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 | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $159,511 | 0.65% | D |
| 3BR | $1,390 | $235,566 | 0.59% | F |
U.S. Census Bureau data (2024)
The median income in Mayflower, AR (ZIP 72106) stands at $65,800 per year. Given the market rate for rent is $877 per month according to Census ACS data, it becomes clear that a significant portion of the population might struggle to afford housing without financial assistance. This creates an interesting dynamic for landlords and small-portfolio investors.
To put this into perspective, let's consider the monthly housing cost relative to income. A household earning the median income would spend approximately 16.7% of their gross annual income on rent at the market rate. However, when we factor in other living expenses and financial responsibilities, this percentage could become quite burdensome for many residents.
The Federal Market Rent (FMR) standard for vouchers in the zip code for fiscal year 2024 is set at $1000 per month. This means that families receiving rental assistance through Section 8 vouchers will have more purchasing power compared to those paying out-of-pocket. The voucher amount exceeds the market rate by $123 per month, which could be a deciding factor for many tenants.
With 20.7% of the 6,213 population being renters, there is a notable segment of the community looking for affordable housing options. This presents both opportunities and challenges for landlords. The competition among landlords for tenants who can pay the market rate without assistance is likely to be fierce, given the income constraints faced by many households.
The takeaway for landlords considering voucher vs. cash-pay strategies is straightforward. While accepting vouchers may come with some administrative overhead, it opens up the potential tenant pool to include those who qualify for assistance and can afford higher rent rates due to the voucher subsidy. Landlords who are willing to work with the Section 8 program can potentially secure more stable tenancy and better alignment with the actual housing costs in the area.
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.