Location: Little River County, AR | Metro: Little River County, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71865 in fiscal year 2024 is set at $1220. This figure represents the payment standard for Section 8 rentals in this area, which is the maximum amount that the Housing Choice Voucher program will pay towards a tenant's rent. It is important to note that this does not necessarily mean your total rent will be $1220; it can be higher, but the voucher holder would need to cover the difference out-of-pocket.
While the local median rent is not available, we can infer that the demand for rental properties in this area is significant given that 12.0% of the population are renters. This percentage indicates a substantial portion of the community relies on rental housing, suggesting a steady demand for affordable units.
Regarding the acquisition cost of a property in ZIP 71865, the data does not provide a specific median home value. However, you should consider this when evaluating whether the potential income from a Section 8 rental justifies the investment. The FMR of $1220 per month can help you calculate the annual rental income, which is crucial for assessing the financial viability of the property.
Before committing to a Section 8 rental in ZIP 71865, verify that the property meets all local housing quality standards. These standards ensure that the unit is safe, decent, and sanitary, which is a requirement for participation in the program. Failure to meet these criteria could result in non-payment or termination from the program.
In summary, the FMR of $1220 provides a benchmark for the voucher payment in ZIP 71865. With a 12.0% renter share, there is a notable demand for rental properties, though exact local median rents are unavailable. Ensure the property complies with all necessary quality standards to avoid issues with the Housing Authority.
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.