reach employment centers in Conway or Little Rock.
Local recreation is centered on rural outdoor activities, with proximity to Greers Ferry Lake and various regional parks and trails.
The rental market is characterized by high vacancy rates and limited inventory, with rents largely driven by HUD fair-market estimates rather than high-density demand.
The local economy is primarily supported by small-scale trade, agriculture, and services, with residents largely commuting to larger Faulkner County employment hubs.
Transportation is entirely dependent on private vehicle use via state highway corridors.
No major large-scale commercial or residential developments are currently reported for this ZIP.
The Faulkner County Assessor manages property valuations based on market-value assessments.
Parcels are subject to standard county and school district taxation; no specific MUD or PID districts are identified.
Property insurance premiums are influenced by regional exposure to severe weather events common in central Arkansas.
Arkansas operates as a non-judicial foreclosure state.
Arkansas law requires sellers to provide a property disclosure form regarding the condition of the home.
Data retrieved from ZCTA-level census profiles.
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.
Major regional reservoir providing boating, fishing, and recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.