Location: Pike County, AR | Metro: Pike County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 71922 presents a complex landscape for both tenants and landlords. The market rate for rentals stands at $710 according to the latest Census American Community Survey (ACS) data. However, the median income for households in this area is listed as N/A, which complicates the analysis of whether the typical household can afford the $710 market rate.
In contrast, the Fair Market Rent (FMR) standard set for the metro area for fiscal year 2026 is $880. This means that the government considers a reasonable rent to be significantly higher than the current market rate, potentially indicating an underpriced rental market relative to what the federal guidelines suggest as fair.
With 43.1% of the 159 residents being renters, there is a notable presence of individuals relying on rental housing. Given the discrepancy between the market rate and the FMR, there is a clear affordability gap for renters. This gap could translate into increased competition among landlords who accept Section 8 vouchers, as these tenants have a higher rent ceiling compared to those paying out-of-pocket at the market rate.
For landlords considering their strategy regarding voucher acceptance versus cash-paying tenants, the decision hinges on balancing the stability and guaranteed income from voucher programs against the lower payment rates of $710. Accepting vouchers allows landlords to tap into a broader tenant pool, especially given the high percentage of renters in the area, but it comes with the trade-off of receiving a higher, yet still government-regulated, rent of $880. This strategy ensures steady occupancy and income, albeit at a level that is below the FMR but above the current market rate.
The takeaway for landlords is that while the market rate of $710 might attract cash-paying tenants, the voucher program offers a more stable income at a slightly higher rate of $880. Landlords should weigh the benefits of stability and federal backing against the potential for higher market rents if they can find tenants willing to pay beyond the current market rate. In ZIP 71922, accepting vouchers appears to be a viable strategy to maintain occupancy and ensure consistent returns.
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.