Location: Van Buren County, AR | Metro: Van Buren County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The ZIP code 72141, located in Arkansas, presents an interesting scenario for both renters and landlords alike. The median income in this area stands at $28,342, which is a critical figure when assessing housing affordability. However, without a specific market rate for rental properties in the area, it's challenging to provide a direct comparison to the median income.
What we do know is that the Fair Market Rent (FMR) as determined by HUD for the metro area in fiscal year 2026 is set at $880. This means that a household receiving a Section 8 voucher could potentially afford a rental unit priced at or below this amount. Given the median income, it's evident that many households would struggle to pay much above the voucher rate, highlighting a significant affordability gap in the local rental market.
With 42.7% of the 660 residents being renters, there is a notable demand for affordable housing. Landlords in ZIP 72141 must consider this demographic when setting their rents. The competition among landlords is likely to be fierce, especially for those who can offer units that fall within the budget constraints of the majority of renters.
The takeaway for landlords is clear: focusing on accepting Section 8 vouchers can be a strategic move. By aligning rents with the FMR of $880, landlords can tap into a larger pool of potential tenants who are financially supported by the government. While the decision to accept vouchers versus seeking cash-paying tenants is complex and depends on various factors including management costs and tenant preferences, the data suggests that embracing Section 8 could enhance occupancy rates and stabilize cash flows in this economically sensitive area.
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.