If you’re a loyal HGTV watcher, you may also have seen the show, Fixer to Fabulous, which is based in the city’s downtown area.
All the attention isn’t accidental. Bentonville is in the middle of a population boom, and if this city on the rise isn’t already on your radar, you might want to put it there.
Walmart puts Bentonville on the map
Walmart founder Sam Walton and family moved to Bentonville in the 1950s, and “opened Walton’s 5&10 on the downtown square,” said Walmart. “Sam opened the first Walmart in 1962 at the age of 44 in Rogers, Arkansas,” about eight miles away. Today’s downtown Bentonville area is largely a testament to the family’s influence on the city.
“The largest family fortune on earth is run out of two floors of unmarked suites in Bentonville, Arkansas,” said Bloomberg. “The building is a discreet nerve center for the Walton family’s $152 billion hoard. There are plenty more overt signs of their success in the heart of the city. The town square features the former five-and-dime store…which was the launchpad for Walmart Inc. Across the square is a branch of Arvest Bank—also owned by the family—while a short walk south brings visitors to the grounds of Crystal Bridges, a $1.2 billion museum of American art built with Walton money on family-owned land in an Ozark forest. Then there are the stores, warehouses and low-slung headquarters of Walmart that dot the landscape for miles around.”
Population rising
Crystal Bridges houses the largest collection of American Art in the world and there are 36 miles of paved, shared-use trail, a system that “ties all of Northwest Arkansas together and provides an outdoor lifestyle nearly unmatched across the country,” said Because Bentonville. The latter is the work of “the younger generation’s increasing influence,” said Bloomberg; Bentonville realtor Larry Horton tells them that, “Recent growth is due to the Walton grandchildren. They’ve put a lot of effort into getting younger people here.”
The strategy has been effective. Bentonville has grown from a population of 35,000 in 2010 to more than 51,000 today, according to the most recent Census estimates, while still boasting a cost of living that is 10% lower than the national average.
Real estate follows suit
And while Horton said that real estate prices “have tripled in the past few years,” you can still buy a home in the $100,000s, like this new construction in a family-friendly enclave. The median price in the city is $222,000, but you’ll find plenty of move-up and luxury options, too.
This historic Victorian steps to the downtown square is listed for $875,000. There are also quite a few million-dollar-plus listings with a mix of architectural styles, settings, and space. And then there’s this: A 200-acre executive retreat and resort located about 12 miles from downtown Bentonville and featuring a 15,000-square-foot estate, a 5,500-square-foot guest house, an event hall, and a caretaker’s cottage, for just under $10 million.
Booming economy
While the local economy is largely driven by Walmart, fellow Fortune 500 companies Tyson Foods and J.B. Hunt are also located in the city. And, “Bentonville is home to a growing entrepreneurial scene, with co-working spaces and startup incubators being added quickly over the last 5 years,” said Wikipedia. “Bentonville was ranked as one of the best cities for entrepreneurs in America in 2017 by Livability.”
Need a few more reasons to move there: The average commute is just 18 minutes and there are 218 average days of sunshine per year. In MONEY’s roundup of the Best Places to Live, it noted the high graduation rate, which is currently 92.4%, and the fact that “54.8% of people…own their homes.”
Niche gives the city an A+ overall and the same score for housing, public schools, and good for families. Niche has also named the city No. 1 in Arkansas for best place to live, best place to raise a family, and best suburb for young professionals in the state. In addition, the Northwest Arkansas area, which also includes the Fayetteville-Springdale-Rogers metropolitan statistical area, has been ranked in the top 5 of U.S. News & World Report’s list of best places to Live in the United States.
