Location: Hempstead County, AR | Metro: Little River County, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The ZIP code 71822 has a population of 7,675 residents, with 21.3% identified as renters. This indicates that while there is a notable rental presence, it is not a renter-heavy area. The median household income stands at $59,167, which provides context for understanding the affordability of housing within this community.
Average market rent in this ZIP is $692 per month. To put this into perspective, typical rent consumes approximately 11.7% of the median local income. This calculation is derived from dividing the average market rent by the median household income and multiplying by 100. This percentage suggests that rent is relatively affordable for most households in the area.
Comparatively, the Fair Market Rent (FMR) for ZIP 71822 is set at $850 per month for FY 2024. This means that the market rent is below the FMR, indicating that landlords may find it easier to secure tenants with Section 8 vouchers. The difference between the market rent and FMR also implies that voucher holders have some flexibility in finding properties within their budget.
The tenant profile a landlord should expect in ZIP 71822 includes individuals and families who are likely to be eligible for Section 8 vouchers due to the income levels being below the national median. These tenants will typically have a monthly rental budget that aligns closely with the $692 market rent, making them suitable for properties priced at or slightly above this figure but still below the $850 FMR.
In conclusion, while ZIP 71822 is not dominated by renters, there is a significant enough rental population to support a steady demand for Section 8 vouchers. Landlords can anticipate tenants who are financially responsible and whose income levels make the average market rent a manageable expense.
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.