Location: Clark County, AR | Metro: Clark County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 71743 is a renter-heavy area, with 28.7% of the population being renters. This indicates a significant portion of residents who rely on rental housing, creating a robust demand for Section 8 tenants. The median household income stands at $48,253, which suggests that the majority of residents have a moderate income level.
In this market, the typical rent is $708 per month. To put this into perspective, the average rent consumes approximately 14.7% of the median household income. This percentage is calculated by dividing the market rent by the median income and multiplying by 100. The formula used is: ($708 / $48,253) * 100 = 14.7%. This shows that rent is relatively affordable compared to the average income, making it easier for potential tenants to meet the rent requirements.
Furthermore, the Fair Market Rent (FMR) for the area is set at $880, which is higher than the current market rent. This figure, part of the FY 2026 budget for the metro area, represents the maximum amount a landlord can charge for a Section 8 voucher. With the FMR being $880, landlords in this ZIP code can potentially attract tenants with vouchers that cover the entire rent amount, given that the market rate is below the FMR threshold.
A landlord in ZIP 71743 should expect a tenant profile that includes individuals and families who benefit from Section 8 vouchers. These tenants will likely have a household income around the median or slightly below, ensuring they can afford the rent with government assistance. Given the income levels and the affordability of the current market rent, these tenants would spend roughly 14.7% of their income on rent, leaving them with sufficient funds for other living expenses.
In conclusion, ZIP 71743 presents an opportunity for landlords looking to cater to a Section 8 tenant pool. The combination of a substantial number of renters and the affordability of the typical market rent makes it an attractive location for such investments. Landlords should prepare to work with tenants whose income is supported by housing vouchers, ensuring a steady and reliable source of rental income.
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.