Location: Hot Spring County, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 72167 presents a dynamic rental market, with the Fair Market Rent (FMR) set at $830 for fiscal year 2024. This figure, established by HUD, reflects the rental value benchmark for the area, indicating a stable baseline for landlords and investors. The median home value in this region stands at $192,745, suggesting that homeownership is accessible to a broad segment of the population, which can influence the rental market's composition.
A notable absence in the data is the market rent and the percentage of price-cut share, along with the days on market (DOM) for rental listings. These metrics are crucial for understanding the immediate supply-demand balance within the ZIP code. However, the lack of these figures implies that there might be less transparency or fewer transactions in the short-term rental market compared to the broader housing market.
The 4.2% renter share highlights an interesting aspect of the ZIP code's housing dynamics. A lower renter share often suggests a strong preference for homeownership among residents, which can result in limited rental stock and potentially higher competition among renters. This scenario could exert long-term housing pressure, driving up rental rates as demand persists despite a smaller pool of available rentals.
In a market where homeownership is prevalent, landlords and small-portfolio investors must consider the potential challenges in maintaining a steady occupancy rate. The dynamics suggest that while the ZIP code offers affordable housing options, the rental sector may face unique pressures due to the high homeownership rate. Investors should focus on offering competitive rental terms and maintaining property quality to attract tenants in an environment where owning a home is the preferred choice.
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.