Location: Union County, AR | Metro: Ouachita County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
28.4% of residents in ZIP 71762 are renters, indicating a significant portion of the population relies on rental housing. This statistic aligns with the $860 market rent observed in the area, based on Census ACS data. For landlords and small-portfolio investors, the $990 Fair Market Rent (FMR) for the metro area in fiscal year 2026 represents a benchmark for rental pricing. The difference between the market rent and the FMR suggests an opportunity to adjust rates upwards without significantly deterring tenants.
$111,075 is the median home value in ZIP 71762, reflecting the overall real estate market conditions. However, the $50,577 median income indicates that many homeowners might be financially stretched, especially when considering mortgage payments and other living expenses. This could imply that the rental market remains attractive for those who prefer not to bear the financial burden of homeownership.
N/A-day Days on Market (DOM) and N/A% price-cut share suggest limited data on recent sales activity or a stable market where homes are selling close to their asking prices. While this lack of detailed sales information can be a challenge, it also points to a consistent market environment, which can be favorable for long-term investments.
In conclusion, the rental market in ZIP 71762 offers a solid foundation for landlords and small-portfolio investors, with the potential for modest rate increases to meet the $990 FMR. The relatively low median income compared to home values supports the viability of the rental sector. The verdict on Section 8 participation is positive, given the alignment of market rents with the FMR and the substantial renter share.
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.