Location: Clark County, AR | Metro: Clark County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 71998 presents a complex landscape for both renters and landlords. Given the median income is not available, it's challenging to determine if households can afford the market rate rent, which is also unspecified. However, comparing the voucher payment standard to the unknown market rate offers some insight.
The Fair Market Rent (FMR) for ZIP 71998, set at $880 per month for metro FY 2026, serves as a benchmark for affordability. This figure represents the maximum amount that a household receiving a housing voucher would pay towards rent. If the market rate rent exceeds this amount, it indicates an affordability gap for low-income households.
With 669 residents and an unspecified percentage of renters, the competition among landlords for tenants who can pay the market rate versus those relying on vouchers could be significant. If the market rate is higher than $880, landlords might face challenges in finding cash-paying tenants willing to meet these rates. Conversely, if the market rate is close to or below $880, landlords could attract a broader pool of tenants, including those with vouchers.
The takeaway for landlords considering their strategy should focus on understanding the local tenant mix. In a scenario where the market rate is significantly above $880, landlords might need to consider accepting vouchers to secure tenancy. Vouchers provide a guaranteed income stream and protect against vacancies, even if the monthly rent is lower than the market rate. For landlords aiming to maximize short-term profits, focusing on cash-paying tenants may be more advantageous, assuming they can find such tenants. However, in areas with high renter concentration and limited median income data, voucher acceptance can stabilize occupancy and ensure steady, reliable income.
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.