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.