The story of this market
The typical home in ZIP 72556 sells for about $219,900, or $115 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 108 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 72556 — Melbourne
The housing market in 72556 remains stable with low inventory and modest price growth. Sales activity is limited, reflecting the rural nature of the area, while affordability remains a key factor for local residents. Data for specific metrics like price cuts and months of supply are based on limited listing samples.
This ZIP is best suited for budget-conscious buyers and those seeking a rural lifestyle, as it offers a low cost of living compared to national averages.
Median prices moved up 4.2% year over year.
Homes spend a median of 108 days on market with 8.5 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 5.8% · poverty 22.3% — a mixed stability 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 5.5%/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 4.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 72556, Izard County AR
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.
Residents typically rely on personal vehicles for commuting, with a mean travel time to work of approximately 24.2 minutes.
Local recreation is centered around outdoor activities, including access to regional parks and natural areas within the Ozark region.
The rental market is characterized by limited inventory and lower price points, primarily serving local workforce needs.
The local economy is primarily driven by agriculture, local government, and small-scale retail services.
Transportation is primarily served by Arkansas Highways 9 and 69, with no major public transit infrastructure.
Parcels are subject to Izard County property tax assessments and local school district levies.
Property insurance premiums are influenced by regional wildfire and storm risks common to the Ozark plateau.
Data retrieved from Census Reporter and ACS 2024 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.
Local community park providing green space and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.