Yes, Lots of People Are Still Moving to NWA: Where They’re Coming From, What it Means, & Preparing for the Futur

Oct 18, 2024

5 min read

If you’ve lived in Northwest Arkansas for any amount of time, it’s no secret that the population has been exploding in recent years. From new housing developments and apartment complexes popping up everywhere to the ever-worsening traffic across the region, it’s obvious that our area is growing–rapidly.

The Northwest Arkansas Council estimates that an average of 36 people a day are moving to Northwest Arkansas, projecting that our population will reach 1 million people by 2050.

So where are these people moving from, where are they living, and what should we be thinking about moving forward?

Who’s Moving to Northwest Arkansas?

According to United Van Lines Data, Arkansas ranked as the fourth-top state people moved to in 2023, and data from Talk Business & Politics ranks Northwest Arkansas as the 18th fastest-growing metro area in the country.

Data from the Department of Motor Vehicles shows that the majority of inbound license transfers to Arkansas in 2023 came from Texas, California, and Missouri.

The appeal is clear: many are seeking a lower cost of living and a slower pace of life, combined with access to the great outdoors and a tight-knit community feel.

The Fastest Growing Towns in NWA

Every major city in the NWA metro area has something unique to offer. Bentonville, Rogers, Springdale, Fayetteville are the glue that holds our community together: but the five fastest-growing towns in our region are actually the suburban towns in-between and on the outskirts, where people live and do life with access to all the amenities and opportunities of the larger cities.

Here are the fastest growing towns in NWA, according to data from the U.S. Census Bureau:

Tontitown
Centerton
Highfill
Pea Ridge
Prairie Grove

However, with recent unified zoning code decisions, Rogers may be the most poised to take on new homeowners in coming months and years.

The Real Estate Perspective

For existing property owners, congratulations! Your assets have no choice but to appreciate in value long-term.

Any influx of new residents will obviously have a significant impact on the real estate market. With demand skyrocketing beyond the current supply, home prices in NWA have been on the rise, creating a competitive market. It’s created a sort of housing musical chairs for the region.

Benton County has seen the most development, with a population growth rate of 2.7% in 2023, making it the 118th fast-growing county in the nation.

In terms of development, Rogers is leading the way to prepare for continued, sustainable growth with their new zoning and development codes that give them the most opportunity moving forward to meet this housing inventory crisis.

Preparing for A Bright Future Ahead

As Northwest Arkansas continues to grow, we stand at a crossroads of opportunity and responsibility. The influx of newcomers is reshaping the landscape of where we live, driving economic growth, and fostering a sense of community that is diverse and vibrant.

In terms of responsibility, Northwest Arkansas developers, real estate professionals, city planners and homeowners must be vigilant to learn from other booming metro areas like Austin, TX, whose city-planners made many mistakes while their market was maturing. They didn’t invest in or make adequate plans for infrastructure, parks, or think through their zoning to make housing available early on in the population surge.

The growth of NWA will continue to attract bikers, business leaders, and big-box retailers like Whole Foods, and who knows–maybe we’ll finally get a Trader Joe’s.

In short, this population boom is more than a statistic; it’s a shift in the trajectory of our region, and we play a crucial role in forming our future.

Locals Coffee

Locals Coffee recognized a need to provide specialty coffee with speed, accessibility, and convenience. They believe everyone should consider the opportunity to lift one another up in anything they do. They work with local vendors to provide local products, such as Pink House Alchemy, Onyx, Savoy Tea and more.

Learn More

NWA Real Estate Market Update

Get pre-approved with Momentum Loans

When Is The Best Time To Buy A Home? While Fall Is Popular, It Depends

Popular opinion maintains that fall is the best time to buy a home, and Realtor.com actually narrowed the very best timeframe to the period between September 29 and October 5. But is this really the best time for potential home buyers to pull the trigger and purchase a home?

Read Full Article

Hot Topics in the Media

Arkansas companies, National Guard send hurricane help

The Arkansas National Guard and NWA-based companies like Walmart are aiding those affected by back-to-back hurricanes that have caused devastation in multiple southeastern states.

-AXIOS

How have two hurricanes impacted housing inventory?

Inventory growth has been slowing recently and it went negative last week

-Housing Wire

Artists get boost with grant funding

Thirty-one Northwest Arkansas artists recently received a total of $300,000 in grants.

-AXIOS

New Business Licenses

At Gathered Goods, customers will discover an impressive selection of both new and primitive home décor, along with unique furniture pieces, all presented in a clean, spacious, and inviting environment. Navigating the store feels like embarking on a treasure hunt, where every corner holds something special waiting to be found. The team warmly welcomes everyone to experience the joy and warmth that Gathered Goods has to offer!

Learn More

Northwest Arkansas Planning Meetings