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 | $1,010 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $83,984 | 1.39% | A |
| 3BR | $1,570 | $182,301 | 0.86% | C |
| 4BR | $1,890 | $229,026 | 0.83% | C |
U.S. Census Bureau data (2024)
In North Little Rock, AR, specifically ZIP code 72117, the real estate market presents a nuanced scenario for both landlords and small-portfolio investors. The median home value stands at $149,228, indicating a relatively affordable market that caters to first-time buyers and investors looking for entry-level properties. This valuation is a critical benchmark for understanding the local housing dynamics.
The recent trend of only 0.2% of listings reducing their asking prices suggests a resilient market with strong pricing power. Sellers are holding firm on their prices, which implies that demand remains steady relative to supply. While the median days on market (DOM) data is currently unavailable, the low percentage of price reductions indicates that homes are likely selling close to their initial listing prices, or even appreciating slightly over time.
On the rental side, the Fair Market Rent (FMR) for ZIP 72117 in fiscal year 2024 is set at $1,150, compared to the current market average of $1,092. This suggests an upward pressure on rents, aligning with the broader economic context of rising living costs. Landlords can expect a gradual increase in rental income, which supports the financial viability of rental investments in this area.
For long-term investors, the setup in ZIP 72117 implies a stable appreciation thesis. The combination of a modest median home value, minimal price reductions, and a positive outlook for rental rates creates a favorable environment for property appreciation. Over the next 12-24 months, the market conditions suggest that property values will likely remain stable or experience slight growth, driven by the consistent demand and limited supply of reduced-price listings.
Investors should also consider the broader economic factors influencing the region. A stable job market and population growth trends contribute to the demand for housing, supporting the overall health of the real estate market. Additionally, the affordability of the median home value positions North Little Rock as an attractive destination for families and young professionals seeking to enter the housing market.
To summarize, the median home value, low rate of price reductions, and positive rental dynamics in ZIP 72117 indicate a market with robust pricing power and potential for modest appreciation. These factors provide a solid foundation for long-term investment strategies, particularly for those focused on rental income and property value stability.
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.