Location: Chicot County, AR | Metro: Ashley County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP 71676 centers around the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $990. However, specific market rent data for ZIP 71676 is currently unavailable. Despite this, the median home value in ZIP 71676 is $52,300, which is significantly lower than the national average, indicating a less expensive housing market.
The gap between FMR and market rent, when market rent is higher, can lead to a scenario where landlords might find themselves renting properties below the open-market rates. For instance, if the market rent were $1,200, the landlord would be receiving $210 less per month from voucher tenants, which represents a 21.7% reduction in potential revenue. This situation can reduce profitability and make it less attractive for landlords to participate in the Section 8 program.
Conversely, if the market rent is lower than the FMR, the Section 8 program becomes a yield play. Landlords could potentially receive higher rents from voucher tenants than they would from open-market tenants. Given the median income in ZIP 71676 is $26,184, many residents likely qualify for assistance, making the program a stable source of tenancy and income.
The percentage of renters in ZIP 71676 is 22.5%, which suggests a smaller but significant portion of the population relies on rental housing. This demographic factor should be considered when evaluating the potential for the Section 8 program to support landlords and small-portfolio investors in the area.
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.