Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,520 | $194,151 | 0.78% | D |
| 4BR | $1,820 | $232,188 | 0.78% | D |
U.S. Census Bureau data (2024)
The ZIP code 72103 is a moderately renter-heavy area with significant potential for Section 8 tenants. With a population of 15,736, 18.1% of residents are renters, indicating a substantial portion of the market that could be tapped into through Section 8 vouchers. The median household income in this area stands at $68,029, which provides a solid basis for understanding the financial capabilities of potential tenants.
The typical market rent of $1,087 represents approximately 16% of the median household income. This percentage suggests that rent is a manageable expense for most households, making it easier for landlords to find tenants who can afford their properties even without government assistance. However, the Federal Market Rent (FMR) for FY 2024 is set at $1,130, slightly higher than the current market rent. This indicates that the government's rental assistance programs are aligned with the local housing costs, potentially increasing the number of eligible Section 8 tenants.
Landlords in ZIP 72103 should anticipate a tenant pool that includes individuals and families benefiting from Section 8 vouchers. These tenants will likely have a monthly income around the median, with a significant portion of their earnings allocated towards housing expenses. Given the slight difference between the FMR and the actual market rent, landlords may see an influx of applicants who qualify for the voucher program, thereby stabilizing their rental income through government subsidies.
To conclude, while ZIP 72103 has a notable number of homeowners, the presence of a sizeable renter population and the alignment of FMR with local rents make it a favorable location for landlords interested in attracting Section 8 tenants. The expected tenant profile consists of those who are financially stable enough to meet the eligibility criteria for the voucher program, ensuring they can cover their rent obligations with government support.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.