Location: Woodruff County, AR | Metro: Monroe County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The median income in ZIP code 72036 stands at $13,264, which is significantly lower than the typical household income in most parts of the United States. Despite this, the market rate for rent in this area is $555 according to Census ACS data. This means that even at the market rate, the average household would struggle to afford rent, especially considering other living expenses.
To further contextualize, the Fair Market Rent (FMR) set by HUD for this metro area in fiscal year 2026 is $880. This figure represents the voucher payment standard, indicating that landlords who accept Section 8 vouchers can expect higher payments compared to the market rate. The disparity between the median income ($13,264) and the FMR ($880) highlights a significant affordability gap for renters in ZIP 72036.
With 58.8% of the population being renters and a total population of 598, it becomes evident that competition among landlords could be fierce. Landlords who offer rental units at or below the market rate might attract tenants who cannot afford the higher voucher rates but will have a harder time ensuring consistent and timely rent payments due to the financial constraints faced by many households.
The takeaway for landlords considering their strategy in ZIP 72036 is clear: accepting Section 8 vouchers provides a more stable income stream given the higher payment standard relative to the market rate. However, landlords must weigh the administrative burden and potential challenges of working with the voucher program against the benefits of renting to financially eligible tenants who can pay the FMR of $880 per month. For those willing to navigate the complexities of the voucher system, there is an opportunity to secure more reliable rental income in a market where affordability is a critical issue for the majority of residents.
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.