Location: Lafayette County, AR | Metro: Columbia County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 71861 stands out within its county due to several key factors: it has a modest population of 2,093 residents, with only 15.0% of them renting their homes. The median household income in this area is relatively low at $58,150, while the median home value is significantly higher at $128,461. This combination suggests a primarily owner-occupied community with a smaller rental market.
From an economic standpoint, the Federal Market Rent (FMR) for ZIP 71861 is set at $1,040 for the fiscal year 2026, which is notably above the current market rent of $957 based on Census American Community Survey (ACS) data. This indicates that landlords participating in the Section 8 program could potentially see an increase in rental income, aligning closer to the government's estimate of fair market rents rather than the current market rates.
The discrepancy between the FMR and the actual market rent suggests a transitional environment where the rental market may be poised for growth. However, the stability of the owner-occupied housing market, indicated by the high median home value, implies a solid foundation of long-term residents who are likely to remain in their homes. This balance between a stable homeownership base and a transitional rental market presents a unique opportunity for landlords and small-portfolio investors in ZIP 71861.
To summarize, the data signature of ZIP 71861 points towards a transitional phase in the rental market, driven by the upcoming increase in FMR payments under the Section 8 program. Despite this potential shift, the overall housing market remains stable, supported by a strong presence of owner-occupied properties. For those interested in investing in rental properties through Section 8, ZIP 71861 offers a promising landscape with clear financial incentives.
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.