Location: Arkansas County, AR | Metro: Arkansas County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 72140 is located in a rural area of Arkansas, primarily encompassing the town of Damascus and parts of surrounding areas. This neighborhood is characterized by a small population of just 321 residents, indicating a tight-knit community where personal relationships and local knowledge can play a significant role in property management. With only 8.9% of residents being renters, it's clear that homeownership is the dominant form of residence in this area, suggesting a stable but low demand for rental properties.
The median household income in ZIP 72140 is $49,583, which provides insight into the economic profile of the residents. This figure reflects a modest income level typical of many rural areas, where agriculture and possibly light manufacturing might be key economic drivers. Given the limited data on median home values, it's reasonable to infer that property values in this ZIP code are likely below average for the state of Arkansas, aligning with its rural character.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area, which includes ZIP 72140, is set at $890 for fiscal year 2026. However, the market rent for the area is currently not available, which makes it challenging to assess the competitiveness of rental properties against the FMR. Despite this gap in information, the low percentage of renters suggests that there may be fewer opportunities for traditional rental income and a greater reliance on government assistance programs like Section 8 to fill vacancies.
Considering these factors, ZIP 72140 would likely be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low renter population and modest income levels indicate a market where finding tenants who can afford higher rents or are interested in upgrades to their living space may be difficult. Landlords and small-portfolio investors should focus on ensuring compliance with Section 8 requirements and maintaining properties to a standard that meets the needs of the local community without over-investing in costly improvements that may not be recouped through higher rents.
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.