Location: Calhoun County, AR | Metro: Calhoun County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The market in ZIP code 71744 is characterized by a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR, set at $1,040, reflects the federal guideline for what is considered a reasonable rent for a two-bedroom apartment in the area, as determined for fiscal year 2026. In contrast, the current market rent, based on Census ACS data, stands at $860. This suggests that there is a strong downward pressure on rents, indicating that supply may be outpacing demand.
The median home value in ZIP 74744 is $132,463. While this figure alone doesn't provide a complete picture of the housing market, it can indicate the affordability of homeownership relative to rental costs. Given the lower market rent compared to the FMR, it's plausible that some potential renters might find homeownership more attractive, especially if mortgage rates are favorable.
A noteworthy statistic is the 15.1% share of renters in the population. This relatively low percentage implies that a majority of residents prefer homeownership over renting. However, it also suggests that the area could face long-term housing pressure as economic conditions change and more individuals seek rental options. If employment opportunities grow or attract younger demographics who typically rent, the dynamics could shift, potentially closing the gap between FMR and market rent.
In summary, ZIP 71744 presents a market where current rents are below federal guidelines, hinting at a supply that exceeds demand. The low renter share points towards a preference for homeownership but also leaves room for future shifts in housing demand patterns.
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.