The story of this market
The typical home in ZIP 72422 sells for about $115,309, or $72 per square foot.
Prices are down 1.2% from a year ago, which gives buyers more room to negotiate. Homes take about 112 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $792 a month.
ZIP 72422 — Corning
The housing market in 72422 is characterized by low price points and high vacancy rates, reflecting a stagnant local economy. While homes are affordable, the high vacancy and lack of significant growth drivers make it a challenging environment for traditional appreciation. Market activity remains slow with limited inventory turnover.
This ZIP is best suited for local workers and budget-conscious buyers seeking affordable entry-level housing, though it requires significant due diligence for investors due to high vacancy risks.
Median prices moved down 1.2% year over year.
Homes spend a median of 112 days on market with 9.4 months of supply — a slower-moving market.
13% of listings have cut prices · homes sell at 96.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.4% · poverty 19.2% — 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 3.9%/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 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 72422, Clay County AR
Crime rates in Corning are generally lower than the national average, though property crime remains the primary concern for local law enforcement.
Schools in the Corning School District are characterized by small class sizes and community-focused programming, though they face challenges with limited extracurricular resources compared to larger regional districts.
The area faces moderate risk from severe thunderstorms and occasional flooding associated with local drainage basins, with standard insurance coverage typically available.
Economic momentum is modest, driven primarily by local agriculture, small-scale manufacturing, and regional retail services with limited large-scale industrial expansion.
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.
Commutes are primarily local, with most residents driving to employment centers within Clay County; there is no significant public transit infrastructure.
Local recreation is centered on community parks and proximity to regional outdoor activities like fishing and hunting, with basic retail and dining options located in downtown Corning.
The rental market is characterized by high vacancy rates and modest rent growth, with a significant portion of the stock consisting of older single-family homes.
The economy is heavily reliant on the agricultural sector, local government, and small-scale retail, with limited diversification.
Transportation is entirely dependent on private vehicles, with US Highway 67 serving as the primary corridor for regional access.
There are no major large-scale commercial or residential developments currently approved or under construction in the immediate ZIP area.
The Clay County Assessor's office manages property valuations, typically conducting periodic reappraisals to align with market values.
Parcels are subject to standard school district taxes and county-level levies; no major MUD or PID districts are currently active.
Property insurance remains available, though premiums are sensitive to regional weather patterns and the age of the housing stock.
Arkansas is a non-judicial foreclosure state, allowing for relatively efficient processing of defaults.
Sellers are required to provide a property disclosure statement, though the scope is generally limited compared to other states.
Data retrieved from Census Bureau ZCTA profiles and local market reports.
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.
Provides local green space and community recreational facilities.
The primary hub for local retail and small-town dining establishments.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.