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 | $950 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 72180 in fiscal year 2024 is set at $1110. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive, but rather the ceiling on what you can charge for a unit to qualify for the program.
The FMR is based on the average market rent for a given area, adjusted for size and type of dwelling. In ZIP 72180, the FMR stands alone as a critical benchmark since there is no additional local rent data available. The lack of supplementary data suggests that the FMR is the most reliable indicator of the rental market in your area.
The 0.0% renter share indicates that all eligible renters in this ZIP code would be fully covered by the voucher program. This means that if you decide to participate in Section 8, you should expect a high level of demand for your rental properties. However, it also implies that the competition among landlords could be significant, as many property owners might be vying for these tenants.
Regarding acquisition costs, the absence of specific data makes it challenging to provide an exact figure. Nonetheless, it's essential to understand that participating in the Section 8 program requires your property to meet certain quality standards, which may necessitate renovations or repairs before you can accept vouchers. These costs should be factored into your decision-making process.
To ensure that you're making the right choice, verify that your property meets the Housing Quality Standards (HQS) required by the Section 8 program. This step is crucial because failing to meet these standards can result in disqualification, even if your rent is below the FMR.
In summary, the FMR of $1110 sets a cap on what you can charge for rent under Section 8 in ZIP 72180. With a 0.0% renter share, you can expect strong demand from eligible tenants. While there is no specific local rent or acquisition cost data available, ensuring your property meets HQS requirements is a key factor to consider before proceeding.
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.