Location: Howard County, AR | Metro: Hempstead County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The ZIP code 71831 encompasses a rural area primarily located in Madison Parish, Louisiana. This region is characterized by a modest population of 101 individuals, with 23.9% being renters. Notably, specific data regarding median income and median home value are currently unavailable, indicating a lack of detailed economic analysis for this particular area.
Despite the limited data, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960. This figure represents the rental assistance amount determined by HUD for the Section 8 Housing Choice Voucher program. However, without comparative market rent data, it's challenging to assess how competitive this rate is within the local rental market.
Given the characteristics of ZIP 71831, it would be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low population density suggests a limited pool of potential tenants, making aggressive property management strategies less effective. For landlords and small-portfolio investors, focusing on maintaining properties to meet basic standards and collecting stable rental payments through the Section 8 program is likely the best approach.
The absence of detailed economic metrics complicates deeper financial analysis, but the known FMR provides a solid basis for those interested in participating in the Section 8 program. Investors should be prepared for a market with fewer opportunities for rapid growth or high-end renovations, as the demand for such improvements is likely lower given the demographic and economic context.
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.