Location: Hempstead County, AR | Metro: Hempstead County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 71847, located within Hempstead County, AR, has a Federal Market Rent (FMR) of $880 for fiscal year 2026. This figure represents the maximum amount that a tenant participating in the Section 8 program would be required to pay towards their housing costs. While the market rent and home value data are not available for this specific ZIP, we can still draw some conclusions based on the given information.
The 9.6% renter share indicates that a relatively small portion of the population in ZIP 71847 rents their homes compared to owning them. However, this percentage alone does not provide enough context to determine if 71847 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Hempstead County, AR metro area. To make an accurate inference, we need to compare it against typical ZIP codes in Hempstead County.
Given the FMR of $880, which is a government-set benchmark, we can assume that rental properties in ZIP 71847 are likely to be priced below or at this level. If the typical ZIP codes in Hempstead County have higher FMRs, then 71847 could be considered a value pocket where rental properties are more affordable. Conversely, if the FMR is similar across most ZIP codes in the county, then 71847 would fall into the mid-tier category.
The absence of market rent and home value data complicates a direct comparison but does not preclude making reasonable inferences. For instance, a high renter share with lower-than-average home values often points to areas where Section 8 participants find housing more accessible. Since we do not have comparative data for other ZIP codes in Hempstead County, we cannot definitively state the position of 71847 within the local real estate market. However, the combination of a known FMR and a non-trivial renter share suggests that 71847 could be a favorable location for landlords and small-portfolio investors looking to cater to Section 8 tenants.
To conclude, while we lack comprehensive data to fully assess the real estate dynamics of ZIP 71847, the existing figures point towards potential opportunities for investors interested in the Section 8 market. The $880 FMR and 9.6% renter share suggest a niche that might be advantageous depending on the broader county 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.