Location: McCurtain County, OK | Metro: Polk County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 71937 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent, which has direct implications for landlords and small-portfolio investors. The FMR for the metro area in fiscal year 2026 is set at $940, while the Census ACS data indicates that the market rent is only $720. This means there is a $220 difference, or a 30.5% gap, between what landlords can charge through the Section 8 program and what they would typically receive from non-voucher tenants.
Given that the FMR exceeds the market rent, it becomes clear that voucher tenants present an opportunity for landlords to achieve higher yields. By participating in the Section 8 program, landlords can capitalize on the government's willingness to pay a higher rate than the current market conditions dictate. This makes the ZIP code attractive for those looking to maximize their rental income per unit, especially considering the relatively low percentage of renters at 23.4%, indicating a smaller pool of potential tenants competing for the same units.
The median home value in the area stands at $168,573, which suggests that the local property market is moderately priced. However, the median income of $57,750 highlights the financial constraints many residents face, making affordable housing options like Section 8 vouchers particularly appealing. For investors, this means that while the FMR provides a cushion above the typical market rent, the underlying economic conditions indicate that finding tenants willing to pay above market rates without a voucher could be challenging.
To summarize, the $220 or 30.5% gap between the FMR and the market rent in ZIP 71937 positions the area as a strong candidate for a yield play strategy through the Section 8 program. Landlords should consider the benefits of receiving guaranteed payments at the FMR level, which can be significantly higher than the open-market rates, thus providing a more stable and lucrative investment option.
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.