Section 8 Fair Market Rent (FMR) for ZIP 71945 - 2027
Location: Polk County, AR | Metro: Polk County, AR
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $650 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,230 |
| 5 Bedrooms | $1,427 |
| 6 Bedrooms | $1,598 |
| 7 Bedrooms | $1,726 |
| 8 Bedrooms | $1,812 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$38,090
When considering whether to invest in ZIP code 71945 for Section 8 properties, follow these decision points:
- Does the Fair Market Rent (FMR) of $880 cover the debt service on a property?
- If the property's debt service is less than $880, then yes, the FMR clears the debt service.
- If the debt service exceeds $880, then no, the FMR does not cover the debt service. This makes the investment unfeasible under Section 8 guidelines.
- Is the market rent of $719 (from Census ACS) above, at, or below the FMR?
- Market rent at $719 is below the FMR of $880. This suggests that landlords could potentially receive higher rents through Section 8 compared to the local market rate.
- Are there sufficient renters and days on the market (DOM) to support demand?
- The rental rate stands at 29.3%, indicating a moderate level of rental activity within the area.
- Without specific data on DOM, it's challenging to determine if there is enough demand. However, a rental rate of 29.3% implies a steady need for rental properties.
- If DOM is low, meaning properties are rented quickly, this indicates strong demand and supports a positive investment decision.
- A high DOM might suggest weaker demand or other issues affecting the rental market, leading to a cautious approach.
To summarize, if the debt service is covered by the FMR of $880 and the DOM is low, then investing in ZIP 71945 for Section 8 properties is advisable given the below-market rent scenario and moderate rental activity.
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.