Location: Union County, AR | Metro: Union County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71747, which is part of a larger metro area, has been set at $880 for fiscal year 2026. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay landlords under the Section 8 housing choice voucher program. It is important to note that this is not the actual rent you would charge your tenant; it is the payment standard used by HUD.
In comparison, the average rent in ZIP 71747 based on recent Census American Community Survey (ACS) data is $680. This indicates that the FMR is higher than the typical market rate, providing landlords with an opportunity to receive slightly above-average rents through the Section 8 program.
The renter share in this ZIP code is 7.3%, meaning that nearly 7.3% of the population are renters. This suggests there is a steady demand for rental properties, making it a viable option for landlords looking to enter the Section 8 market. The acquisition cost for properties in this area is currently listed as N/A, which implies that specific data regarding property purchase prices is not available or may vary widely depending on the specific location within the ZIP code.
Before deciding to accept a Section 8 tenant in ZIP 71747, ensure that your property meets all the necessary inspection criteria set by HUD. This includes passing a Housing Quality Standards (HQS) inspection, which verifies that the unit is safe, decent, and sanitary. Failure to meet these standards can result in reduced payments or even termination of the contract.
To summarize, the FMR of $880 provides a solid income stream, potentially above the local average of $680. With a 7.3% renter share, there is a consistent demand for rentals, and the lack of specific acquisition cost data means you should research local real estate values carefully. Verify that your property meets HQS requirements to avoid any issues with payment or contract compliance.
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.