Market Highlights

Home to 4 of the state’s largest cities, Northwest Arkansas (NWA) is gaining a national reputation as a top place to live. Consisting of the major Arkansas cities of Fayetteville, Springdale, Rogers, and Bentonville, Northwest Arkansas is home to 260 multifamily properties and over 42,000 units. Additionally, the region currently has 35 multifamily properties under construction representing an additional 5,485 units to come online over the next several years. With a YoY population growth of nearly 3% and a 30% increase in employment in key industries over the last 10 years, Fayetteville is projected to explode another 76% between now and 2060 (Milken).

NWA is perhaps most well-known for being the global headquarters for retail giant Walmart. Notable brands such as Sam’s Club, Tyson Foods, and JB Hunt also have a major presence in the area. Nearly 40,000 college students attend universities and colleges in the region, led by SEC member University of Arkansas, which has an enrollment north of 30,000. In terms of healthcare, Washington Regional Medical Center (425 beds) and Mercy Hospital Northwest (245 beds) are the largest hospitals in the area.

Multifamily Highlights

Major Employers

  1. Walmart HQ

    14,000 jobs  | Learn More
  2. Sam's Club HQ

    5,000 jobs  | Learn More
  3. University of Arkansas

    4,840 jobs / 30,936 students  | Learn More
  4. Washington Regional Medical Center

    3,300 jobs / 425 beds  | Learn More
  5. CreativeDrive

    3,000 jobs  | Learn More
  6. Mercy Hospital Northwest

    2,456 jobs / 245 beds  | Learn More
  7. Northwest Health

    2,300 jobs  | Learn More
  8. Simmons Foods HQ

    2,067 jobs  | Learn More
  9. Tyson Foods

    2,000 jobs  | Learn More
  10. McKee Foods

    1,500 jobs  | Learn More
  11. JB Hunt

    1,250 jobs  | Learn More

Other Demand Drivers

  1. Northwest Arkansas Mall & Spring Creek Centre

    Dillard's, JC Penney, Walmart, Target, Kohl's, Best Buy  | Learn More
  2. Arvest Ballpark

    Home of the Northwest Arkansas Naturals  | Learn More
  3. Pinnacle Hills Promenade

    933,984 SF; Dillard's, JCPenney, Malco Theatre  | Learn More
  4. Crystal Bridges Museum of American Art

    $1.2 billion endowment (Walton Family Foundation)  | Learn More

Sources & Comments

1. 22220 Fayetteville-Springdale-Rogers, AR Metropolitan Statistical Area consists of 3 counties, according to Office of Management and Budget: (1) Benton (2) Madison (3) Washington

2. Primary Sources: (1) (2) YardiMatrix (3) (4) CoStar (5) (6) (7)

3. Sales Comps are from 8/18/22 – 8/18/23

4. Development Pipeline as of 8/18/2023

5. This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy