Section 8 Fair Market Rent (FMR) for ZIP 71753 - 2027
Location: Union County, AR | Metro: Columbia County, AR
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$50,504
Housing Authorities Serving ZIP 71753
A skeptical investor might raise several concerns regarding the real estate investment potential in ZIP 71753 (Magnolia, AR).
- Will FMR $900 (metro FY 2026) cover the mortgage on a $145,490 home? According to recent data, a 30-year fixed-rate mortgage on a $145,490 home would typically result in a monthly payment of around $700-$800, depending on the interest rate and down payment. With an FMR of $900, it is likely that the rent can cover the mortgage payment, leaving some room for profit.
- Is there enough renter demand at 35.0%? Data from BestPlaces indicates that renters make up 29.7% of the population in Magnolia (ZIP 71753). While this is slightly lower than the 35.0% initially mentioned, it still suggests a significant portion of the population is looking for rental properties. This percentage, however, does not fully capture the dynamics of the rental market, such as vacancy rates or competition among landlords.
- Will vouchers keep pace with $637 market rents? The FMR for ZIP 71753 is set at $900 for FY 2026, which is higher than the market rent of $637. This means that voucher holders should have sufficient funds to cover the market rent, even with some fluctuation. However, the exact alignment between voucher amounts and market rents depends on the specifics of the housing assistance program and any adjustments made by HUD.
Note that the data does not provide a complete picture of all factors influencing the rental market, such as the availability of rental properties, the quality of the housing stock, or the demographic makeup of potential tenants. These elements can impact the success of a rental investment in ZIP 71753.
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.