Location: Van Buren County, AR | Metro: Conway County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
To understand how Section 8 economics work in ZIP code 72013, it's crucial to focus on the Specific Area Fair Market Rent (SAFMR) which is set at $990 for a two-bedroom apartment in fiscal year 2026. This SAFMR figure is specific to this ZIP code and serves as the benchmark for rental assistance payments.
The SAFMR does not directly reflect the local market rent since the data provided indicates that the local market rent is currently unavailable. However, the SAFMR is designed to be representative of the average market rent for a modest home in the area. For landlords, this means that the maximum amount the housing authority will pay on behalf of a tenant is capped at $990 per month for a two-bedroom unit.
A Section 8 voucher works by covering the difference between what a low-income family can afford to pay and the actual rent. Typically, tenants are required to contribute 30% of their adjusted income towards rent. Utility allowances are also provided, but these vary based on the household size and location. In ZIP 72013, if we assume an average utility allowance of $200, the total monthly payment would include both the rent subsidy and the utility allowance.
To illustrate, let's consider a tenant whose 30% contribution towards rent is $300. With the utility allowance of $200, the housing authority would pay the landlord $690 ($990 - $300) plus the utility allowance, totaling $890. This leaves the landlord with a reimbursement gap of $100 per month, assuming the market rent aligns closely with the SAFMR.
In summary, landlords in ZIP 72013 should expect a reimbursement gap when renting to tenants with Section 8 vouchers for two-bedroom apartments. Given the SAFMR of $990 and assuming a tenant contribution of $300 along with a utility allowance of $200, the typical reimbursement gap would be $100 per month. This gap reflects the difference between the SAFMR and the tenant's combined contributions, illustrating the economic realities faced by landlords participating in the Section 8 program.
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.