Location: Little River County, AR | Metro: Little River County, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $830 for ZIP code 71820 in fiscal year 2024 will adequately cover the mortgage on a home. Unfortunately, the specific median home value for ZIP 71820 is not available directly from the search. However, the typical mortgage payment for properties in this area can be estimated using recent home sales and prevailing interest rates.
The investor may also wonder if there is sufficient rental demand in ZIP 71820, given that only 13.5% of the population are renters. This percentage indicates a smaller pool of potential tenants compared to areas with higher rental rates. Nonetheless, the rental demand must be considered alongside the vacancy rate and the overall economic conditions of the area.
Another concern could be whether housing vouchers will keep pace with market rents. Current data does not provide a direct comparison between voucher amounts and market rents for ZIP 71820. To accurately assess this, it would be necessary to compare the average voucher amount issued by the Department of Housing and Urban Development (HUD) with the actual market rents in the area.
While these questions highlight some challenges, the data suggests that the rental market in ZIP 71820 remains stable. Landlords and small-portfolio investors should consider consulting local real estate agents and reviewing detailed property reports to make informed decisions.
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.