Location: Chicot County, AR | Metro: Ashley County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The economic landscape in ZIP code 71661 presents a challenging scenario for both renters and landlords alike. With a median household income of $28,750, the financial capacity of residents to cover market-rate rents is severely limited. The lack of specific market-rate rent data suggests that the cost of living, particularly housing, might be significantly lower than average, but it also highlights a critical issue: affordability.
When comparing the median income to the Fair Market Rent (FMR) set at $1,050 for the metro area in fiscal year 2026, the disparity becomes clear. Assuming a typical budget where 30% of income goes towards housing, a household in ZIP 71661 would have approximately $862.50 available per month for rent. This figure falls below the FMR, indicating that many households struggle to find housing that meets their needs without assistance.
The ZIP code has a relatively low percentage of renters at 4.2%, with a total population of 110. This low rental demand means that landlords face stiff competition for tenants. Given the limited number of potential renters, those who can afford higher rents are highly sought after. However, the majority of residents likely require some form of subsidy to meet housing costs.
The takeaway for landlords considering their strategy between voucher tenants and cash-paying tenants is clear. While cash-paying tenants offer the simplicity of straightforward transactions, the reality of ZIP 71661 suggests that such tenants will be few and far between. Vouchers, on the other hand, provide a reliable source of income that aligns with the financial capabilities of the local population. Landlords should prepare to accommodate voucher tenants if they wish to maintain occupancy rates and avoid prolonged vacancies.
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.