Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The ZIP code 72122 encompasses a small, rural area with a total population of 1,471 residents. Only 10.7% of these individuals are renters, indicating a predominantly owner-occupied community. The median home value stands at $354,591, reflecting a relatively affluent environment despite the lack of reported median income data. This setting suggests a tight-knit, stable community where homeownership is valued and maintained.
Turning to the rent economics, the Fair Market Rent (FMR) for ZIP 72122 in fiscal year 2024 is set at $1,090. In stark contrast, the market rent based on Census ACS data is only $487. This significant gap between the FMR and the actual market rent presents an opportunity for landlords and small-portfolio investors to secure higher rental incomes through Section 8 housing vouchers, which can cover the difference between the market rate and the FMR.
Given these dynamics, ZIP 72122 is more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The potential for higher rents under Section 8, combined with the low percentage of renters, means that active management could yield substantial returns. Landlords should focus on properties that meet or exceed the quality standards required for Section 8 participation, ensuring they can command the higher FMR rates while providing a valuable service to the local community.
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.