Location: Texarkana, AR | Metro: Texarkana, TX-Texarkana, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71837 in fiscal year 2024 is set at $970. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the rent you will receive; rather, it's the cap on what tenants with vouchers can be charged. The actual rent you receive will be based on the voucher holder's income and other factors.
In comparison, the average rent for ZIP code 71837, according to the Census American Community Survey, is $1,034. This indicates that the FMR is slightly below the market rate, which could mean that landlords participating in the Section 8 program might receive less than they would in the open market. However, the stability and government backing of the program often offset this difference.
The 18.7% renter share in this area suggests a moderate demand for rentals. While not a high percentage, it does indicate a consistent pool of potential tenants who may rely on housing assistance programs like Section 8. This can be beneficial for landlords looking for steady occupancy rates.
If you're considering purchasing a property in ZIP 71837 for your first Section 8 rental, the median home value stands at $198,284. This gives you an idea of the typical acquisition cost for a home in this area. When evaluating properties, ensure that the monthly mortgage payment, maintenance costs, and other expenses do not exceed the guaranteed income from the Section 8 program.
Before making a final decision, verify that the property meets all the necessary requirements for participation in the Section 8 program. This includes passing a thorough inspection for health and safety standards. Ensuring compliance with these regulations is critical to avoid any issues that could delay or prevent your ability to rent to Section 8 tenants.
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.