Location: Woodruff County, AR | Metro: Prairie County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,170 |
| 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)
ZIP code 72040, located within Woodruff County, AR, presents a unique profile when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for 72040 is set at $880 for fiscal year 2026, which is notably higher than the market rent figure of $528. This discrepancy suggests that 72040 is likely a value pocket within its metro area, offering rental properties at a lower cost than the federally determined fair market rate.
The absence of home value data for ZIP 72040 implies that it may not have a significant number of owner-occupied homes, further supporting the notion that it is a predominantly rental market. With a 35.2% renter share, this ZIP code has a higher proportion of renters compared to many other areas, making it particularly attractive for landlords and small-portfolio investors looking to capitalize on the demand for affordable housing.
In contrast to the typical ZIP codes in Woodruff County, AR, where home values might be more stable and reflect broader market trends, 72040 stands out due to its rental focus and the lower-than-FMR market rent. This combination of factors indicates that 72040 could be an ideal location for Section 8 properties, as it offers a lower entry point for rental investments while still meeting federal guidelines for rent assistance programs.
The higher renter share coupled with below-metro home values signals a potential sweet spot for Section 8 housing. Landlords can benefit from the government-backed rental assistance program without having to deal with the complexities of property ownership in areas with higher home values. Additionally, the market rent being significantly below the FMR suggests that there is room for landlords to increase their rents slightly, while still remaining within acceptable limits for the Section 8 program.
To summarize, ZIP 72040 appears to be a value pocket within the Woodruff County, AR metro, characterized by a high renter share and market rents that are substantially lower than the FMR. These conditions make it an attractive option for those interested in Section 8 real estate investments.
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.