Section 8 Fair Market Rent (FMR) for ZIP 72033 - 2027
Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
To decide whether to invest in ZIP 72033 (Unknown, AR) for Section 8 properties, follow this decision tree:
- Does FMR $1040 (zip FY 2024) cover the debt service on a property?
- Yes: If the Fair Market Rent (FMR) of $1040 is sufficient to cover your debt service, then you can proceed to the next question.
- No: Do not purchase in ZIP 72033 if the FMR cannot cover your debt service costs.
- Is market rent above, at, or below FMR?
- Above FMR: If the market rent exceeds the FMR of $1040, you could potentially charge the higher market rate for non-Section 8 tenants and still participate in the Section 8 program when needed. This flexibility can be beneficial.
- At FMR: If the market rent equals the FMR, the property will likely be competitive in the rental market and suitable for Section 8 tenants without any issues.
- Below FMR: If the market rent is lower than the FMR, the property might not attract enough non-Section 8 tenants, limiting your potential tenant pool to those eligible for Section 8 assistance.
- Are there enough renters and a reasonable Days on Market (DOM)?
- N/A% renters + N/A-day DOM: The data indicates that the percentage of renters and the average days on market are not available. Without these figures, it's challenging to assess the demand accurately. It depends on additional research into local rental trends and competition.
The Fair Market Rent of $1040 is a key figure. It must at least meet the debt service requirements to ensure financial stability. However, the lack of specific data on market rents, the percentage of renters, and the average DOM makes it difficult to provide a definitive recommendation. Additional investigation into local rental dynamics and the availability of Section 8 vouchers is necessary to make an informed decision.
Data Sources: FMR data from HUD (2027).
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.