Bentonville Arknasas is becoming America's next real estate hot spot

Bentonville, Arkansas, is becoming a super popular place to live, with its population and real estate market growing like crazy in recent years.

Before it was known as the home of Walmart, Bentonville has become one of the most desirable places in the US. It’s attracting new residents, businesses, and even high-profile executives.

The city’s population grew by 2.7% in 2023, and it’s been growing even faster since 2020. Experts think this trend will keep going for a long time. Northwestern Arkansas is expected to have over 1 million residents by 2050, according to the Arkansas Democrat-Gazette.

Bentonville is in a fast-growing region, and other companies that are headquartered there are helping it grow.

“We’re the home of Walmart, and we’re also the home of J.B. Hunt and Tyson,” said Kaala House, Managing Partner at The Agency Bentonville, to Fox Business. “Walmart has really worked hard to make this a great place to live.”

The market is growing so much, especially after COVID, because many people wanted to get away from the city and be outdoors. In the last few years, we’ve even become the mountain biking capital of the US in Bella Vista, which is making us even more attractive to Walmart.

The new residents have put pressure on the housing market. In just the first six months of 2024, there were 4,799 home sales in Benton County and two nearby counties. That’s an 8.5% jump from the same period last year, and 39.5% of the homes sold were new construction.

But there aren’t enough homes for everyone, so many homeowners aren’t selling.
Many folks are still holding on to their COVID two-point interest rate because they don’t want to sell since they’re getting such a great deal. But prices have skyrocketed since then, and we have a ton of new construction. If we built 29 new houses every day, we wouldn’t have enough because we’re averaging 37 more people a day.

Despite all this growth, Bentonville is starting to feel like a buyer’s market right now. Things like rising interest rates and the uncertainty of the upcoming election are messing with the real estate market.

But experts say Bentonville’s boom is far from over. Walmart is planning to open a new “Home Office” campus next year, which will bring even more people to the area.

“As Walmart keeps hiring and all these companies here keep bringing people to live in Northwest Arkansas, we’re just going to keep growing and seeing more businesses move in, including more restaurants,” said Katlyn Munch, an agent at The Agency Bentonville.

Walmart’s recruitment efforts have been a big part of Bentonville’s population boom.

The retail giant has asked many of its remote workers to move to Bentonville, but they also have the option to move to Hoboken, New Jersey, or Southern California.

In addition to Walmart, many of the companies that do business with them also have a presence in the area, which has helped Bentonville grow even faster.

Other areas around Bentonville are also booming. Many people are looking for more affordable housing options after being priced out of Bentonville.

The average home price in Benton County hit $430,000 in the first half of 2024, which is a whopping 72.5% increase over the past five years, according to the Skyline Report.
Bentonville’s transformation has caught the attention of people from all over. Jon Gray, the chief operating officer of Blackstone, recently raved about the city in a viral LinkedIn video, calling it a must-visit destination.
“This is a place you should definitely add to your bucket list,” Gray said in the video while jogging in the area.

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