Location: Union County, AR | Metro: Columbia County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 71764 presents a dynamic rental market with clear indications of ongoing pressures. The Fair Market Rent (FMR) set at $880 for the fiscal year 2026 reflects the government's benchmark for affordability in the area, which is higher than the current market rent of $614 as reported by the Census ACS. This suggests that while the market rent is currently lower, there is potential for growth as it aligns with the FMR over time.
The median home value in ZIP 71764 stands at $73,913, indicating a relatively affordable market for homeownership. However, the lack of data on price-cut share and days on market (DOM) means we cannot definitively assess whether supply outpaces demand or vice versa. Nonetheless, the 23.5% renter share provides insight into the long-term dynamics of housing pressure. A lower percentage of renters relative to owners implies a strong preference for homeownership among residents, which can be indicative of a stable but potentially constrained rental market. Landlords and small-portfolio investors should consider that while the majority of the population prefers owning homes, the rental market remains a critical segment due to the ongoing need for affordable housing options.
In summary, ZIP 71764 offers a rental market that is currently below the government's affordability benchmarks but shows signs of potential upward movement. The relatively low renter share points towards a community that values homeownership, yet the presence of a rental market is essential for maintaining housing accessibility. Investors should focus on understanding the local preferences and trends to make informed decisions about their portfolios.
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.