Expect to pay a little more for rent if you're in the market for an apartment in Central Arkansas. Even so, rent in Arkansas remains below the national average monthly payment, and the annual increase locally still lags behind what's happening across the U.S.
Across Central Arkansas, rent hikes were below 1% in five cities at the end of 2019. By comparison, the overall U.S. average rent increased 3%, representing $43 more a month.
Sherwood renters saw the fastest-growing rents in December, with rental apartment prices increasing by nearly 9%, or $56 year-over-year. The average rent in Sherwood was $692 per month.
Little Rock apartments saw the second-highest annual increase, jumping by 2.3% or $18 from a year ago. The average rental in the city was $790.
In North Little Rock, prices decreased by 1.2% or $10, compared to December last year. Nevertheless, North Little Rock apartments remain the most expensive in the region at $816 per month.
Other cities in Central Arkansas also registered decreases in 2019. Apartments in Bryant were renting at an average of $731 per month, down $8 from the prior year. Units in Conway were renting for $701, down $13.
The information was compiled by RentCafe, a nationwide apartment search website that is a part of Yardi Systems, which has served real estate and property management professionals for more than 25 years.
While rents went up nationally in 2019, the average increase of $43 per month was slightly lower than the $45 hike in 2018.
RentCafe also reported that the national average rent increased by 13% over the past five years. That amounts to $166 per month or just shy of $2,000 per year.
Increases over the same time period in Arkansas were lower, ranging from 9% in Sherwood to 4% in North Little Rock.
CANNABIS BANKING
The Arkansas Bankers Association is conducting three webinars to help financial institutions learn more about providing banking services to the cannabis industry.
Cannabis commerce is now legal in more than half the U.S. though it is still outlawed on the federal level, presenting difficult challenges for bankers interested in providing funding for the budding industry.
The state association will hold three, one-hour seminars on Feb. 12, March 4 and in April (the date has not yet been determined) to provide bankers with information on how to establish funding programs.
The program is recommended for C-suite executives and others leading compliance or risk-management programs at financial institutions in Arkansas.
Seminars will be led by Green Check Verified Chief Executive Officer Kevin Hart and Green Check co-founder Paul Dunford. Green Check Verified provides regulatory technology products that support cannabis-related businesses and financial institutions willing to serve those businesses.
Go to arkbankers.org for more information.
FINANCIAL LITERACY FOR WOMEN
Arkansas Treasurer Dennis Milligan is working with a national organization to bring the Smart Women Smart Money conference to Little Rock on Feb. 28. It will be held at the Embassy Suites.
The second-annual conference developed by the State Financial Officers Foundation is free, but registration is required. Women interested in registering for the event can visit www.swsmARKANSAS.com.
The conference provides women with financial tools and information on topics such as creating a family budget, obtaining insurance and starting a business.
CNN political commentator Mary Katharine Ham will be the keynote speaker.
P-TECH AND FACEBOOK
Smart-phone users spend more than six hours a day, on average, using social media. That's a rich target environment for digital marketing campaigns.
To help you take advantage of the opportunity, the University of Arkansas-Pulaski Technical College is joining forces with Facebook to offer a digital marketing program. Employers and job-seekers can learn more about using social media to promote their companies and their individual skills.
The seven-month class costs $1,000 but Facebook scholarships are available and would reduce total out-of-pocket expense to $250. Learn more about the program and the scholarship at www.uaptc.edu.
Students will gain a deeper understanding of digital marketing fundamentals, with topics that include marketing analytics, search and display advertising and e-mail marketing.
Registration closes Feb. 14. Classes begin Feb. 23.
SundayMonday Business on 02/02/2020