Location: Lincoln County, AR | Metro: Desha County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71643 in fiscal year 2024 is set at $810. This figure represents the maximum amount that a landlord can receive from the Section 8 program for renting a unit in this area. It's important to note that this is not the rent you will charge your tenants; rather, it's the payment standard used by the Housing Choice Voucher program to determine the subsidy amount.
In comparison, the average rent in ZIP 71643, according to the latest Census American Community Survey (ACS), is $730. This suggests that the FMR is slightly higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program as they might receive a subsidy that exceeds the local average.
The rental share in this area stands at 24.7%, indicating that nearly one-quarter of households are renters. This statistic points to a steady demand for rental properties, making it likely that there will be a consistent pool of potential tenants interested in Section 8 housing.
Regarding acquisition costs, the data indicates that this information is currently not available (N/A). However, this does not necessarily mean that purchasing property in ZIP 71643 will be unfeasible or overly expensive. Instead, it highlights the need for landlords to carefully research the local real estate market to understand the costs associated with acquiring a rental property.
Before deciding to participate in the Section 8 program with a property in ZIP 71643, one crucial step is to verify that your property meets all the necessary requirements for the program. This includes ensuring that your rental unit passes a housing quality standards (HQS) inspection, which checks for safety and habitability. The inspection is critical because failing it can result in your property being ineligible for the program, regardless of its location or the FMR.
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.