Location: Hot Springs, AR | Metro: Hot Springs, AR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
The ZIP code 71910 represents the Hot Springs Village area in Garland County, Arkansas. Due to limited data availability, specific figures for population, percentage of renters, median income, and median home value are not provided.
However, the Fair Market Rent (FMR) for ZIP 71910 is set at $1010 for fiscal year 2024. This figure is important for Section 8 investors as it reflects the maximum rental subsidy allowed by the U.S. Department of Housing and Urban Development (HUD).
When considering whether this area suits a hands-off voucher operator or a hands-on value-add buyer, the FMR provides a baseline. Given the lack of detailed market rent data, it's prudent to assume that market rents might be higher than the FMR, which could present opportunities for hands-on investors looking to add value and potentially command higher rents. Conversely, for those interested in a hands-off approach, the FMR serves as a guideline for setting rents that align with HUD subsidies.
To make an informed decision, further research on local rental market conditions, vacancy rates, and tenant demand would be necessary. Engaging with local real estate professionals or reviewing recent rental listings could provide additional insights into the potential for either hands-off or value-add investment strategies.
Data Sources: FMR data from HUD (2027).
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.