Location: Chicot County, AR | Metro: Chicot County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 71640 stands out due to its unique mix of low median income and relatively high median home value. With only 2,265 residents, 25.6% of whom rent, this area has a median income of $28,461 and a median home value of $69,413. This indicates that homeownership is valued but comes at a premium relative to the local income levels.
The economic dynamics of Section 8 vouchers in ZIP 71640 reveal a significant disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $880, whereas the Census American Community Survey (ACS) reports the market rent at $495. This gap suggests that landlords participating in the Section 8 program can expect higher rents compared to the general market, making it an attractive option despite the administrative overhead.
However, the data signature for ZIP 71640 reads as transitional rather than stable. The relatively low number of renters and the income levels suggest that there could be changes in the rental market as more residents seek affordable housing options. Landlords and small-portfolio investors should monitor these trends closely, as they indicate potential shifts in the demand for subsidized housing.
To summarize:
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.