Northwest Arkansas is one of the fastest-growing regions in the country. With new residents arriving every day, the landscape is shifting (both figuratively and literally) as farmland gives way to subdivisions, apartments, and town centers. Yet behind the region’s growth story lies a mounting challenge: housing.

That challenge will be front and center this November, when the Urban Land Institute’s Place Summit brings together leaders, planners, and developers to ask, “How can Northwest Arkansas grow in a way that’s both prosperous and equitable?”

At the heart of the conversation is keynote speaker Dr. Gregg Colburn, University of Washington professor and co-author of Homelessness Is a Housing Problem.

Colburn’s research offers a clear message: rising homelessness and housing insecurity aren’t driven by individual failings, but by the availability and cost of housing. His work challenges regions like Northwest Arkansas to look beyond temporary fixes and ask bigger questions about how housing markets function.

“​​What you’re experiencing isn’t unique, but it’s alarming how widespread these challenges have become.” Colburn said about Northwest Arkansas’ housing crisis. “The big message I bring from the West Coast is simple: learn from our mistakes. Our inaction during our own boom years ago has had catastrophic consequences.”

The Growth Dilemma in Northwest Arkansas

Northwest Arkansas is nationally recognized for its growth, as Benton and Washington counties are consistently ranked among the fastest-growing in the U.S.

Between 2010 and 2020, the region grew by 21%, nearly three times the national average (U.S. Census Bureau). New jobs, cultural amenities, nationally acclaimed trails, and arts institutions draw thousands of new residents each year.

But the rapid pace of growth has come with growing pains. In Northwest Arkansas, the median home price of existing single-family homes grew by 5.4% between 2022 and 2023, rising from $329,200 to $346,900. (Northwest Arkansas Council, 2024) Meanwhile, median household income has not kept pace, leaving many workers priced out of the very communities they serve.

On the rental side, costs are rising just as quickly. The annual lease rate for a month in a multifamily unit increased from $1,075.18 to $1,094.08, between the second half of 2024 and first half of 2025. (Arvest Skyline Report, 2025)

Around 60% of Fayetteville’s population is renters, according to the city, which, in part, can be attributed to its growing student population.

“It’s like what we see in a lot of other places as you’re starting to boom,” Colburn said. “A lot of good things happen, but there are some consequences of that. You have the weird situation of multiple cities, a huge corporation, and a university town all in the same region, and all of those are our kind of inputs into a housing crisis.”

Local Leadership: Policy, Advocacy, and People

While Colburn brings a national framework, local leaders are working daily to translate those ideas into on-the-ground solutions.

Marlee Stark, Chief Housing Officer for the City of Fayetteville, says the region is at a crossroads. In Fayetteville, that means exploring zoning reforms, piloting incentive programs for developers, and looking closely at density along transit corridors.

“My mandate is to make sure accessible housing is treated like essential infrastructure, just as we plan long-term for roads, utilities, water, and parks.” Stark said. “It’s about elevating housing to that same level of importance and connecting the dots across departments so we can move more strategically and effectively.”

Sophie McAdara, who oversees operations and programming at Bring It Home, sees firsthand how families are already struggling.

“We need to change public perception that homelessness is not an individual problem, but it’s a structural issue,” McAdra said. “The reason prices are so high is that we just don’t have enough access to housing. If more units were priced at many different levels, then a lot of those people would be able to access safe and reliable housing.”

Bring It Home is creating a community land trust by acquiring land and ensuring that homes remain permanently affordable for working families. Their approach balances immediate relief with long-term affordability by keeping housing costs stable across generations (Bring It Home NWA).

Barriers and Opportunities

The obstacles to solving Northwest Arkansas’s housing challenge are significant:

Rising land costs make it difficult to build affordable units and infrastructure is struggling to keep up with needed growth. In Benton County, land prices nearly doubled between 2019 and 2023 (Northwest Arkansas Council, 2024). Infrastructure strain on roads, water and sewer slows down approvals for new projects. Regional wage vs. cost mismatch means even middle-income households are feeling the squeeze.

“We have to start thinking about infrastructure investment as fundamentally being housing investment,” Stark said. “You’re going to see us continue to be really intentional about planning utility upgrades to keep pace with our growth.”

One example is the recently announced bond issue that voters will decide upon in March 2026. The City of Fayetteville proposed investing $320 million through a new bond package that will upgrade water and sewer systems, expand parks and transportation networks, and fund community amenities like a new animal shelter and aquatic center. Over two-thirds ($146 million) of the proposal is dedicated to water and sewer infrastructure improvements and expansion.

Bond issues are an important solution, but not the only opportunity. Developers and nonprofits alike are also exploring creative financing models, public-private partnerships, and regional collaboration.

Local planners point to the potential of “missing middle” housing (duplexes, triplexes, townhomes, and accessory dwelling units) as a way to diversify housing stock without sacrificing character.

Arkansas House Bill 1503, which passed in May 2025, allows for the construction of accessory dwelling units (ADUs) on lots zoned for single-family homes, offering more affordable housing options and greater flexibility for homeowners.

The law goes into effect in January 2026, providing potential relief for the regional housing crisis.

“What’s really exciting about ADUs is that they create options, something we desperately need for affordable single-family housing,” said McAdara, who also serves as Community Engagement Chair for Emerging New Urbanists. “It’s not just about affordability; housing choices also shape the urban fabric. Providing more options in already populated areas is essential to reducing sprawl, and ADUs are a great solution.”

Looking Ahead: The ULI Place Summit

The ULI Place Summit this November arrives at a pivotal moment for Northwest Arkansas. National experts like Gregg Colburn will share research, frameworks, and case studies, while local leaders bring the lived realities of growing communities to the table. The goal is to bridge research and practice, equipping the region to plan thoughtfully for decades to come.

Attendees can expect in-depth conversations on affordability, density, design, and equity, all grounded in the broader context of placemaking.

“We’re really excited to have Gregg Colburn joining us at this year’s Place Summit,” said Wes Craiglow, Executive Director of ULI NWA. “His insights from across the country give us a chance to see our own housing challenges in a new light, and I’m looking forward to the conversations we’ll have about creating stronger, more inclusive communities here in Northwest Arkansas.”

Learn more about Place Summit here or register for the $25 keynote session with Dr. Gregg Colburn here.

The Big Picture

Housing in Northwest Arkansas is more than a matter of supply and demand, it’s about the region’s identity, inclusivity, and long-term prosperity. With voices like Gregg Colburn framing the big picture and local governments and organizations leading change on the ground, the conversation at this year’s Place Summit will set the stage for what comes next.

As the region grows, so does the responsibility to ensure that Northwest Arkansas remains a place where opportunity and housing are accessible to all.

“We’re acting in San Francisco and Seattle because we have to,”Colburn said. “The crisis has forced us to act as a region. Real courage and vision is acting before you get there.”